New Times,
New Thinking.

  1. Chart of the Day
18 January 2022

UK wages fall below 2008 level

Real earnings are now lower than on the eve of the financial crisis.

By Afiq Fitri

Weekly wages in the UK are now £3 lower than on the eve of the 2008 financial crisis, according to a Trade Union Congress (TUC) analysis of the latest employment figures published by the Office for National Statistics (ONS) today.

The TUC found that real weekly wages had fallen from £553 in 2008 to £550 in November last year, based on calculations using the current consumer price inflation rate. This comes as inflation is widely expected to increase from 5.1 per cent to 6 per cent in the spring, coupled with soaring energy bills this year.  

 

The finance and business services sector saw the largest growth in salaries at 6.8 per cent, while public sector wages increased by just 2.6 per cent.  

Select and enter your email address Your weekly guide to the best writing on ideas, politics, books and culture every Saturday. The best way to sign up for The Saturday Read is via saturdayread.substack.com The New Statesman's quick and essential guide to the news and politics of the day. The best way to sign up for Morning Call is via morningcall.substack.com
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
Visit our privacy Policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU

Content from our partners
The power of place in tackling climate change
Tackling the UK's biggest health challenges
"Heat or eat": how to help millions in fuel poverty – with British Gas Energy Trust

This article appears in the 26 Jan 2022 issue of the New Statesman, The Light that Failed