The government has been slammed for a lack of action as workers face the biggest drop in wages since 2013. Unions have hit out as latest figures show that wages have fallen by 1.2% between January and March.
The Mirror reports that soaring inflation means real-terms pay is not keeping up and is leaving workers down by £68 a month when compared to this time last year, and £131 a month in the public sector.
Assessments predict that adds up to whopping £816 loss for private sector workers if the situation continues, or £1,572 for state employees.
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Inflation has been rising to abnormally high levels and is expected to hit 9% this week, leaving many households seriously struggling with a lack of income.
TUC general secretary Frances O’Grady said: "Working families deserve financial security. But millions are at breaking point as real wages plummet and bills soar. The government is missing in action at the worst possible time.
“We urgently need a windfall tax on oil and gas companies to help fund energy grants for struggling households. And we need a proper boost to Universal Credit and the minimum wage to get money back into people’s pockets, and to inject much-needed demand into our economy.”
Victor Trokoudes, chief executive of savings firm Plum, said: "While some may be receiving a boost to their pay, it still doesn't go far enough to keep pace with inflation.
"Interestingly, private sector growth is largely down to bonuses which is not something the average person can safely rely on in the future, if their finances are to keep up with growing inflation."
Meanwhile, unemployment fell to 3.7%, or 1.2million workers, which is the lowest since 1974.
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