Member Article

Real value of workers' wages declines 13.8% over last five years

The real value of average earnings for UK workers dropped by 13.8% between April 2008 and November 2013, according to samples taken from HM Revenue and Customs PAYE records.

A study by the GMB Union shows the the mean gross annual earnings for UK workers in April 2008 was £26,137, and in April 2013 it was £27,174.

This 4% rise occurred against a backdrop of 17.8% inflation - meaning a drop in real value of earnings over the five year period.

A handful of London boroughs, along with Warrington, Sheffield and Hartlepool were among the 20 worst affected areas in the UK.

GMB general secretary Paul Kenny said working people needed a “decent” pay rise to halt declines in living standards.

His comments follow calls this week from CBI boss John Cridland for businesses to pay their staff more after a long period of squeeze.

This was posted in Bdaily's Members' News section by Tom Keighley .