Average wages have fallen by £50 a week in real terms since 2008, according to new analysis published by the TUC today (Thursday).

The analysis shows that even using the government’s preferred inflation measure (the consumer prices index), which excludes housing costs, workers are on average £2,500 a year worse off in terms of their spending power than they were before the crash.

Last month Bank of England Governor Mark Carney said that average weekly earnings have fallen by around 10 per cent in real terms since the financial crisis.

The TUC analysis shows the cost of this fall for working people and how pay has failed to pick up during the recent economic recovery.

This is the seventh year that average weekly earnings have been falling – the longest period since records began in the 1850s, says the TUC.

Read the rest here.

Follow me on Twitter: @MidWalesMike

Join the Vox Political Facebook page.

Vox Political needs your help!
If you want to support this site
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Buy Vox Political books so we can continue
bringing you the action as it happens!

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here: