In contrast, real wages were predicted to rise in most of the other 31 countries analysed. The average rate of real pay growth for those 31 countries was 2.6% between 2016 and 2018. The TUC said UK real wages will be 6.8% lower in 2018 than they were in 2007 before the financial crisis, according to OECD predictions. Real pay growth for the eurozone over the decade 2008-18 is forecast to be 3.9%. The TUC general secretary, Frances O’Grady, said politicians must address the poor outlook for UK pay growth as they campaign ahead of June’s election.

Source: The Guardian May 09, 2017 23:01 UTC