This report tackles one of the ‘facts of working life’ in the UK, namely the long-term trend for pay to rise faster than prices
The report tackles one of the ‘facts of working life’ in the UK, namely the long-term trend for pay to rise faster than prices. Since 2009, this trend has come to a halt. Depending on the measure of inflation used, average regular weekly earnings (excluding bonuses) are now between 8% and 10.4% lower in real terms than in January 2009. This has not happened before for at least half a century and quite probably much longer. A summary of the key findings is also included.
