Interesting Fact - Wages
The latest government figures, from the Office for National Statistics, show that on average British wage-earners have taken a £5,000 pay cut over the last five years.
(Wages and salaries for the middle fifth of non-retired households fell from £33,100 in 2007-08 to £28,300 in 2011-12. Over the same period original income, which is the income households get from employment and investments, fell from £37,900 to £32,600, while cash benefits rose from £3,100 to £4,600.
We can't blame the recession either, as the figures show that the decline predates the big slump.
We can't blame the recession either, as the figures show that the decline predates the big slump.
How does that song go? The rich get richer and the poor get poorer. )
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