TUC says UK needs much stronger wage settlements and more investment in high skilled jobs and a high productivity economy
The research also says men and young people are hit hardest by the wage squeeze.
TUC general secretary Frances O’Grady said: “The biggest living standards squeeze since records began is nothing to celebrate, with everyone a loser from falling pay.
“At the wealthier end, losses have been offset by rising property values. But everyone else has been hit by a triple whammy of falling pay, cuts to in-work support like tax credits, and cuts to the services they depend on. And the future cuts in George Osborne’s plans mean years more pain to come.
“We must do far more than hope for a lucky run of low inflation figures to restore wages. We need much stronger wage settlements and more investment in high skilled jobs and a high productivity economy.”
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