UK Wages Falls Amongst Worst in Europe

UK Wages Falls Amongst Worst in Europe.

The House of Commons has published figures that show that the UK pay cuts are amongst the worst in Europe.

Labour is pioneering the requirement of a living wage, i.e. one that you can reasonably survive on as opposed to the current minimum wage, yet austerity measures show that hourly rates of pay have fallen dramatically on average since 2009.

The Institute of Fiscal studies released figures earlier this year showing that from 2009 to 2011, average private sector pay had fallen from £15.10 per hour to £13.60 and average public sector pay had fallen from £16.60 per hour to £15.80 per hour.

Comment
The figures released by the House of Commons suggest that the UK was 4th worst in the rate of pay decline.  That said, hourly rates of pay overall were still amongst the highest in Europe.