Wages 3% below a decade ago

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Wages 3% below a decade ago

By Adam Cadle

12/09/2018

The impact of the financial crisis has left people's wages 3% below what they were a decade ago, new research has revealed.

The analysis carried out for the BBC by the Institute for Fiscal Studies (IFS) showed that on average people's real annual wages are £800 lower.

People who are aged between 30 and 39 now are earning £2,100 a year less than people of the same age group in 2008 - a drop of 7.2%

For those in their 20s, the decline is 5%, compared with the drop for the over-60s in work of 0.7%, or £130.

At the time of the financial crisis in 2008, the average wage was £24,100. In 2017, it was £23,300.

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