GMB Experts in the World of Work
Join GMB today
 Follow @GMB_union

GDP Per Head Still 3% Below 2007

Wednesday, October 15, 2014

Economic Recovery Has Long Way To Go Since Growth In 2014 Will Leave GDP Per Head 3% Below 2007 Levels

Pay is just 0.7% higher and below inflation which is why GMB members will be out in force on Saturday in demonstrations in London and Glasgow calling for decent pay rises.

GMB commented on official pay and jobs figures released today by Office for National Statistics.

Paul Kenny, GMB General Secretary, said "The long delayed recovery underway is welcome.

The economic recovery has a long way to go as even with strong growth this year GDP per head will be still 3% below 2007 levels. See notes to editors for changes in GDP per head since 2007.

It is essential that as the public finances improve that money is spent getting the two million still on the dole back to work and restoring living standards for hard pressed workers. Talk about tax cuts while services are being cut is well out of order

Pay is just 0.7% higher than a year earlier. That is below inflation. That is why GMB members will be out in force on Saturday in demonstrations in London and Glasgow calling for decent pay rises."

End

Contact: Kamaljeet Jandu 07956 237 178 or Martin Smith 07974 251 722

Notes to editors

GDP per head since 2007 at constant prices.

 

GDP: chained volume measures: Seasonally adjusted £m

population

GDP per capita

2007=100

% change since 1997

2007

1,552,989

61,319,100

25,326

100

 

2008

1,541,039

61,823,800

24,926

98.4

-1.6

2009

1,461,361

62,260,500

23,472

92.7

-7.3

2010

1,485,616

62,759,500

23,672

93.5

-6.5

2011

1,502,216

63,285,100

23,737

93.7

-6.3

2012

1,506,388

63,705,000

23,640

93.3

-6.7

2013

1,531,428

64,135,000

23,878

94.3

-5.7

2014

1,585,028

64,510,969

24,570

97.0

-3.0

           

NB: 2014 population data are 2012-based projections for start of the year

 

GDP figures for 2014 calculated using 3.5% growth since 2013

   
Share this page
+1