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Thread: UK workers have lost 9,200 a year in wages since 2008

  1. #1

    UK workers have lost 9,200 a year in wages since 2008

    But avocado with toast and entitled millenials are the issue 🙄.

    https://uk.finance.yahoo.com/news/uk...230156135.html

  2. #2

    Re: UK workers have lost 9,200 a year in wages since 2008

    As the cost of imports increase, wealth will leave the UK. Perhaps this long term decline is a transfer in wealth from the richer developed nations to the developing nations. Perhaps this is something we get used to as the poorer nations' standards of living catch up with our own.

    Its not going to account for everything, but I'd hazard a guess that it certainly forms part of it.

  3. #3

    Re: UK workers have lost 9,200 a year in wages since 2008

    Have you sourced how other countries have performed over the same period >??

  4. #4

  5. #5

    Re: UK workers have lost 9,200 a year in wages since 2008

    Quote Originally Posted by life on mars View Post
    Have you sourced how other countries have performed over the same period >??
    I just looked.

    From 2008 to 2022..

    French wages went from around €28,740 to €38,196. An increase of 33%

    German wages went from around €37,200 to €19,956. An increase of 34%

    Euro area went from around €18,600 to €23,556. An increase of 26%

    UK wages went from around 22,100 to 31,408. An increase of 42%

    In the period from 2000 to 2008...

    French wages went from around €23,220 to €28,740 An increase of 24%

    German wages went from around €30,600 to €37,200 An increase of 22%

    Euro area went from around €15,000 to €18,600. An increase of 24%

    UK wages went from around 15,600 to 22,100 . An increase of 42%

    I say 'around' as some of it is just based on bar charts. Nonetheless, I would have to be very wrong, to suggest that the UK has suffered worse than others, or indeed that any of the places analysed did worse for wage growth than in the period before the financial crash - which I am surprised at.

    It goes without saying that other factors such as house prices, tax changes, inflation etc are at play here, but it seems unlikely that UK workers would now be receiving 9000 odd more a year than otherwise might have been. That would mean a rapid increase in wages from the period before and also against what actually did happen in France, Germany and the Eurozone as a whole.

    All the data is here:

    https://tradingeconomics.com/france/wages
    https://tradingeconomics.com/germany/wages
    https://tradingeconomics.com/united-kingdom/wages
    https://tradingeconomics.com/euro-area/wages

  6. #6

    Re: UK workers have lost 9,200 a year in wages since 2008

    Quote Originally Posted by JamesWales View Post
    I just looked.

    From 2008 to 2022..

    French wages went from around €28,740 to €38,196. An increase of 33%

    German wages went from around €37,200 to €19,956. An increase of 34%

    Euro area went from around €18,600 to €23,556. An increase of 26%

    UK wages went from around 22,100 to 31,408. An increase of 42%

    In the period from 2000 to 2008...

    French wages went from around €23,220 to €28,740 An increase of 24%

    German wages went from around €30,600 to €37,200 An increase of 22%

    Euro area went from around €15,000 to €18,600. An increase of 24%

    UK wages went from around 15,600 to 22,100 . An increase of 42%

    I say 'around' as some of it is just based on bar charts. Nonetheless, I would have to be very wrong, to suggest that the UK has suffered worse than others, or indeed that any of the places analysed did worse for wage growth than in the period before the financial crash - which I am surprised at.

    It goes without saying that other factors such as house prices, tax changes, inflation etc are at play here, but it seems unlikely that UK workers would now be receiving 9000 odd more a year than otherwise might have been. That would mean a rapid increase in wages from the period before and also against what actually did happen in France, Germany and the Eurozone as a whole.

    All the data is here:

    https://tradingeconomics.com/france/wages
    https://tradingeconomics.com/germany/wages
    https://tradingeconomics.com/united-kingdom/wages
    https://tradingeconomics.com/euro-area/wages

    https://www.bloomberg.com/news/artic...e-growth-slows

  7. #7

    Re: UK workers have lost 9,200 a year in wages since 2008

    You are looking at a different thing there. Thats wages v inflation. We've discussed that elsewhere (the gap between the two is also significantly wider in most european countries at the moment.)

    Where you and I are completely aligned is on house prices. Up 13% in a year. I own my property but I don't want rises like that

    https://www.theguardian.com/business...e-for-18-years

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