Employees in the UK have experienced a bigger fall in real wages than any other workforce in the world’s top ten developed economies, according to research by trade union Trades Union Congress (TUC).
Its Global race report found that real wages fell by 4.5% in the UK between 2007 and 2011, compared to declines of 2.7% in Italy and 0.7% in Japan.
In contrast, wages in Australia and Canada rose by 6.9% and 5.4%, respectively.
According to the report, these figures outline how the recession and subsequent economic stagnation have put pressure on the incomes of ordinary workers.
Frances O’Grady, general secretary of the TUC, said: “While most countries have suffered periods of negative wage growth, no-one has witnessed such a marked decline as the UK.
“Businesses desperately need people to spend money, but employees are cutting back as their wages are squeezed.”