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Wages back above pre-economic crisis levels

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Average weekly wages in the UK have returned to pre-economic crisis levels for the first time since March 2008.

Weekly pay reached £511 in the three months to December – the last time they were this high, after adjusting for inflation, was before the downturn.

Excluding bonuses, earnings grew at an annual rate of 3.2% in the three-month period, official figures show.

Employment rose by 336,000 to another record high of 32.93 million, while unemployment stayed at 1.29 million.

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