It's boom time again for the super-rich, says TUC

date: 14 August 2013

embargo: For immediate release

Commenting on the latest labour market statistics published today (Wednesday), TUC General Secretary Frances O'Grady said:

'Today's figures show that it's boom time again for the super-rich, while the dole queues are getting longer for young people.

'The bounce in bonus-led pay rises shows that the super-rich have taken full advantage of the Chancellor's telegraphed tax cut. Meanwhile ordinary workers are struggling on as the cost of living increases three times faster than wages.

'The jobs news is mixed. A further rise in employment is encouraging but the number of young people out of work is creeping back towards a million.

'The government's idea of economic recovery is one where the super-rich are rewarded with tax cuts, while low-paid, insecure work is perfectly acceptable for ordinary workers. It's no wonder consumers are having to run down their savings to keep up with the rising cost of living.

'This is a recovery for the top one per cent, while the living standards crisis continues for everyone else.'

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