Real pay has stalled at 1.7% for last five months
20 January 2017
Working people want to know how Prime Minister’s ‘fairer Britain’ will improve their pay, says TUC.
Commenting on the latest labour market data by the Office for National Statistics, which show real pay growth (excluding bonuses) has stalled at 1.7% for the last five months, TUC General Secretary Frances O’Grady said:
“Pay gains are being slowed down by rising prices, and this week’s figures showing a sharp hike in the cost of everyday goods suggests there is worse to come.
If working people are going to feel a difference in their finances, their pay needs to grow faster. They will want to know what Theresa May has planned to deliver the ‘fairer Britain’ she promised in their wages.
Ministers can help directly by raising the minimum wage and giving public sector workers a long-overdue pay rise. The government can also lay the foundations for a higher-productivity, higher-wage economy by using its new industrial strategy to invest more in skills and infrastructure.”
Average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 2.8% including bonuses and by 2.7% excluding bonuses compared with a year earlier.