Home
Subjects
Shop Courses Live Jobs board
Account Shopping cart Logout

Economics

Economics
Explore
Blog Reference library Collections Shop

In the News

The Cumulative Loss of Real Wages since 2008

Geoff Riley

23rd December 2018

Share:

Real wages are nominal wages adjusted for the effects of inflation. A new survey form the Trade Union Congress (TUC) has estimated that the average worker in the UK has (cumulatively) lost over £11,000 in real wages since the start of the last recession. There are big regional variations in the extent of the real pay loss which tracks the annual gas between growth of nominal pay and the retail prices index.

As we reach the end of 2018, real wages are now starting to recover some ground (pay rises are out-stripping inflation) but clearly there is a long way to go before the losses of real pay since the last recession are recovered.

The Cumulative Loss of Real Wages since 2008
Share:

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

Boston House,
214 High Street,
Boston Spa,
West Yorkshire,
LS23 6AD

Tel: +44 0844 800 0085

© 2021 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.

Back to top