New IFS figures show workers could face a decade of pay stagnation

Commenting on new modelling published today (Thursday) by the Institute for Fiscal Studies (IFS) – which shows that real median household income in 2013-14 was six per cent lower than in 2007-08, and that real average earnings won’t return to their 2009-10 level until 2018-19 – TUC General Secretary Frances O’Grady said:

“The IFS analysis shows that years of recession and stagnation have taken their toll on household finances, with many families thousands of pounds worse off today than they were before the crash.

“Last year’s recovery failed to improve people’s earnings and unless things change, workers across Britain could face a decade of pay stagnation.

“If the government really wants to help hard-working people it should lead by example and become a living wage employer, as well as using the £240bn it spends in the private sector every year to encourage other employers to pay a living wage too.”

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