Slump in real wages for UK workers amongst worst in Europe

PAY DATA

Slump in real wages for UK workers amongst worst in Europe

UK workers have seen some of the sharpest falls in real wages in the European Union during the economic downturn, according to official figures.

Figures compiled by the House of Commons library, following a requested by the Labour Party, show average hourly wages have declined by 5.5% since mid-2010, once inflation is taken into account.

• Among the 27 EU nations, only workers in Greece, Portugal and the Netherlands have faced a steeper decline in hourly wages.
• By contrast, German hourly wages rose by 2.7%, adjusted for inflation.
• Across the European Union as a whole, average real wages fell 0.7%.

 

BBC News - UK wages decline among worst in Europe http://t.co/BduoI520vt

— e-reward.co.uk (@ereward) August 11, 2013