In spite of a vigorous economic recovery in the country, real wages in the UK has decreased by 2.2 percent in average since 2010, according to the Office of National Statistics. This constant decline, unprecedented in 50 years, has revived the debate over buying power and caused unions and politicians to react, barely one year to the election.
Real wages in the UK has been constantly decreasing since 2010, a situation that hadn’t been seen since at least 1964, according on the Office of National Statistics (ONS). Real wages (meaning without inflation, used to calculated employees’ real wages) has decreased by 2.2 percent a year in average since 2010, when it had increased by 2.9 percent in the 70s and 80s, 1.5 percent in the 90s and 1.2 percent in the 2000s. According to this survey, the decrease in the number of hours worked,...
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