It was easy to miss some outstanding news regarding the health of the UK economy. High employment and wage growth mean increased spending power in the economy and income tax revenues for the exchequer. Wages have been growing steadily in the last two years with the minimum wage playing a key role. For those seeking a change of career, it brings a variety of opportunities and likely salary increases.
Wage growth in the UK accelerated to 3.6% in the year to May 2019, the highest rate since 2008, according to Office for National Statistics figures. Wages have been outpacing inflation since March 2018. A record high of 32.75 million people were in employment up to the end of May, while 1.29 million were out of work, the lowest since at least 1992.