Sunday, July 02, 2017

The Squeeze Continues

Typical hourly pay for the under-40s is at least 11% lower than before the 2008 financial crisis.

Real hourly pay for 22 to 39-year-olds was down by 11% on its peak, compared with 5% for workers in their 50s and 2% for those in their 60s, it added.
"The pay squeeze made an unwelcome return at the start of 2017 and looks set to stay with us for the rest of the year at least," said Stephen Clarke, economic analyst at the Resolution Foundation"What's most worrying is that people's pay packets still haven't recovered from the last squeeze when this latest bout of falling pay hit."

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