United Kingdom - Real wages fall, while household debt sets to record highs - May 31, 2017

This year, household debt is set to be higher than ever before. TUC analysis finds that unsecured debt per household is set to reach £13,900 in 2017. In 2016, unsecured debt per household was already £13,200 – higher than at any other point since the financial crisis and only marginally below the peak of £13,300 in 2007. The expectations are that by 2020, it will exceed £15,000. Alongside the rise in debt and the use of credit, real wages are falling. Workers are still, on average, being paid £20 per week less than before the financial crisis a decade ago. The latest figures from the statistical office show that real wages recovered slightly between mid-2014 and early 2016, before stagnating and then beginning to fall again.

English: http://touchstoneblog.org.uk/2017/05/real-wages-fall-household-debt-record-highs/

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Willy De Backer wdebacker@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.euYou may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.

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