Recovery Underway Is Welcome But There Is A Very Long Way To Go To Climb Out Of The Hole Caused By The Recession Says GMB
GDP per head is still 5.8% below 2007 levels which is the root cause of average earnings being down 13.8% in real terms since then says GMB.
GMB commented on unemployment figures released today 16th April.
Paul Kenny, GMB General Secretary, said “The recovery underway is welcome but we have a very long way to go to climb out of the hole caused by the recession. Given the increase in population GDP per head is still 5.8% below 2007 levels. See notes to editors for figures
This is the root cause of average earnings being down 13.8% in real terms since then. The pay of the bottom 50% of the workforce is still being squeezed. Public sector workers pay is being frozen or increasing less than inflation. This explains why Tesco like for like sales are down.”
Contact: Rehana Azam 07841 181656 or Martin Smith 07974 251 722 or Mick Rix 07971 268343 GMB press office 07921 289880
Notes to editors
|Year||GDP seasonally||Population||GDP per head £||Index||% change|