Monday, March 20, 2023

Stagnating Wages

 Fifteen years of wage stagnation has left British workers £11,000 worse off per year, ]  after 15 years of “almost completely unprecedented” wage stagnation.  The figures come from the Resolution Foundation think tank. 

The Resolution Foundation calculated that had wages continued to grow as they were before the financial crash of 2008, the average worker would make £11,000 more per year than they do now, taking rising prices into account.

It also found typical UK household incomes have fallen further behind those in Germany. In 2008, the gap was over £500 a year, now it is £4,000.

UK wages failing to keep up with costs - Resolution Foundation - BBC News

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