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: 2) by Nuke on Thursday July 28 2016, @09:50PM
So why aren't we seeing similar wage decreases in Germany, France, Italy and other countries who are accepting EU migrants?
It will come to them too. The UK had a head start with immigration because of its Commonwealth. Mass immigration to the UK started back in the 1950's with blacks from the West Indies, then an up-kick in the 1970's when some African Commonwealth nations expelled their Indian populations.
As long as there is "free" flow of migration, income and wages will tend to a lowest common denominator (or possibly just an average) across the countries involved at both ends of the movements. For example, vast sums of money (and materials like stolen cables - a big issue here [lancashiretelegraph.co.uk]) are sent by UK immigrants to poor relations back home. Jeez, I had a Brazillian GF, with a degree but who only worked for peanuts as a cleaner and even she sent money back to her mother. She could hardly afford it, but did not want to dissillusion her mother by admitting that the streets of London were not paved with gold.
(Score: 2) by Nuke on Thursday July 28 2016, @10:01PM
wages will tend to a lowest common denominator
Sorry, I was using that term as a politician would - ie loosely! That would actually be very good indeed! Delete the words "common denominator".