The decline in real incomes continues

New labour market data for the UK were released last week. The good news was that unemployment has fallen to 6%. The bad news is that people in work are, on average, still seeing their incomes overtaken by inflation. The chart below, from the Office for National Statistics, shows annual growth total pay, regular pay (ie excluding bonuses), and inflation since 2009 up to August this year (the inflation data is monthly, the wage data three month on three month).

ONS wages and prices to Aug 14


Stephen Beer, 19/10/2014

 Recent Articles 
A film for our time?
Budget 2017: missed opportunities
The false sense of security around executive pay
The changing nature of politics - Labour Conference
Interviewed on TWR Radio
 Labour News