Real wages falling at the “fastest rate” on record

Commenting on today’s (Tuesday) labour market figures, which show real wages falling at the fastest rate since current records began in 2000, TUC General Secretary Frances O’Grady said:

“Working families need financial security.

“But real wages are falling at the fastest rate since current records began.

“We can’t go on like this. UK workers are suffering the worst pay squeeze in modern history.

“The priority for the country must be to get wages rising across the economy – not tax cuts.

“That means decent pay rises for public servants, a higher minimum wage and stronger bargaining rights for working people and their unions.”

TUC analysis published earlier this month revealed that the UK is on course for the worst real wage squeeze in the G7.