Wages will take at least the next parliament to recover at current rate, says TUC
“At the current rate of progress it will take until at least the end of the next parliament just for wages to recover their lost value. There is still a long way to go before we see a full labour market recovery.
18 February 2015
Commenting on the latest labour market statistics published today (Wednesday) by the Office for National Statistics, TUC General Secretary Frances O’Grady said:
“At the current rate of progress it will take until at least the end of the next parliament just for wages to recover their lost value. There is still a long way to go before we see a full labour market recovery.
“The failure to make progress on youth unemployment is a big concern. The government seems to have given up, with the Conservatives suggesting young people should be forced into zero-pay workfare, instead of fair pay jobs.”
NOTES TO EDITORS:
- The TUC is organising Fair Pay Fortnight 2015 between Monday 16 February and Sunday 1 March. The Fortnight is part of the TUC’s Britain Needs a Pay Rise campaign and will feature a series of events across England and Wales to raise awareness about low pay, pay inequality and the need for higher pay settlements in the public and private sector. For more information please visit www.fairpayfortnight.org
- All TUC press releases can be found at www.tuc.org.uk
- Follow the TUC on Twitter: @tucnews
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