Workers are £1,000 worse off since 2010

Labour Party analysis of official figures from the Office for National Statistics has found that workers have lost an average of £1,000 per year in real terms since 2010.

The Party noted that real term wages are now an average of 3.45% lower than when the Conservative Party first came into power.

If the average weekly wage in 2010 were adjusted for inflation, it would be equivalent to £609.40 today. But workers are only getting paid £589.70 per week – £20 less. Over the course of a year, this tots up to £1,040.

Angela Rayner, Shadow Secretary of State for the Future of Work, said: “This government has totally failed working people. In-work poverty is at record levels and millions of working people are struggling to make ends meet whilst mates of Ministers and Conservative donors are given billions of pounds of taxpayers’ money.”

She added: “It’s time to make our economy work for working people. Labour would immediately raise the minimum wage to at least £10 an hour and give workers more power in discussions about pay and benefits by supporting people to negotiate pay rises collectively with all workers in their sector so they can get the fair pay that they deserve.”