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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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McVey: Employment rise 'thanks to Government's economic plan'

With the vast majority of the rise in employment over the last year being full-time, it's clear that thanks to the Government's long-term economic plan, we are helping businesses to create the jobs that people need.

More young people are getting their foot on the career ladder and we've seen record falls in female unemployment, so as the economy continues to grow, more and more people are having their lives transformed by moving into work.

– Esther McVey, Employment Minister

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