Real wages have been falling for longest period for at least 50 years, ONS says
14 replies, posted
[quote]
Real wages have been falling by 2.2% a year in the longest sustained period of falling real wages in the UK on record
Real wages have been falling consistently since 2010, the longest period for 50 years, according to the Office for National Statistics, adding that low productivity growth seems to be pushing wages down.
Real wage growth averaged 2.9% in the 1970s and 1980s, 1.5% in the 1990s, 1.2% in 2000s, but has fallen to minus 2.2% since the first quarter of 2010, the ONS figures showed.
TUC general secretary Frances O'Grady said: "Over the last four years British workers have suffered an unprecedented real wage squeeze.
"Worryingly, average pay rises have been getter weaker in every decade since the 1980s, despite increases in productivity, growth and profits. Unless things change, the 2010s could be the first ever decade of falling wages."
[/quote]
[url]http://www.theguardian.com/business/2014/jan/31/real-wages-falling-longest-period-ons-record[/url]
Is anybody really surprised?
Evil rich cunts driving their countries in to the ground in comfort and style.
Sun rise, sun set.
[I]"The free market doesn't need regulations, i'll handle itself"
"Don't worry, it'll trickle down"
"They're not greedy, they're job creators"[/I]
Bunch of rich bullshit spewing sociopaths borderlining into full-blown psychopath territory.
When you fall as far as we did in 2008-9, what do you expect?
[QUOTE=O Cheerios O;43737660][I]"The free market doesn't need regulations, i'll handle itself"
"Don't worry, it'll trickle down"
"They're not greedy, they're job creators"[/I]
Bunch of rich bullshit spewing sociopaths borderlining into full-blown psychopath territory.[/QUOTE]
that's what happens when everyone defending worker rights becomes essentially powerless.
yes but if u work hard u become a billionaire its easy according to mr. wonderful
Maybe when labour gets into power and economy growth continues as it is (we are recovering) then this trend will be reverse.
[QUOTE=sYnced;43739830]yes but if u work hard u become a billionaire its easy according to mr. wonderful[/QUOTE]
Government gives a guy an opportunity, he gets rich and than he works to destroy the government; essentially burning the bridge behind him.
That or he's born rich.
[QUOTE=O Cheerios O;43737660][I]"The free market doesn't need regulations, i'll handle itself"
"Don't worry, it'll trickle down"
"They're not greedy, they're job creators"[/I]
Bunch of rich bullshit spewing sociopaths borderlining into full-blown psychopath territory.[/QUOTE]
God, do you believe that when people say "free markets" it means that UK is a "free market"?
Jesus Christ, the richest economies of the world today are the most regulated. That goes for US and the European Countries.
Hey, look at the Chinese, at least, they are getting raising wages. Why it might happen....
[QUOTE=Cutthecrap;43741690]God, do you believe that when people say "free markets" it means that UK is a "free market"?
Jesus Christ, the richest economies of the world today are the most regulated. That goes for US and the European Countries.
Hey, look at the Chinese, at least, they are getting raising wages. Why it might happen....[/QUOTE]
Not the most regulated in history however, a good balance of freedom and regulation seems to work pretty well. Both extremes have quite terrible drawbacks
[QUOTE=thelurker1234;43741982]Not the most regulated in history however, a good balance of freedom and regulation seems to work pretty well. Both extremes have quite terrible drawbacks[/QUOTE]
The US financial sector as I have said in the Reich and Nazis thread, is the most regulated of the world. I don't if it had a previous instance were it was more regulated, I'll have to search it, but today you have to do/fill a crapton of papers, do a crapton of auditorias, give a crapton of reports, etc etc. Bigger companies don't have a problem with that I'm sure but I can't say the same for the smaller and medium ones.
Yeah, freedom and regulation works well for the nordic countries and even for the germans but finding THAT spot is very hard when you have a shitload of assholes who settle in for ideological postures not pragmatical ones like here in Argentina. So if you put a super ultra high minimum wage that might make them happy but who would hire or put up a company? The same goes for the reverse, no minimum wage at all might fuck things up. Hard.
[QUOTE=laserguided;43742133]Communism.[/QUOTE]
Mao what does that have to do with anything?
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