Biggest wage slump since 1860's

Posted By: James

Monday 13th October 2014

This year is the seventh consecutive year of falling real earnings for UK workers with the length and depth of the squeeze on wages not seen since the economic crisis of the 1860s, according to research from the TUC. Their analysis shows the current pay squeeze is twice as deep as the worst of any episodes since, at 8.2%. The austerity years of 1921-23 only saw falls of 4% and other recessions only lasted two to four years, the TUC says. NHS staff across England and Northern Ireland are to strike tomorrow in protest at the government’s failure to give them a 1% rise, as recommended by the independent pay review body.

[Would you like to leave a comment?]