Bryant – “Brexit squeeze on real wages is tightening”

Today’s labour market statistics show real wages continue to fall.

Commenting, Chris Bryant MP, leading supporter of Open Britain, said:

“The Brexit squeeze on real wages is tightening. Low wage growth combined with the post-referendum rise in inflation is hurting workers in their pockets.

“The OECD and the TUC have both forecast the UK will have the worst real wage growth across the EU this year. While real wages in other European countries continue to grow, the UK is lagging far behind.

“As this squeeze on our economy and living standards continues, everybody has the right to reconsider whether the path out of the EU is the right one to be taking.”

/ends

 

Notes to editors

The Office of National Statistics press notice states: Comparing the three months to November 2017 with the same period in 2016, real AWE (total pay) fell by 0.2%, unchanged from the three months to October 2017. Nominal AWE (total pay) grew by 2.5% in the three months to November 2017, while the CPIH increased by 2.8% in the year to November 2017. In the same three-month period, real AWE (regular pay) fell by 0.5%, that is, 0.1 percentage points more than the same three months to October 2017. Nominal AWE (regular pay) rose by 2.4% in the three months to November 2017.

The full press notice is available here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/articles/supplementaryanalysisofaverageweeklyearnings/january2018