People are not celebrating an end to their cost of living squeeze yet

Responding to the latest labour market figures published today (Wednesday), TUC General Secretary Frances O’Grady said:

“With wages increasing by just 1.7 per cent, barely enough to keep up with a prices measure that doesn’t even include housing costs, the cost of living crisis is far from solved. This is not worth even half a cheer.

“Workers are still on average £40 a week worse off than they were in 2010, and we will need months of much better figures to take us anywhere near a recovery to pre-crash living standards. This government will have at best presided over more than three times as many months when living standards fell than when they rose.

“It’s encouraging that the economy is creating jobs – and that young people are finally sharing in the jobs improvements. But this only tells part of the story. With three in five recent jobs created being self-employed, many people find that work no longer offers the security, basic workplace rights and decent pay that most expect.

“The time to celebrate recovery will be when ordinary workers return to pre-crash living standards and the economy is generating more secure skilled jobs with good prospects and decent pay.”

NOTES TO EDITORS:

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