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Rising Unemployment Kicks Out Legs From Govt Plan

Wednesday, February 21, 2018

 

RISING UNEMPLOYMENT KICKS OUT LAST LEGS PROPPING UP GOVERNMENT'S FAILED ECONOMIC PLAN

Ministers must put investment in jobs, industry and our public services ahead of their internal squabbles, warns GMB.

GMB union has today called on Chancellor Philip Hammond to draw a line under austerity and start investing in jobs ahead of his Spring statement.

The demand comes as official figures published today reveal Britain’s jobless rate has risen to 4.4%. [1]

UK pay growth has been not enough to offset a squeeze on real terms pay. Real earnings are down year-on year because regular earnings have consistently lagged inflation since early 2017

Real wages have now been falling for 10 months in a row. [2]

GMB said Ministers needed to put protecting people's jobs ahead of their own ambitions.

Tim Roache, GMB General Secretary said:

"Today's unemployment figures have kicked out the last legs propping up this Government’s failed economic plan.

“Pay is still being squeezed, people are struggling to pay the bills and the Tories appear more concerned with their internal squabbles than sorting that out.

“Ministers need to put protecting people's jobs ahead of their own ambitions, and invest in our economy and our workforce.

“The Chancellor must use his Spring statement to draw a line under austerity and start investing in jobs, industry and our public services."

ENDS

Contact: GMB press office on 07958 156846 or at press.office@gmb.org.uk

Notes to Editors:             

[1] https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment/timeseries/mgsx/lms

[2] https://www.theguardian.com/business/live/2018/feb/21/markets-uk-unemployment-wages-interest-rates-mark-carney-bank-of-england-business-live?page=with:block-5a8d47c4e4b0f1b01cf54695#block-5a8d47c4e4b0f1b01cf54695

 

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