Hourly wages have fallen 7.6 per cent

Latest business news
Latest business news
Share this article
1
Have your say

Average hourly wages have fallen by 7.6 per cent over the past few years, official figures have revealed, prompting warnings that workers have been hit by a “deep squeeze” in their pay.

The drop between 2008 and the end of 2013 was 13.4 per cent in the construction industry, compared with 4.2 per cent in finance and business services, said the Office for National Statistics. TUC general secretary Frances O’Grady said: “Workers across the economy have experienced a deep squeeze in their pay packets since 2008.

“Construction workers have been hit the hardest and are currently receiving just 86p for every pound they earned before the crash.

“What’s even more worrying is that the recent recovery is failing to raise living standards. Disposable incomes are still falling and people are no better off today than they were nine years ago.

“We need a recovery that benefits ordinary families, rather than one where the proceeds of growth just go to the same old wealthy elites.”

For all the latest news you can also follow us on Twitter, like our Facebook page or subscribe to the newspaper or Tablet apps here.