Jump to content



Photo

UK wages drop among worst in Europe

european union economy gmb union profit margins

  • Please log in to reply
10 replies to this topic

#1 Hum

Hum

    totally wAcKed

  • 61,796 posts
  • Joined: 05-October 03
  • Location: Odder Space
  • OS: Windows XP, 7

Posted 11 August 2013 - 16:46

Wages in the UK have seen one of the largest falls in the European Union during the economic downturn, according to official figures.

Figures from the House of Commons library show average hourly wages have fallen 5.5% since mid-2010, adjusted for inflation, which is the fourth-worst decline in the 27-nation bloc.

By contrast, German hourly wages rose by 2.7% over the same period.

Across the European Union as a whole, average wages fell 0.7%.

Only Greek, Portuguese and Dutch workers have had a steeper decline in hourly wages, the figures showed.

Other countries that have suffered during the eurozone debt crisis also fared better than the UK. Spain had a 3.3% drop over the same period and salaries in Cyprus fell by 3%.

French workers saw a 0.4% increase, while the 18 countries in the eurozone saw a 0.1% drop during that period.

 

"The economy is on the mend, but we've still got a long way to go as we move from rescue to recovery and we appreciate that times are still tough for families," a Treasury spokesperson said.

 

The GMB union said the government was "directly responsible" for the fall in wages.

 

"Employers paying low wages get taxpayer subsidies in the form of tax credits to assemble a workforce for them to make decent profit margins," it said.

more




#2 Draconian Guppy

Draconian Guppy

    LippyZillaD Council

  • 13,815 posts
  • Joined: 22-August 04
  • Location: Neowin

Posted 11 August 2013 - 16:46

first world problems!

 

Minimum wage in Honduras, Central America, is   $290  and people are lucky to get that :/



#3 FlintyV

FlintyV

    Neowinian Senior

  • 2,377 posts
  • Joined: 14-December 06
  • Location: Great Britain

Posted 11 August 2013 - 17:33

first world problems!

 

Minimum wage in Honduras, Central America, is   $290  and people are lucky to get that :/

 

But what's the cost of living there? 



#4 MikeChipshop

MikeChipshop

    Miniman

  • 6,524 posts
  • Joined: 02-October 06
  • OS: Win 8, Win 7, Vista, OSX, iOS, Android, WP8 and various Linux distro's
  • Phone: HTC 8X

Posted 11 August 2013 - 17:51

first world problems!

 

Minimum wage in Honduras, Central America, is   $290  and people are lucky to get that :/

 

Apples and Oranges mate, just saying.

 

Last i'd heard, Spain was the lowest and that was on Question Time last week (i wasn't watching it for fun, i just couldn't reach the remote), so the UK must be a new thing.



#5 DrakeN2k

DrakeN2k

    Neowinian

  • 1,126 posts
  • Joined: 04-December 10

Posted 11 August 2013 - 18:08

Hence our unemployment rate did not go up as much as such as Spain.



#6 Draconian Guppy

Draconian Guppy

    LippyZillaD Council

  • 13,815 posts
  • Joined: 22-August 04
  • Location: Neowin

Posted 11 August 2013 - 18:12

Apples and Oranges mate, just saying.

 

Last i'd heard, Spain was the lowest and that was on Question Time last week (i wasn't watching it for fun, i just couldn't reach the remote), so the UK must be a new thing.

True... 

 

If i wanted to argue i'd say "how is  it now oranges and oranges" aren't we the same planet :shifty: :p



#7 MikeChipshop

MikeChipshop

    Miniman

  • 6,524 posts
  • Joined: 02-October 06
  • OS: Win 8, Win 7, Vista, OSX, iOS, Android, WP8 and various Linux distro's
  • Phone: HTC 8X

Posted 11 August 2013 - 18:13

True... 

 

If i wanted to argue i'd say "how is  it now oranges and oranges" aren't we the same planet :shifty: :p

 

 

Oh you! **shakes fist**

 

That's a whole new discussion to be had!



#8 Growled

Growled

    Neowinian Senior

  • 41,508 posts
  • Joined: 17-December 08
  • Location: USA

Posted 13 August 2013 - 15:04

So are employers cutting wages or starting new hires on at lower rates?



#9 PhilTheThrill

PhilTheThrill

    Neowinian Senior

  • 3,861 posts
  • Joined: 28-November 03
  • Location: Canada
  • OS: Win 8.1
  • Phone: WP8

Posted 13 August 2013 - 15:46

So are employers cutting wages or starting new hires on at lower rates?

Well a lot of jobs being "created" are minimum wage part-time crap. Being minimum wage means they can't be started any lower.

 

Inflation in the UK is about 3% but a lot of people have had zero increase in wages in the past few years. This likely accounts for the real "drop". Wages are losing ground compared to costs.



#10 +DonC

DonC

    Neowinian

  • 987 posts
  • Joined: 16-August 07
  • Location: England

Posted 13 August 2013 - 16:04

Inflation in the UK is about 3% but a lot of people have had zero increase in wages in the past few years. This likely accounts for the real "drop". Wages are losing ground compared to costs.

Zero increase in wages is the cause as far as I can see.



#11 Growled

Growled

    Neowinian Senior

  • 41,508 posts
  • Joined: 17-December 08
  • Location: USA

Posted 13 August 2013 - 16:08

I haven't had a raise in 5 years so I sympathize with you all. 





Click here to login or here to register to remove this ad, it's free!