UK's dire productivity growth costing workers £5,000 in lost earnings

Falling productivity and Brexit uncertainty to blame for wage stagnation, says ONS

Britain's dismal track record at increasing labour productivity following the financial crisis a decade ago has cost workers as much as 5,000 in missing income, according to official estimates.

The Office for National Statistics said the failure to maintain productivity growth - a key measure of economic output per hour of work - was one of the main reasons for a lost decade of pay growth for British workers. When companies are able to do more with less, they can increase salaries.

Related: UK productivity grows by just 0.5% in 2018 amid Brexit uncertainty