13.8% Fall In Earnings Value During Recession

6 Jan 2014

The drop in the real value of average earnings of all employees in employment between April 2008 and November 2013 in the UK has been 13.8% a new GMB study of official earnings data shows.

In April 2008 the mean gross annual earnings for all employees in employment in the UK according to the Annual Survey of Hours and Earnings (ASHE) was £26,137. The ASHE figure for the mean gross annual earnings for all employees in employment in the UK for April 2013 was £27,174. This is an increase of £1,037 or just 4%. Between April 2008 and November 2013 inflation has been 17.8%. This means the drop in real value of earnings between April 2008 and November 2013 has been 13.8% for the UK.

The drop in the real value of average earnings between April 2008 and November 2013 for all employees in employment resident in London has been 20.4% the largest drop of all 12 regions in the UK. Next is Yorkshire and The Humber with a drop of 15.4 %, followed by South East and the East Midlands 14.4%, East of England 13.8%, South West 13.7%, North West 13.4%, Wales 12.5%, Northern Ireland 12%, West Midlands 10.5%, Scotland 9.9% and North East 8.6%.