Insecure gig economy work has contributed to a “ lost decade ” in UK wage growth , according to the Bank of England ’s chief economist . In a speech to companies and trade unions , mark Haldane argued that many people in insecure and low - quality work had experienced poor increases in recent years . However , Haldane did add that wage inequality was starting to increase across the workforce . The economist stated that “ job insecurity reduces workers ’ pay power and weakens upward pressure on pay ” . The UK is currently on course to experience the largest wage squeeze since the end of the Napoleonic era .
Insecure gig economy work has contributed to a “lost decade” in UK wage growth, according to the Bank of England’s chief economist. In a speech to companies and trade unionists, Andy Haldane argued that many people in insecure and low-quality work had experienced poor increases in recent years. However, Haldane did add that wage growth was starting to increase across the UK. The economist stated that “job insecurity reduces workers’ pay power and weakens upward pressure on pay”. The UK is currently on course to experience the largest wage squeeze since the end of the Napoleonic wars.