The value of wages in real terms has been falling consistently since 2010, the longest period for 50 years.
The decline, which means that the cost of living is outstripping salaries, was attributed to low growth in productivity, or the goods and services that are produced in relation to the workforce.
Different rates of inflation between what is produced and what is consumed have also had a damaging effect on pay, said the Office for National Statistics, which provided the figures. » | Telegraph reporter | Friday, January 31, 2014
My comment:
So much for the Thatcher Revolution! – © Mark
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