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16-04-04 05:54
Income growth fastest in 3 years


Pay grew at its fastest annual rate in nearly three years in the three months to February as the number of people out of work keeps falling, official data shows.

The Office for National Statistics said average earnings growth rose to 4.9 percent during the period, its fastest pace since August 2001, from a revised 4.7 percent in the three months to January.
That was below expectations but still some way above the 4.5 percent rate the Bank of England has said it is comfortable with to keep inflation on target.

The claimant count measure of unemployment fell again in the latest period, down 4,200 in March compared with a fall of 5,300 in February and versus expectations of a drop of 8,000.


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