The real value of average earnings of all employees living in the North West has dropped by 13.4% between April 2008 and November 2013, a study has shown.
In April 2008 the mean gross annual earnings for all employees resident in the region according to the GMB union’s Annual Survey of Hours and Earnings (ASHE) was £23,522
The ASHE figure for the mean gross annual earnings for all employees resident in the region for April 2013 was £24,561.
This is an increase of £1,039 or 4.4% however between April 2008 and November 2013 inflation has been 17.8%.
This means the drop in real value of average earnings in North West between April 2008 and November 2013 has been 13.4%.
Inflation was 17.8%.
Wages in Lancashire rose by 4.4% leading to a drop in real terms of 13.3%
Paul Kenny GMB General Secretary said “These alarming figures show how hard pressed working people across the region are struggling to pay their bills after years of wage decline and attacks on the living standards of families throughout the land.