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From The Socialist newspaper, 24 August 2016

Pay still below pre-crisis levels

Hackney council workers striking for better pay on 10 July 2014, photo Paul Mattsson

Hackney council workers striking for better pay on 10 July 2014, photo Paul Mattsson   (Click to enlarge)

Becci Heagney

There has been a lost decade for wage growth. Workers will have realised this, many getting pay freezes while the cost of living keeps on climbing up.

Figures released by the Office for National Statistics show the income of working households is down 400 a year on pre-2008 levels. The average hourly wage for both graduates and non-graduates fell by 20% between 2008 and 2013.

The forecast doesn't show much improvement, either. While inflation is still at historically low levels, it has increased and will continue to increase over the coming months. This will eat into wages, meaning we will feel the squeeze even more.

The pound is weak so imports are costing more. This hike in costs for the companies is being passed on to consumers. Food prices will rise. Railway companies are chomping at the bit to increase fares.

Rise

We desperately need a pay rise! In response to the rise in inflation, the Trade Union Congress has called for an increase in government spending on infrastructure to help the economy. However, they have said nothing about their policy of a 10 an hour minimum wage.

Bosses are using the excuse of the Brexit vote and uncertainty in the market to keep wages down while prices rise. But we can't wait any longer!

We can't afford another lost decade. The rich have doubled their wealth while workers continue to suffer. We need to organise to fight for our share.

Capitalism and its representatives offer no way out - it's cuts and crisis forever. Recent successful strikes by low-paid workers show what is possible. We need this type of fightback across the board.

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In The Socialist 24 August 2016:


#KeepCorbyn

Kick out the Blairites

#KeepCorbyn: Answer right's attacks with firm socialist programme

Corbyn union nominations round-up and view from the workplace

#KeepCorbyn: huge support at rallies and among Labour rank and file


Socialist Party news and analysis

Black footballer's taser death: stop police racism now

Pay still below pre-crisis levels

Train fares to rise again - nationalise railways now!

500m on civil service redundancies in two years

Them & Us


International socialist news and analysis

Trump in trouble - political polarisation deepens

International news in brief


Socialist readers' comments

Readers respond to Trotskyist red scare smears by capitalist media

Would you call G4S for help over discrimination?

The Socialist inbox


Workplace news and analysis

Deliveroo strike action forces bosses to back down

Junior doctors set for further strike action

A day in the life of a call centre worker

Workplace news in brief


Save our NHS

Save our NHS!

The threat of private health insurance

Organise against secretive NHS cuts plans


Socialist Party reports and campaigns

Greenwich council tenants: We won't pay! We won't move!

Local estate agents back Butterfields tenants

Nottinghamshire Pride makes history

Immingham residents' housing battle


 

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