Labour market data shows that despite strong employment the growth in average earnings is half the rate of pre-crash eraCast your intellect back 10 years. It is early 2006 and everything seems to be going well. Unemployment is around 5%,the Bank of England prides itself on keeping inflation at or close to its 2% target, earnings are going up by 4% a year.
As we now know, or this was the equivalent of the Edwardian summer – the calm before the storm. Since the financial and economic crisis of 2007-09,things occupy never been the same again. Related: UK unemployment falls but wage growth weakens Continue reading...
Source: theguardian.com