The average wage is worth £2,500 less a year since Cameron became PM, says TUC

cwu__1366649015_Frances_OGrady_1.jpgCommenting on the speech David Cameron is due to make today (Tuesday) on pay to the British Chambers of Commerce, TUC General Secretary Frances O’Grady said

“Since David Cameron became Prime Minister the average wage is worth £2,500 less a year, the worst fall in living standards since Queen Victoria was on the throne".

“Saying it would be nice if wages went up is no more than pre-election mood music. If elected again his policies would do the opposite. Huge cuts would take spending back to the same share of the economy as in the 1930s. This would depress the economy and mean public sector wages would fall every year. On top of that he would make strikes almost impossible, holding back pay across every sector.”

The Prime Minister’s speech is expected to highlight the situation for wages in different sectors for the three month period September to November 2014.

From April 2010 to April 2014, the value of average gross annual earnings of full-time employees in the UK decreased by £2,509, or 8.4 per cent (Source: ASHE, adjusted by RPI).

The following chart shows the change in wages for different sectors from 2010 to 2014.

Real median UK gross annual wage changes from 2010 to 2014

 

Manufacturing

Service Industries

Retail cashiers

Public Sector

Private Sector

2010 real

£28,986.60

£29,630.44

£15,073.45

£32,523.71

£28,347.35

2014 real

£27,763.00

£26,879.00

£13,911.00

£29,785.00

£26,000.00

2010-14 real £ change

-£1,223.60

-£2,751.44

-£1,162.45

-£2,738.71

-£2,347.35

2010-14 real % change

-4.2%

-9.3%

-7.7%

-8.4%

-8.3%

Source: ASHE 2010 Revised, and ASHE 2014 Provisional

Britain Needs a Pay Rise is a TUC campaign and more information can be found at http://www.tuc.org.uk/economic-issues/britain-needs-pay-rise

The TUC is organising Fair Pay Fortnight between Monday 16 February and Sunday 1 March. The Fortnight is part of the campaign and will feature a series of events across England and Wales to raise awareness about low pay, pay inequality and the need for higher pay settlements in the public and private sector. For more information please visit www.fairpayfortnight.org

Follow the TUC on Twitter: @tucnews

Copy taken from TUC Press Release issued 10 February, 2015

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