The governor of the Bank of England has admitted that people should not expect their wages to rise in real terms until mid-2014 at the earliest despite the growing economy.
Mark Carney told Channel 4 News: "I think some - not everybody across the country is feeling this, without question".
"There's still a million more people out of work than were in work prior to the crisis... but what is happening is 60,000 jobs per month, new jobs, are being created, most of those in the private sector, most of those full-time. And that's real work, real people".
Mr Carney acknowledged that real wages "are not picking up, they haven't been for a number of years".
Asked if he would be prepared to raise interest rates before the General Election, Mr Carney replied, "Well, absolutely."
David Cameron says his economic plan is "on track" despite a Bank of England admission that interest rates could rise sooner than expected.
Today's growth forecast may seem to be good news for the Coalition, but the increasing cost of living could cause problems at the polls.
Most borrowers are not economists. Deciding whether they can afford to borrow has just become more difficult.