Job miracle goes on as wages rise

BRITAIN’S ‘jobs miracle’ will continue as workers enjoy rising living standards over the next five years, Philip Hammond declared.

The Chancellor welcomed forecasts from the Office for Budget Responsibility (OBR) showing unemployment will fall from 4pc today to 3.7pc next year – a level not seen since 1974.

The number of those in work is also set to rise by 800,000 to 33.2m in 2023, taking the increase since 2010 to 4.2m.

And in a sign that living standards are rising once again, the OBR said wages in Britain would rise by more than prices for the next five years.

By 2023, average earnings will be rising by 3.2pc, while inflation is expected to be 2pc.

‘This government has prioritised getting people into work because the best way to help people is to provide them with the stability of a pay packet every month,’ said Hammond yesterday

‘Since 2010 over 3.3m more people are in work and the OBR confirm Britain’s jobs miracle is set to continue,’ he added.

‘But now we need to focus on pay and the OBR is forecasting sustained real wage growth in each of the next five years.’