Fall in overall unemployment is welcome …
… but after four years when prices risen faster than wages there is huge amount of lost ground to catch up
Rachel Reeves MP, Labour’s Shadow Work and Pensions Secretary, responding to Labour Market Statistics, said:
"Today’s fall in overall unemployment is welcome, but after four years when prices have risen faster than wages there is a huge amount of lost ground to catch up. Working people are now over £1,600 a year worse off than when David Cameron came to office, most people are not feeling any recovery and the link between the wealth of the nation and family finances remains broken.
“The Government has failed to tackle low pay and as the OBR has said, stagnant wages and too many low-paid jobs are leading to rising borrowing.
"A Labour government will make work pay and tackle the cost-of-living crisis by raising the National Minimum Wage to £8 an hour, bringing in Make Work Pay contracts to ensure more people are paid a Living Wage, getting more homes built and extending free childcare provision. And we will get the next generation into work with a Compulsory Jobs Guarantee.
"Making work pay is an important part of Labour’s economic plan to tackle the cost-of-living crisis and earn our way to higher living standards for all."