Chancellor responds to October's Labour Market Statistics

The Chancellor’s response to ONS Labour Market Statistics is below. Today, the ONS have published:

• Average weekly earnings in Great Britain
• Vacancies and jobs in the UK
• Earnings and employment from Pay As You Earn Real Time Information

Unemployment, employment and inactivity rate statistics and regional employment rate estimates will follow on 24th October at 7am

The Chancellor of Exchequer, Jeremy Hunt said:    

"It’s good news that inflation is falling and real wages are growing, so people have more money in their pockets. To keep this progress, we must stick to our plan to halve inflation."

Notes to editors

Additional information:

• The Government is committed to the Triple Lock, as is the usual process, the annual review of State Pensions and benefits will take place in the Autumn and any new rate will come into force from April 2024. 
• Our balanced approach – outlined in the recent State Pension Age Review – will ensure the State Pension remains sustainable and fair across the generations, while continuing to provide security and dignity in retirement for millions of people across the country.