Commenting on the latest statistics on national well-being published today (Tuesday) by the Office for National Statistics, Midlands TUC Regional Secretary Rob Johnston said:
"An over-reliance on the housing bubble and personal debt exaggerated income growth in the run up to the recession. Now families have been hit by the biggest squeeze in their living standards in nearly a century.
"That's why high quality jobs and a fairer distribution of decent wages must be at the heart of our economic recovery plan.
"A return to business as usual, where those at the top grab an ever larger slice of a dwindling earnings pie, will simply create another huge bust."