Workers in middle of ‘longest pay squeeze in 200 years’, says TUC
Commenting on today’s (Tuesday) labour market statistics from the Office for National Statistics – which show pay growing at 3.3% – TUC General Secretary Frances O’Grady said:
“The rise in pay growth is little consolation for workers in the middle of the longest pay squeeze in 200 years, with real wages expected only to get back to pre-crisis level in 2024.
“We need a plan that supports jobs and wages. That means the government putting the minimum wage up to £10 as quickly as possible. And it means giving unions the freedom to enter every workplace and negotiate fair pay rises.”
- Economic forecasts published by the Office for Budget Responsibility on Monday 29 October show that UK wages are not expected to return to their pre- financial crisis peak until at least 2024. This would mean UK workers waiting a total of 16 years from the financial crisis in 2008 until their pay is fully recovered – the longest wage slump in 200 years: https://obr.uk/overview-october-2018-economic-fiscal-outlook/
- The Trades Union Congress (TUC) exists to make the working world a better place for everyone. We bring together more than 5.5 million working people who make up our 49 member unions. We support unions to grow and thrive, and we stand up for everyone who works for a living.
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