Why the British jobs recovery has not brought bulging pay packets

Weaker unions and lower inflation have coincided with a structural change that has resulted in an increased supply of labour

The last time Britain's unemployment rate was this low was in July 2008, two months before the collapse of Lehman Brothers plunged the global economy into recession.

Jobs growth in the three months to February was strong, with 248,000 more people in work than in the quarter ending in November. The proportion of people aged 16 to 64 in work stood at 74.4%, the highest since comparable records began in 1971. There were 743,000 job vacancies - up 124,000 on a year earlier.