Tag Archives: wages

Office for National Statistics: Real wages have fallen by 2.7%

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The Office for National Statistics
has reported that “total and regular pay in the UK fell 2.7% when adjusted for inflation in the three months from August to October”.

Responding to this morning’s news, Liberal Democrat Treasury spokesperson Sarah Olney said:

This is just the tip of the iceberg with families facing a nightmarish interest rate rise in just 48 hours time.

Posted in News | Also tagged , and | 6 Comments

Opinion: Patience, not paranoia is needed if the UK is to solve the productivity puzzle

Workers bankers london bridge - some rights reserved by zoonabarEconomist’ brows furrow when they note that midst the generally positive economic data emerging in the UK and the US, wage growth continues to be absent.

On the surface the answer is simple –  the participation rate in both economies has fallen. For some, particularly those anxious to play Cassandra to the next crisis, this is a sign that economic growth is a mirage.

In the UK context, wild and dangerous theories are granted fertile ground by some determined that coalition economic policy can’t possibly have achieved growth; suggestions that benefit sanctions are forcing the number claiming jobseekers down, but not wages up, has much traction, but scandalously little merit.

Posted in Op-eds | Also tagged | 10 Comments
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Recent Comments

  • David Evans
    Jeff, If I remember the good old days correctly, EU citizens didn't need visas to come and work in the UK, so the stats you choose to present are very slante...
  • Jeff
    Roland 29th Mar '23 - 3:37pm: Brexit has effectively made the UK unattractive to foreign workers (with the level of skills we require)… In t...
  • Jeff
    Roland 29th Mar '23 - 3:37pm: The shortage of GPs was predicted some years back and has the same root causes as the shortage of HGV drivers and other...
  • Roland
    The fundamental flaw in the OfSTED inspection framework that this tragic case exposed was the 2012 legal exemption from future inspections (unless specific conc...
  • Roland
    @Michael BG re. claw back and taper Firstly, with UBI/GBI we need to get away from the current benefits culture where benefits are given out and then if people...