Wages Growing Fast And Unemployment Falls

I'm really pleased by the latest positive news from the Office For National Statistics with wages rising fast, more people in work than ever before and unemployment down again.

Over the last year wages have risen by 4% which is the fastest growth in wages in over 11 years - that's double the rate of inflation!

The employment rate is at a joint record high, while the unemployment rate hasn't been lower since 1974.

There are now over 300,000 more full-time jobs than a year ago, and almost 3 million more than in 2010.

The ONS figures follow standard definitions specified by the International Labour Organisation.