WORKERS are continuing to suffer the longest pay squeeze in more than 200 years after figures showed today that Britain’s wage growth has declined again.
Regular wage growth, excluding bonuses, has fallen back once again to 6 per cent in the three months to February from 6.1 per cent in the previous quarter, according to the latest figures by the Office for National Statistics.
When taking the Consumer Prices Index (CPI) into account, real regular wages rose by 2.1 per cent due to falling inflation, but according to the TUC, if pay had grown at the pre-financial crisis rate, the average worker would be earning £14,700 more a year.
Unite general secretary Sharon Graham said: “We will need more than a little bit of real-terms wage growth to change the fact that this is the first UK parliament in modern history to oversee an overall decline in living standards.
“There are still over a million workers on zero-hours contracts, corporate profits are sky high, and the UK economy is crying out for proper investment and an industrial strategy.”
Ms Graham cited trade union organisation as key to getting living standards rising again.
The latest ONS figures also showed unemployment had risen by 85,000.
Rates jumped to 4.2 per cent in the three months to February — the highest level for nearly six months.
Economic inactivity rose by 150,000, while HM Revenue & Customs data showed that the number of workers on payrolls fell by 67,000 in March — the biggest drop since the height of the pandemic in 2020.
Vacancies fell for the 21st period in a row, falling by 13,000 in the first three months of 2024.
TUC general secretary Paul Nowak said: “Working people have suffered the longest pay squeeze in more than 200 years thanks to the Conservative government.
“We need a fresh start with a proper plan for jobs and growth to make sure family incomes can recover and everyone feels secure at work.”
Another 2.8 million people are not working due to long-term sickness.
Mr Nowak added: “NHS waiting lists are near record levels. But instead of taking responsibility, the Tories are attacking people who are too sick to work.
“When people can access treatment faster, they will return to work sooner.”
