Workers in the South West are £1,500 a year worse off than in 2008

Workers in the South West are £1,500 a year worse off in real terms than they were before the financial crash, according to new TUC analysis.

The analysis shows that real wages in the region are 6.7% lower, on average, than they were in 2008.

The TUC says that things could get worse, with the Bank of England warning that real earnings will fall for the rest of 2017.

The TUC says the rise in precarious work – such as zero-hours contracts – is helping drive the fall in living standards.

One in three (33%) jobs created in the South West since 2011 have been in insecure work. The TUC estimates that 281,223 people now work in insecure jobs in the region. That represents One in ten workers in the South West.

TUC General Secretary Frances O’Grady said: “Workers in the South West are £1,500 a year worse off than before the crash.

“This region badly needs a pay rise. It’s nearly ten years since the financial crisis, and working people are still suffering. Politicians have to explain to voters how they’ll create decent jobs that people can actually live on.

“And there needs to be recognition of the damage pay restrictions in the public sector are having. Hard-working nurses shouldn’t have to use food banks to get by.”

END

Notes to Editors:

Weekly real wages in the the South West, 2008-2016

Source: ONS, Annual Survey of Hours and Earnings. Wages are adjusted by CPI, and in 2016 prices.

Employment growth in the South West, 2011-2016

Source: ONS’ Labour Force Survey

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