Wage growth in the UK rose to 3.6 per cent in the year to May 2019, the highest growth rate since 2008, according to Office for National Statistics figures. Wages have been outpacing inflation since March 2018, though not by much.
A record high of 32.75 million people were in employment up to the end of May, while 1.29 million were out of work – a huge number, but the lowest since at least 1992.
“Regular pay is growing at its fastest for nearly 11 years in cash terms, and its quickest for over three years after taking account of inflation,” said ONS labour market statistician Matt Hughes.
In other words, in the three years since we voted for Brexit the predicted economic disaster has completely failed to materialise. But wages have been suppressed for so long that a serious, organised fight for pay is essential.
• A longer version of this article is on the web at www.cpbml.org.uk.