PPI Claim News - 4/10/2012
Bank charges: UK workers' wage dive 'will last until 2021'
While many British workers could be finding the squeeze on incomes is making it hard for them to pay off loan claims or deal with credit card charges, the Trades Union Congress (TUC) suggested that this state of affairs will continue for considerably longer than had been previously thought.
It will be another nine years before income levels reach those seen in 2009, the organisation claimed, pointing out that employees are therefore only one-quarter of the way through a 12-year drop in incomes.
By 2021, the average worker will have lost around £8,500 in real terms, it warned.
Higher-than-expected inflation and a tough economic climate mean a person on a median wage of £25,800 has lost approximately £1,600 since 2009.
The TUC is to host a protest against the coalition's austerity measures on October 20th and will call for the government to enact a new agenda that puts an economy that helps families and growth in the heart of its policy.
Brendan Barber, TUC general-secretary, said: "The dire state of the economy has pushed down wages."
Samantha is a former banking assistant and has over ten years experience in retail banking.
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