Real Wages – back to the ’70s?
The chart below provides some context to this, it uses data from the Bank of England’s Three Centuries of Data spreadsheet to show inflation (in this case CPI), wage growth and real wage growth from 1855 to 2009.
We are now in our fourth year of falling real wages, something which hasn’t happened since the ’70s. The 1870s that is.
The last real wage squeeze of this duration seems to have been 1875-1878.
This is why the TUC’s latest campaign is entitled, Britain Needs a Pay Rise.
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Jul 10th 2013, 10:17 pm
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UK unemployment expected to fall as nascent recovery feeds through to jobs – newspapertimes
Jul 17th 2013, 6:14 am
[…] of 3.3%, according to official data on Tuesday, meaning real wages continue to fall. The TUC says workers have now suffered falling real wages for more than 40 months – the longest lasting squeeze since […]
UK unemployment expected to fall as nascent recovery feeds through to jobs | News Vault
Jul 17th 2013, 7:54 am
[…] of 3.3%, according to official data on Tuesday, meaning real wages continue to fall. The TUC says workers have now suffered falling real wages for more than 40 months – the longest lasting squeeze since […]