The Chancellor responded to the Office for National Statistics'
Labour Market Statistics.
The Chancellor of Exchequer, said:
"It’s heartening to see inflation falling and real wages growing,
keeping more money in people’s pockets.
“Building on the labour market reforms in Spring, the Autumn
Statement will set out my plans to get people back into work and
deliver growth for the UK.”
Further information:
- Whole economy total pay growth has fallen from 8.4% in Q2 to
7.9% in Q3. This fall in headline earnings growth reflects
one-off payments to parts of the NHS workforce in June no longer
being reflected in headline data covering 2023 Q3.
- There were 30.2m employees on payrolls in October, a record
high and 1.2m above pre-pandemic levels
- The Spring Budget delivers on our plan to grow the economy in
a way that does not add to inflation – with a package of major
supply side reforms, tackling two of the biggest issues in UK
economic growth – employment levels and business investment.
- The OBR forecast our jobs market reforms announced at the
Spring Budget will bolster our labour market by more than 100,000
by 2027-28.
- In response to falling response rates, the ONS have set out
detailed plans to increase response rates to the labour force
survey, and are planning to reintroduce Labour Force Survey (LFS)
estimates in December 2023.
, Labour's Shadow Work and Pensions
Secretary, responding to the labour market
statistics published this morning by the Office for National
Statistics, said:
"These figures once again show the Tories' failure on the economy
"Our employment rate still hasn't got back to pre pandemic
levels, unlike every other G7 country, and a record number of
people remain locked out of work due to long term sickness. This
is terrible for individuals and their families, especially during
a cost of living crisis, and for taxpayers too as the benefits
bill continues to soar.
"Labour's plan to get Britain working will tackle the root causes
of economic inactivity by driving down NHS waiting lists,
reforming social security, making work pay and supporting people
into good jobs across every part of the country."
Responding to today’s (Tuesday) ONS
labour market figures TUC General Secretary
Paul Nowak
said:
“Our economy is in the relegation
zone.
“Unemployment remains 225,000 higher
than a year ago with vacancies continuing to
decline.
“Working people are far worse off than
they were when the Conservatives took
office.
“If pay packets had been growing at
pre-crisis levels, workers would be on average nearly £15,000
better off. And across parts of the economy, real wages are still
shrinking.
“The Conservatives’ economic
mismanagement is costing people their jobs and livelihoods. It's
time for change.”
