Wages grow at fastest rate since 2007

Official figures out later this week are expected to show that real wages have grown at their fastest rate since October 2007. Average weekly earnings are predicted to have grown by an annual rate of 2.5%-2.6% between February and April 2015, compared with 2.2% between January and March, according to the Resolution Foundation. Combined with inflation falling by 0.1% during April, this means real wages grew by between 2.5% and 2.7% - the fastest rate since October 2007 saw an increase of 2.5%. But the foundation added that average weekly earnings remain lower than a decade ago.


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