‘Value of earnings in region 15% down on 2008’

Published: Wednesday 30th December 2015 by The News Editor

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Workers in Hull and East Yorkshire have seen the value of their earnings drop by almost 15% since 2008, new research suggests.

The study by the GMB union says the value of average earnings in Yorkshire and the Humber has fallen by 14.9%, meaning it has experienced the fourth biggest drop in the UK.

The regional fall is almost 3-times as high as the 5% seen in the North East and above the national average of 13.6%, the union says.

London has experienced the biggest fall (23.2%) in the value of earnings in real terms while the 4.9% drop in Northern Ireland is the smallest.

Official figures show that between April 2008 and April this year, the typical UK worker’s gross annual pay increased by 7% from £31,494 to £33,689.

But the GMB’s general secretary, Paul Kenny, says with cumulative inflation amounting to 20.6% over the last 7 years, the value of the average full-time worker’s pay has fallen in real terms.

Pay rises above inflation are now needed, he adds, to make up lost ground.

Copyright Press Association 2015

Published: Wednesday 30th December 2015 by The News Editor

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