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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