POLITICS

UK Real Wages In Longest Fall Since Records Began In 1964 (GRAPH)

04/02/2014 14:54 GMT | Updated 04/02/2014 15:59 GMT

Britons' take-home pay has been in its longest sustained fall since records began in 1964, official figures say.

This startling graph from the Office for National Statistics shows the hit taken to workers' wages after the 2007 banking crash as wages fell by 2.2% since 2010.

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"Nominal wage growth below the rate of price inflation has resulted in real wages falling for the longest sustained period since at least 1964," the ONS report reads.

This comes alongside other ONS figures showing that real wages fell by the biggest decline out of all the G7 nations.

In their analysis, the ONS says that falling working hours, falling productivity, increases in non-wage costs and changes in the workforce composition have all been "relevant factors" to the fall in Brits' take-home pay.

Labour's shadow chief secretary Chris Leslie said: “The Tories are so out of touch they deny there’s a cost-of-living crisis. But these figures show the biggest fall in real wages since records began 50 years ago."

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