Region’s workers suffer drop in real value of earnings over last five years

Drop in real value of earnings
Drop in real value of earnings
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North west workers have suffered a 13.4 per cent drop in the real value of their earnings since 2008, according to new figures revealed today.

The drop in the real value of average earnings of all employees in employment between April 2008 and November 2013 in the UK has been 13.8 per cent a new GMB study of official earnings data shows.

In April 2008 the mean gross annual earnings for all employees in employment in the UK was £26,137.

The figure for the mean gross annual earnings for all employees in employment in the UK for April 2013 was £27,174. This is an increase of £1,037 or just four per cent.

Between April 2008 and November 2013 inflation has been 17.8 per cent. This means the drop in real value of earnings between April 2008 and November 2013 has been 13.8 per cent for the UK.

The drop in the real value of average earnings between April 2008 and November 2013 for all employees in employment resident in London has been 20.4 per cent, the largest drop of all 12 regions in the UK.

Next is Yorkshire and The Humber with a drop of 15.4 per cent , followed by South East and the East Midlands 14.4 per cent, East of England 13.8 per cent , South West 13.7 per cent, Wales 12.5 per cent, Northern Ireland 12 per cent, West Midlands 10.5 per cent, Scotland 9.9 per cent and North East 8.6 per cent.

Worst drop in real terms was Hammersmith & Fulham down 49.1 per cent.

Other figures: Warrington 24 per cent, Sheffield 23.9 per cent, Windsor & Maidenhead 23.7 per cent, Harrow 23.6 per cent and Blackpool 22.6 per cent .

The only area to increase is Moray in Scotland at 1 per cent.

The data was published by Office for National Statistics.

Paul Kenny GMB General Secretary said “These alarming figures show how hard pressed working people across the UK are struggling to pay their bills after years of wage decline and attacks on the living standards of families throughout the land.

“Working people deserve and need a decent pay rise to halt the drop in living standards.”