UK employment rate joint-highest on record

More positive economic news has been released today, the UK has matched its highest employment rate since records began, with the figure now standing at 76.1%.

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New figures from the Office for National Statistics show that the good news doesn’t stop there. Britons’ wages grew faster than at any time since the financial crisis in the three months to June, annual growth in average weekly earnings for employees in Great Britain increased to 3.9%.This means in real terms (after adjusting for inflation), total pay is estimated to have increased by 1.8% compared with a year earlier, and regular pay is estimated to have increased by 1.9%

There has also been a slight decrease in unemployment, estimated at 3.9%; lower than a year earlier (4.0%).

Tom Stevenson, investment director for personal investing at Fidelity International, said: “The UK’s labour market is still the bright spot in the British economy.”

“Many households will feel they are enjoying a more comfortable standard of living at the moment. More people are in work than at any time since 1971.”

Ahead of the ballot, George Osborne warned that merely voting Leave would produce an “immediate and profound” economic shock and claimed that it would put 820,000 jobs at risk. Project Fear predictions about mass job losses and an economic recession still haven’t materialised, naturally…