ONS figures announced today (Tuesday) show inflation (2.9% in May) continues to far outstrip wage growth (2.1% in March).
TUC General Secretary Frances O’Grady said:
“The election showed that working people are struggling. And the biggest price rises in four years won’t provide any comfort.
“Working people are still £20 a week off worse, on average, than they were before the crash – and now rising prices are hammering their pay packets again.
“The new government must stop the real wage slide. Ministers must focus on delivering better-paid jobs all around the UK.
“And it’s time to lift the artificial pay restrictions in the public sector. Our hardworking nurses and teachers are long overdue a pay rise.”
OECD analysis published last week revealed that UK workers will face the biggest real wage fall of any advanced economy in 2018.
The figures showed that UK real wages will fall by 1.1% in 2018 – putting the UK and Finland at joint-bottom of the league for wage growth among OECD countries.