Oh dear. Somebody at The Independent really should check their data and graphs before publishing a news story.
According to the text, average UK wages have grown – if only by 0.1 per cent.
According to the graph, courtesy of Korn Ferry, wages have in fact fallen by 0.1 per cent.
So the situation is worse than The Independent has put it.
It’s interesting to note that French wages have risen the fastest among the major European economies – under a Socialist government.
Perhaps the UK would fare better if we had a Socialist government, too.
The growth of average UK wages has been next to zero since the global financial crisis, new data published today shows.
Inflation-adjusted average salaries are up only 0.1 per cent since September 2008, according to data from the global recruitment firm Korn Ferry, which underlines the feebleness of the UK’s recovery from the Great Recession.
The UK’s wages performance is worse even than Italy, whose overall GDP is still 7 per cent lower than it was in 2008 when the US investment bank Lehman Brothers collapsed, setting off the international financial panic.
Wages in Italy have gone up 2.4 per cent during the past eight years.
In Germany wages have risen 5 per cent since 2008 according to the data.
But the strongest growth is in France, where wages are up 5.2 per cent.
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