Past decade 'historically bad for working people's incomes'

By agency reporter
January 12, 2018

Working households have gained just £650 extra to spend since 2006/07, less than a tenth of what they gained in the previous decade (£7,200).

Trades Union Congress (TUC) analysis of the latest figures from the Office for National Statistics shows that working households’ disposable incomes have risen by a mere 0.2 per cent a year since 2006/7 – compared to annual growth of 3.3 per cent in the ten years before that.

And the TUC is warning that this decade’s meagre increase could be wiped out in the coming year, as real wages are expected to continue falling in 2018.

The small growth in household income is mainly driven by more households having work. But pay is lower, with average real wages still worth £38 per week less than before the crisis.

TUC General Secretary Frances O’Grady said, “It’s been a historically bad decade for working people’s incomes.

“More people are working than ever, but their incomes have barely budged in a decade. That should set alarm bells ringing in Westminster.

“Britain needs a pay rise. Ministers should hike up the minimum wage and get investing across the UK.”

* The ONS figures on household disposable incomes can be found here



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