The Office for National Statistics has released figures which say that, in the August-to-October period, average earnings were up 1.6% from a year earlier. Meanwhile, the number of people unemployed in the quarter fell by 63,000 to 1.96 million. This ties in with localevidence that, in North-East Hertfordshire, consumer spending has increased by 4%, incomes are up, and unemployment is down.
Commenting, Sir Oliver said, “This is more proof that the Government’s Long-term Economic Plan is working. Unemployment has fallen yet again, including improvements to figures on youth unemployment and long-term jobless households. To add to this, average wages continue to rise above inflation, further easing the strain on family budgets.”