Mind the pay gap
HOW WE’RE £400 A YEAR WORSE OFF NOW THAN BEFORE THE CRASH
WORKERS in the North East are over £400 a year worse off in real terms than they were before the financial crash, it has been claimed.
According to analysis by the TUC, in 2008 real wages in this region stood at £411.84 a week. In 2016, they stood at £403.80, an £8 a week drop or a £419 annual fall.
The TUC predicts that things could get worse, with the Bank of England warning that real earnings will fall for the rest of 2017.
It also said a big increase of people in “insecure employment” like zero hours contracts is helping to push down living standards.
TUC general secretary, Frances O’Grady, said: “Workers in the North East are over £400 a year worse off than before the crash.
“This region badly needs a pay rise. It’s nearly 10 years since the financial crisis, and working people are still suffering.
“Politicians have to explain to voters how they’ll create decent jobs that people can actually live on.
“And there needs to be recognition of the damage pay restrictions in the public sector are having. Hard-working nurses shouldn’t have to use food banks to get by.”
Quoting Office for National Statistics figures, the TUC says that of the 59,788 growth in jobs since 2011, 39,816 are classed as ‘insecure,’ 67% of the total.
The TUC estimates that 124,000 people now work in insecure jobs in the region – up from 84,000 in 2011. That represents one in nine workers in the North East.
A Conservative party spokesperson said: “Getting Brexit right is central to our economy – and negotiations start just 11 days after you vote. There are now 78,442 more people in work in the North East than in 2010, and the National Living Wage is a pay rise worth £500 for 80,000 people in the North East – and we want to build on that. Theresa May has the plan for Brexit and ability to deliver – but Jeremy Corbyn just isn’t up to it.”