UK economy remains in a “perilous position” as employment falls for third successive month

Responding to today’s (Tuesday) labour market figures, TUC General Secretary Paul Nowak said:

“The UK economy remains in a perilous position.

“This is the third month in a row that PAYE employment has fallen with vacancies also continuing to decline.

“And while average pay has finally crept above inflation – real wages are still shrinking across the public sector, retail, hospitality and construction.

“Let’s not forget – If pay packets had been growing at pre-crisis levels, workers would be on average nearly £15,000 better off.

“So for millions there will be little relief from the cost of living crisis and many will be rightly worried about their job prospects.

“The Conservatives’ economic mismanagement is costing this country dear. Britain is stagnating under their watch.”