'£2.3bn lost to Welsh economy'

The TUC says the Welsh economy has lost £2.3bn since 2007 through job losses and shrinking pay packets.

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Shrinking wages 'hitting' living standards

Over the last five years, workers in Wales have taken a massive hit in their pay packets, while thousands more have had to reduce their hours or take lower paid work. Many people have lost their jobs altogether.

Taken together, our pay and jobs crises have shrunk Britain's total annual pay packet by more than £50bn, with workers in Wales losing £2.3 billion altogether. It's no wonder businesses are struggling when so much demand has been sucked out of the economy.

Shrinking wages are hitting people's living standards, holding back businesses and damaging our growth prospects.

– Martin Mansfield, Wales TUC General Secretary

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