British wage growth hits highest point since 2008: ONS

LONDON -- British weekly wage from March to May 2019 grew at the highest rate since mid-2008, according to figures released Tuesday by the Office for National Statistics (ONS).

Data showed average weekly earnings, excluding bonuses, rose at 3.6 percent year on year, hitting the strongest pace since mid-2008.

However, after taking inflation into account, the average earnings were still lower than in 2008.

Statistics showed that the equivalent weekly pay are 498 pounds (about $618) in May 2019, while 525 pounds in February 2008.

Meanwhile, from March to May 2019, the unemployment rate was 3.8 percent, recording the joint lowest point since the end of 1974.

During this period, employment rate was 76.0 percent, with 0.4 percent higher than a year earlier.

Matt Hughes, deputy head of labour market statistics at ONS, said that: "the labor market continues to be strong, with the employment rate still at a near-record high and unemployment down again."

"The number of self-employed part-timers has passed one and a half million for the first time, well over double what it was 25 years ago," Hughes said.

"Regular pay is growing at its fastest for nearly 11 years in cash terms, and its quickest for over three years after taking account of inflation," Hughes added.