Wednesday, 31 December 2014

Huge Drop -Wages

Wages in London has dropped by 23 per cent between 2008 and 2014 when adjusted for inflation, figures show.
Haringey comes fourth in a list of UK local authority areas ranked by pay decline with a 26.2 per cent drop, while Harrow follows closely with a 25.9 per cent drop.Wages in Barnet dropped by 20.3 per cent, while pay Enfield fell by 16.7 per cent.
Although the average wage in the UK has actually increased slightly, when inflation between 2008 and 2014 is taken into account it drops by 15.1 per cent across the UK.According to the Annual Survey of Hours and Earnings (ASHE), the mean gross annual income for employees in the UK was £26, 137 in 2008 and £27,271 in 2014. Despite this being an increase, as prices have risen by 19.5 per cent since 2008 employees have been less able to buy as much with their wage.In London, wages have dropped by 3.6 per cent from £37,799 to £36,387. Adjusted for inflation this is a 23.1 per cent drop.
The data, published by Office for National Statistics, was analysed and ranked by the GMB union. 

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