New analysis from Mansfield Labour, based on the latest Labour Market Statistics, shows that real wages have fallen a staggering £988 in Mansfield over the last 12 months.
Across the country, the real value of wages has fallen by 4.1% – which is the steepest fall since records began over 20 years ago.
Mansfield Labour’s Paul Henshaw said,
“Mansfield is taking an absolute hammering from the cost of living crisis, yet the Conservative Government seem to have taken the summer off. Real wages in Mansfield have fallen by a staggering £988. Residents’ hard-earned money is being swept away by the steepest fall since records began, and the worst is yet to come. Energy bills are going up, prices in the shops are soaring, and mortgages are heading in the wrong direction too.
“While the Conservatives continue to fight amongst themselves, Labour has a plan to tackle the cost of living crisis. Keir Starmer would freeze the energy price cap, cut VAT on energy and insulate homes to bring down household bills, support small businesses with a cut to business rates, and ensure that we buy, make and sell more in Britain.
“Families in Mansfield need real help now. Labour has put forward a serious plan that would make a real difference – the Conservatives need to stop obsessing about themselves and start acting for the rest of us.”
Notes to Editors:
Real wages have fallen by 4.1% in the last year, which is the steepest fall since records began in 2001:
Average wages by local authority can be found here.
In Mansfield the average worker saw real wages (excluding bonuses) fall by £988 [link to data]