Posted 8 years ago •
Employment at record high, but pay growth continues to struggle
Employment growth continues to strengthen, with a record number of people now in work. At a time of economic and political uncertainty, this shows the resilience of businesses up and down the country, as they continue to employ more people and create new opportunities.
But, pay growth continues to struggle and has now gone negative, meaning the cost of living is outpacing wage growth.
In the quarter to April 2025, wage growth across the economy remained strong, but is weaker compared to recent months. Unemployment and employment levels both rose (unemployment notably so), and economic inactivity fell, but still sits above 9 million.
In the three months to March 2025, wage growth across the economy remained strong and, while wages continued to rise in nominal and real terms, the rate of wage growth is showing signs of slowing.
In the three months to February 2025, wage growth across the economy showed signs of plateauing but remains strong, unemployment and employment levels both increased, while inactivity fell but is still stubbornly high.