Full-time workers’ wages fall for first time since 2014

Weekly earnings are 4.7% lower than in 2008 in real terms said the ONS
Weekly earnings are 4.7% lower than in 2008 in real terms said the ONS

Full-time workers’ weekly earnings have fallen in real terms for the first time since 2014, new figures show.

Median weekly earnings are £550 a week, down by 0.4% on last year when adjusted for inflation.

The figure is 2.2% more than a year ago, reported the Office for National Statistics.

The gender pay gap based on median hourly earnings for full-time employees has fallen to 9.1%, from 9.4% in 2016, the lowest since the survey began in 1997.

Weekly earnings are 4.7% lower than in 2008 in real terms, the ONS reported.

Weekly pay for part-time workers increased by 2.9% in the past year to £182. The gender pay gap for full and part-time workers increased by 0.2% to 18.4%.

ONS statistician Roger Smith said the 2.2% increase in median earnings was the joint highest since the economic downturn in 2008, in cash terms.

“However, higher inflation meant real earnings were down overall on the year for the first time since 2014.

“This wasn’t the case for everyone though. The lowest paid 10% of workers and those in some regions like the East Midlands still saw real increases, while other areas saw decreases.”

TUC general secretary Frances O’Grady said: “The full-time gender pay gap has inched a bit smaller but there is still a chasm between men and women’s earnings.

“At this rate it’ll take decades for women to get paid the same as men.

“The Government needs to crank up the pressure on employers. Companies shouldn’t just be made to publish their gender pay gaps.

“They should be forced to explain how they’ll close them and those bosses who flout the law should be fined.”