Record fall in UK wages
Unite GS Sharon Graham: latest figures underline fact that wages are not driving inflation
New data has shown that the value of UK workers’ wages has fallen at the fastest rate in over 20 years this June.
The figures from the Office for National Statistics (ONS) showed that the real value of workers’ wages, measured against skyrocketing inflation, has fallen by 3 per cent in the three months to June – the fastest drop since records began in 2001.
Commenting on the record three per cent fall in wages in real terms for UK workers, Unite general secretary Sharon Graham said, “This record fall in real wages demonstrates the vital need for unions like Unite to defend the value of workers’ pay.
“It also underlines the fact that – as we have said many times – wages are not driving inflation. We will continue to do whatever is necessary to defend jobs, pay and conditions during this cost-of-living crisis.”
You can read Unite’s ground-breaking report on corporate profiteering — which shows that the real driver of inflation is not in fact rising wages — here.
By UniteLive team