Thursday, March 7, 2013

UK workers suffer sharpest wage fall of any developed country as business leaders warn the pain is far from over

British workers have seen their wages plummet faster than any other workforce in a developed economy, a new study reveals today.

Real wages dropped by 4.5 per cent between 2007 and 2011, leaving workers with smaller incomes at a time of rising costs for basic necessities such as food, fuel, gas and electricity - not to mention housing costs.

This marks a considerably sharper squeeze than the 2.7 per cent fall in Italy or 0.7 per cent drop in Japan, according to the report from the TUC.

http://www.dailymail.co.uk/money/news/article-2289551/TUC-UK-workers-suffer-sharpest-wage-fall-developed-country.html