Green shoots confined to stock market and top bosses’ pay, says TUC

Commenting on the latest labour market statistics on Wednesday, TUC General Secretary Frances O’Grady said:

‘Today’s figures show that economic green shoots are confined to the stock market and top bosses’ pay.

‘The record number of people in employment is beside the point. The likelihood of being in work is what matters most to people – and those chances have fallen in the last three months.

‘Decent pay rises seem confined to top bosses, whose pay is now rising ten times faster than ordinary workers.

‘We need far stronger economic growth to boost our jobs market and for top bosses to stop hogging limited business gains for themselves.’

Earlier this week the TUC launched its new pay campaign – Britain Needs A Pay Rise – with new research showing that the UK’s total annual pay packet had shrunk by £52bn last year, compared to before the recession, as a result of reduced hours, real wage cuts and changes in the type of jobs people are doing.