British workers have suffered 8.5 per cent real-term wage drop, says TUC

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date: 21 May 2013

embargo: For immediate release

British workers have seen the value of their real wages fall by 8.5 per cent over the last three years, according to new analysis from the TUC today (Tuesday).

Responding to the latest inflation figures published this morning, the TUC said that average salaries in March 2013 were £2,234 down on their 2010 level.

TUC General Secretary Frances O'Grady said: 'Inflation may have slowed a little but there is no hiding the fact that prices are still rising over three times faster than wages.

'Average pay packets have fallen by nearly 10 per cent over the last three years - eroding the spending power of households and eating away at the value of savings for those families still fortunate enough to have them.

'The government's self-defeating austerity programme has added to this pressure on family budgets, with cuts to tax credits, a freeze in child benefit and a VAT hike.

'Unless we start to see real wages increase, consumer spending will remain weak and the economy will continue to struggle.'

NOTES TO EDITORS:

Fall in real wages between March 2010 and March 2013

Mar 2010

Mar 2013

Change (£)

Change (%)

Average weekly wages

£506

£463

£-43

-8.5

Average annual salary

£26,310

£24,076

£-2,234

-8.5

- Figures published by the Office for National Statistics today show that the RPI inflation was 2.9% in April and CPI 2.4%.

- The TUC campaign plan can be downloaded from www.tuc.org.uk/campaignplan

- All TUC press releases can be found at www.tuc.org.uk

- Follow the TUC on Twitter: @tucnews

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Alex Rossiter T: 020 7467 1337 M: 07887 572130 E: arossiter@tuc.org.uk

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