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Workers in the UK have suffered the biggest fall in wages among the world's richest countries since the financial crisis, research has suggested.
Between 2007 and 2015 wages in the UK fell by 10.4%, a drop equalled only by Greece, the analysis by the TUC [Trades Union Congress] found.
Women's pay in particular needs to be boosted, the union body said. Women earn on average 19.2% less than men, according to the latest official data.
The Treasury said the TUC's analysis did not fully reflect living standards.
The UK is the joint biggest faller on pay in 29 countries of the Organisation for Economic Cooperation and Development (OECD) - a forum for wealthy countries who work together to promote financial growth and social wellbeing.
The UK, Greece and Portugal were the only three OECD countries that saw real wages fall, according to the research complied by the TUC.
Source: BBC News
(Score: 3, Insightful) by bootsy on Thursday July 28 2016, @02:13PM
You may well be seeing those depending on the rate of inflation verses the increase in wages. Your salary increase has to beat inflation ( the real rate not the fixed government ones, see CPI vs RPI) for you to actually be earning more.
The UK has some differences which increase the likelihood of foreign workers arriving.
1) a language most people think they can speak and no US style 101 test as a pre-requiste for working
2) the commonwealth - it isn't just Euro workers who have links we the UK. India has provided many workers over the years and it's population eclipses that of Europe.
3) No laws on who can own property. You don't have to be a citizen. Only the UK and Eire have this.
4) A relatively high minimum wage topped up with in work benefits and other benefits that can be paid to those outside of the country ( e.g. child benefit ) allowing wage arbitrage if you come from a poorer country.
5) Limited weather extremes. You can survive in a tent all year in the UK especially if you are used to very cold weather. I have seen Eastern European workers do this to reduce costs. After all housing is by far the biggest expense in modern Britain.
6) A left wing Labour party that during the later 90s and early 2000s basically didn't have a policy on immigration ( no really it wasn't a deliberate strategy they just didn't expect it ) and so they weren't protecting the low paid and low skilled jobs of the working classes.
7) A split in the left wing workers Unions between those who wanted to protect wages and those who feared that by doing so it would make them seem like right wing xenophobes.
(Score: 2) by Nesh on Thursday July 28 2016, @03:18PM
3) No laws on who can own property. You don't have to be a citizen. Only the UK and Eire have this.
This is patently wrong. I know for a fact that in Sweden, the Netherlands, Belgium, France, Spain there are no ownership restrictions for private housing.
I suspect that is the case for most if not all of the other EU countries as well.
Which EU countries restrict property ownership according to you?
(Score: 2) by bootsy on Thursday July 28 2016, @04:27PM
Italy and Spain have restrictions on the acquisition of land by foreigners in border areas. In Spain, EU
national are exempted from these restrictions, although in Italy, ownership and use of land in border
areas by EU nationals and other foreigners must be authorised by the local Prefect of Police.
Greece
also has special restrictions on the acquisition of land in border areas. EU nationals are subject to the
same restrictions and must obtain the same authorisation as Greek citizens. Other foreigners are
subject to a different regime.
There are often restrictions at local level as well. In the UK you don't have to any residence or connection with the country to own land or property either commerically or residentially.
Owning property in France is an interesting one as you are tied by French inheritance laws unless you come up with some clever legal paper work. Although you own the property you children inherit under French law and again there are local restrictions that can be put in place that convenient get around state level EU rules.
(Score: 0) by Anonymous Coward on Thursday July 28 2016, @08:19PM
Aaaannd, since UK is an island, has no border areas where restrict the acquisition of land by foreigners, ergo no law needed. Well played.