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Biggest Wage Fall For Three Years

Wednesday, May 17, 2017

 

'Proof positive' that austerity has failed working people, says union.

GMB has called for a commitment from all political parties to tackle falling wages and living standards as new figures today show the first quarterly decline in earnings since 2014.

This comes on the back of an increase in inflation that many attribute to Brexit.

Average weekly earnings fell by 0.2% in the 3 months to March 2017 compared with a year earlier, when adjusted for inflation and excluding bonuses. [1]

Tim Roache, GMB General Secretary, said:

“A decline in earnings is about less money in people's pockets. It's less money for rent, to pay the bills, to feed the kids.

"It's not good for working people and it takes a toll on local economies as well.

"An economic recovery where working people are earning less isn't an economic recovery at all.

“These figures are proof positive that austerity isn't working and it's working people paying the price."

ENDS

Contact: GMB press office on 07958 156846 or at press.office@gmb.org.uk

Notes to editors

[1] The ONS said this morning that: "Adjusted for consumer price inflation including owner occupiers’ housing costs (CPIH), average weekly earnings increased by 0.1% including bonuses, but fell by 0.2% excluding bonuses, in the 3 months to March 2017 compared with a year earlier. This is the first decline in real earnings since the 3 months to September 2014." https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/labourmarketeconomiccommentary/may2017

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