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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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Figures show record numbers are in work

A record number of people are in work after another huge fall in unemployment, new figures have shown.

Employment increased by 112,000 in the latest quarter to 30.7 million, the highest since records began in 1971, the Office for National Statistics (ONS) reported.

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