Wages in UK among biggest fallers in Europe

Workers in the UK have seen their salaries cut.


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By :  ,  Financial Analyst

New data has shown that wages in the UK have fallen by more than much of Europe in the last three years.

Figures requested by the Labour Party indicated that average hourly wages have fallen 5.5 per cent since mid-2010, with this having been adjusted for the effect of inflation.

The data showed that this was the fourth-worst decline among the 27 EU nations, while the average across the whole of the EU was a 0.7 per cent drop.

Responding to the figures, shadow Treasury minister Cathy Jamieson stated that the government is facing a "cost of living crisis".

"Despite out-of-touch claims by ministers, life is getting harder for ordinary families as prices continue rising faster than wages," she said.

But a Treasury spokesperson insisted that the economy in the UK is "on the mend", with growth of 0.6 per cent having been recorded in the second quarter of the year.

After this rose from 0.3 per cent between January and March, some analysts have forecast growth will be above one per cent for the year as a whole.

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