British workers worse off than a decade ago
British workers have experienced a lost decade of earnings growth thanks to the global financial crisis, with average real wages no higher in 2012 than they were in 2003, according to the Office for National Statistics.
Median real wages peaked at £12.25 per hour in 2009, but by last year they had slumped 3 per cent to £11.21 per hour, roughly the level of a decade ago. The damage was done by high levels of inflation and a rolling series of meagre company pay settlements since the financial meltdown, the ONS said.
Private-sector workers in London are paid more than the national average but they experienced a more severe squeeze over the past three years than those in the rest of the country, leaving them worse off than a decade earlier. The real average earnings of male full-time employees in the capital was £16.14 per hour in 2002, but in 2012 that had fallen to just £15.54, a 4 per cent decline.
The earnings of self-employed workers have also experienced a slump in the past decade. The average weekly earnings of the self-employed, now 14 per cent of the workforce, have fallen from £275 in 2008 to £210 in 2010.
- 1 The man who filmed the Freddie Gray video has been arrested at gunpoint
- 3 Top Gear: Jodie Kidd, Philip Glenister and Guy Martin 'in advanced talks' to join show
- 4 Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
- 5 How to gain confidence and maximise your sexual potential
Boston Marathon runner's search for mystery man she kissed ends with letter from his wife
Frankie Boyle on Scottish independence: 'In the Interests of Unity, F**k Off'
Italian police 'reveal' what Jesus looked like as a young boy
Mysterious 'X-Files' sounds heard miles above the Earth
Met Gala 2015: Beyoncé manages to out-skimp Rihanna, Miley and Kim Kardashian combined with near-naked ensemble
In defence of liberal democracy
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
Andy McSmith's Sketch: Feisty audience is the real star of an enlightening show
iJobs Money & Business
£20000 - £25000 per annum + Uncapped commission: SThree: Can you speak German,...
£25000 - £30000 per annum + benefits: Ashdown Group: An exciting opportunity f...
£215 per day: Ashdown Group: Junior Project Manager (website, web application ...
£40-50K: Guru Careers: We are seeking an experienced Software Engineer / Softw...