THE weekly amount of money families have left after paying for essentials has risen £12.05 in a year.
Households typically had £216 to spend each week in July — a 5.9 per cent increase on the previous year.
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It comes as employers pay more to attract and retain workers.
Wage growth in the three months to June was averaging 3.9 per cent year-on-year — the highest in 11 years. The construction sector did best, up 5.2 per cent, while finance workers saw a 4.5 per cent rise.
The family spending power figure — cash left after paying bills such as rent and groceries — was worked out by the Asda Income Tracker.
The employment rate for the same period was at a record high of 76.1 per cent.
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Kay Neufeld, of consultany Cebr, said: “A slowdown in output has not yet affected the labour market. Meanwhile, inflation is close to the Bank of England’s two per cent target. The volatility of the Pound could lead to higher inflation in coming months. Until then, households can expect to benefit from further increases in their spending power.”
