Employment statistics tell skewed story about UK jobs market Katie Allen

Workers' influence over their hours, conditions and pay has been eroded as a culture of insecurity takes hold

Something funny is going on in Britain's jobs market. And it's not a joke.

Unemployment has dropped to 4.5%, the lowest since 1975. The employment rate is the highest on record at 74.9%. On paper, it's the tightest labour market in almost half a century, and yet workers are no better off. In fact, they are worse off after adjusting for inflation.