Paul Johnson, director of the Institute for Fiscal Studies, said: “We’ve had the biggest recession we’ve had in 100 years … It looks like in 2015 people will be no better off than they were in 2001.”
Matthew Whittaker, senior economist at the Resolution Foundation, said: “The much-delayed recovery in earnings is being delayed still further. Although average wages are forecast to outpace inflation for the first time in six years in 2014, there’s a lot of ground to make up. For typical workers, pre-recession pay levels are unlikely to return before the end of the decade.”
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