The falling value of average earning in the Bath area
The real value of average earnings in the Bath area has fallen by more than nine per cent in the last four years, according to union chiefs.
The GMB union says the rise in the B&NES average wage from £25,034 in April 2008 to £26,411 last November masks a 9.3 per cent real terms fall, once inflation has been taken into account.
That fall is lower than the one for the South West as a whole, of 11.7 per cent.
The percentage fall in Wiltshire was the second highest in the region, at 17.7 per cent, while the national fall was said by the union to be 12.8 per cent.
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John Phillips, the GMB’s regional secretary, said “These figures showing a drop of 11.7 per cent in the real value of earnings in the region explain why we are on our way to a triple dip recession.
“Consumer spending is the single biggest component of demand in the economy and with the real value of wages from employment falling there is no mystery as to why the economy is in a downward spiral. The replacing of full time permanent jobs with part time and temporary lower paid jobs is part of this.
“A living wage and pay rises to help hard pressed families as bills go through the roof are needed to boost the economy and stop the downward spiral.”