Women’s pay will fall by nearly £40 a month this year
Women in the UK will see their pay cut by nearly £40 a month this year, adding to already severe pressure on the cost of living and the gender pay gap.
Women’s wages will fall in real terms by £38 in 2022, according to an analysis by the Trades Union Congress (TUC) on Friday, despite the weight of falling public sector wages due to the fact that they make up almost two-thirds of all public sector employees.
Women working in the public sector were already earning £90 a month less than a year ago, the TUC said, warning that with inflation set to rise further, women working in the public sector will see their wages still tighter this year.
A separate analysis by the union body also shows that many key workers still earn thousands of pounds less a year, in real terms, than they did in 2010.
Real wages for nurses have fallen by more than £2,700 a year, while local government social workers have fallen by more than £1,600 a year.
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The group renewed its calls for an emergency budget, insisting that Chancellor Rishi Sunak must return to parliament and help families through the coming months.
He urged the government to increase wages, pensions and Universal Credit (UC), and impose a windfall tax on oil and gas profits to fund energy subsidies.
On top of that, he asks ministers to ensure public sector pay keeps pace with the cost of living and restores a decade of lost income, while urging them to work with unions and employers to make raise wages across the economy.
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“Anyone who works to earn a living deserves to earn a decent living. Women are already suffering from a punitive gender pay gap and will now see their pay fall off a cliff this year,” said TUC General Secretary Frances O’Grady.
“The government cannot watch women across Britain plunge deep into the red. The chancellor must return to parliament with an emergency budget. The longer ministers wait to deal with this standard of living emergency, the greater the damage will be.
She added: “Our incredible key public sector workers have helped us through this pandemic. But their wages have fallen over the past year – and the worst is yet to come unless the government acts.
“The women who work in our schools, our hospitals and in our public services deserve a decent pay rise. After more than a decade of stalled wages, they cannot afford another year of pay cuts in real terms.
It comes as UK inflation soared to 7% in the year to March, a new 30-year high. That was above economists’ forecast for a 6.7% rise, and up from 6.2% in February.
Rising energy bills and fuel costs were largely responsible for the rise that shattered forecasts.
Meanwhile, Wage rewards in the UK remained stable in the first quarter of 2022according to new data from XpertHR.
The median base salary increase in the three months ending March 2022 was 3%, unchanged from the previous two rolling quarters.
Although wage increases are at the highest level since December 2008 – when the headline price was 3.6% – they now lag the retail price index (RPI) by six percentage points. which is 9%.
The gap between inflation, as expressed by RPI, and wage rewards is at an all-time high with the largest gap seen since XpertHR records began in April 1984.
Watch: Why do we still have a gender pay gap?