TUC Figures Highlight How Bad Things Are Due to Stagnating Wages

ECONOMIC FAILURE - North East workers are £6,400 worse off than if real wages had stayed at 2008 levels, TUC analysis shows

Household debt has increased by a third since 2010 to new record of £14,200

TUC calls on parties to get wages rising, defend workers’ rights and rebuild public services

A decade of low pay has driven working families deep into the red, according to new analysis published today (Tuesday), as the TUC unveils its general election priorities.

Real wages in the North East still haven’t recovered to their 2008 levels – the longest pay squeeze in centuries. As a result, the average worker in the region is £6,421 worse off today than they would be had wages kept pace with inflation since 2008.

In the same period, unsecured household debt in the UK has risen by a third to a record high of £14,177.

In nominal terms, household debt has risen 1.5 times faster than wages since 2010.

Individual insolvencies are also at their highest level since 2010. More than 115,000 people were pushed over the financial cliff edge in 2018.

In the first three quarters of 2019 93,042 people declared individual insolvency, meaning this year will likely surpass 2018.

Putting working families first

The TUC believes that this is the most important election in a generation and is calling on all parties to put working families first.

At this election, the TUC is calling on all parties to put working families first. They must:

Get wages rising faster for everyone - not just the boardroom

Ban zero hours contracts and guarantee everyone the security at work we need 

Rebuild our NHS and the public services we all rely on - don't cut taxes for the rich

Sort Brexit in a way that protects jobs and rights at work, and give people a final say

TUC Regional Secretary Beth Farhat said:

“Wages have stood still for over a decade, but the cost of living is still going up. Many households in the North East have been pushed to the financial cliff edge.

“Working-class families have had enough of a system that’s rigged in favour of the rich and bosses. We want better than rising debts and low-paid jobs on impossible hours that make it hard to see our loved ones.

“So in this election, we’re going to use our votes to fix Britain and make politicians put working families first.”

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