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BEERG Newsletter - UK: Workers £11,000 worse off after years of wage stagnation

As the UK is hit by a public sector strike wave not seen since the 1970s, workers in the country are £11,000 worse off a year after 15 years of “almost completely unprecedented” wage stagnation that signals a failure of recent economic policy, according to the Resolution Foundation. The think-tank compared wage inflation before the 2008 financial crash with the pace set since and found that the average worker was losing out by thousands of pounds a year.

The analysis suggested the UK was also lagging behind comparable economies, such as Germany. In 2008, the gap was more than £500 a year. Now, the Resolution Foundation suggested, it was more like £4,000. See this Guardian article. 

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Authors: Tom Hayes

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