Pay rising faster than inflation as Bank warns on growth

Average earnings are rising faster than the rate of inflation after years of falling living standards, new figures show.

The Office for National Statistics data came as Mark Carney, the Governor of the Bank of England (BoE) said inflation is more than likely to fall below 1%, and economic growth will be slower than previously expected.

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Average earnings rise by 1.3% in year to September

Average earnings and consumer prices annual growth rates Credit: ONS

For July to September 2014, regular pay for employees in Great Britain was 1.3% higher than a year earlier and total pay for employees in Great Britain was 1.0% higher than a year earlier., according to the latest figures from the ONS.

Unemployment falls by 115,000 to 1.96 million

Unemployment fell by 115,000 between July and September, to 1.96 million, official figures showed today.

The number of people claiming jobseeker's allowance last month fell by 20,400 to 931,700, said the Office for National Statistics.

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