British workers are facing the worst wage squeeze among leading economic nations, with pay set to drop by 6.2 per cent over the next two years in real terms.
The drop, predicted in analysis by the TUC, amounts to £1,750 and is the biggest fall in any G7 economy. Pay growth is forecast to bounce back faster in other countries.
It means that UK workers will suffer the longest and harshest pay squeeze in modern history. A previous analysis by the TUC indicated that workers lost nearly £20,000 in real earnings between 2008 and 2021 as a result of pay not keeping pace with inflation.
