Employment

Baroness Whitaker Excerpts

Wednesday 21st January 2015 Lords Chamber

[Lord Freud]

The noble Lord makes an excellent point. This is a complicated area. We have had some large-scale debates in which we have had some very interesting contributions from all over the House. One of the most important things that the Government are trying to do is restructure the market so that we have sustained genuine employment. One of the most encouraging figures that we have seen is that the number of untrained people who have moved into the middle section of the market has improved quite strongly over the past four years.

[Baroness Whitaker (Lab)]

My Lords, I welcome what the Minister said about genuine employment, but following the questions from the two noble Lords opposite, which he must have welcomed, can he say what is the median annual pay of those new jobs?

[Lord Freud]

All I can say on what is happening in the market in terms of real disposable incomes is that we are now seeing inflation falling below the level of pay increases. In the latest set of figures, regular pay went up by 1.8%, compared to a 1% rise in inflation in the same period. We have seen some extremely encouraging forecasts. I cite the Ernst & Young ITEM Club forecast that real disposable incomes were likely to rise by 3.7% in 2015.