Open

Latest news

Explore insightful perspectives and expert advice on finance

Home |Latest news |Wage stagnation leaving workers £11,000 worse off per year, data finds

Latest news

Browse by category
Business News

Wage stagnation leaving workers £11,000 worse off per year, data finds

March 20 2023

Data published by think tank the Resolution Foundation has found that fifteen years of stagnating wages have left UK workers £11,000 worse off per year.

According to the data, typical UK household incomes have fallen considerably when compared to other European countries such as Germany. It revealed that the gap stood at £500 in 2008, compared to £4,000 now.

The Resolution Foundation stated that rising costs and stagnating wages mean that millions of workers have effectively had a pay cut.

Responding to the findings, a Treasury spokesperson said that the government is increasing investment incentives and highlighted low unemployment figures as a sign that the UK is on the right track.

Torsten Bell, Chief Executive of the Resolution Foundation, said: 'Nobody who's alive and working in the British economy today has ever seen anything like this. This is definitely not what normal looks like.'

Here to help

Please complete the form below and our expert team will be in touch.

  • Contact details

    • *
    • *

  • What services are you interested in?

    • *

  • Message

    • *

  • Which location would you like to contact?

  • Communication

    • *Indicates a required fields.†At least one form of contact is required.

      By submitting this form, you agree that Attwoods can process your information in order to respond to your enquiry. For more information visit our Privacy Policy.

Bromsgrove
Bromsgrove

Attwoods is proudly based in the historic market town of Bromsgrove, Worcestershire

  • 182 Worcester Road
  • Bromsgrove
  • Worcestershire
  • B61 7AZ
Call us01527 874170
Learn more about BromsgroveGet in touch
Evesham
Evesham

Attwoods is proudly based in the picturesque town of Evesham, Worcestershire; nestled in the heart of the Vale of Evesham

  • 90-92 High Street
  • Evesham
  • Worcestershire
  • WR11 4EU
Call us01386 424388
Learn more about EveshamGet in touch
Pershore
Pershore

Attwoods is proudly based in the Georgian market town of Pershore, Worcestershire.

  • Perrott House
  • 17 Bridge Street
  • Pershore
  • Worcestershire
  • WR10 1AJ
Call us01386 554870
Learn more about PershoreGet in touch
  • Xero Logo
  • Gold Partner Logo
  • Sage
  • QuickBooks Platinum

The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.