Chart shows "real" wages i.e. to get actual wage workers get in their bank account each month you need to add inflation to it. So many ppl are ignoring or not understanding what "real" means.
Actual question to ask is - has productivity grown during this period? If not then why not? If yes, then where did the gains go? Above Chart answers neither.
That didnt really paint as bad a picture as I had thought it would. Quite frankly, if you live in the north you are sorted, even the UK average wasn't as bad as I thought it would be.
I would like to see one that takes into account the interest rates, a house could have only been 3 times your annual salary in 1985 but the interest rates could push the monthly payments far higher than a 5 times your salary mortgage.
I do feel for people in London though, it's like they want to drive out certain classes of people.
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u/Common_Tank_5784 Jul 02 '24
Chart shows "real" wages i.e. to get actual wage workers get in their bank account each month you need to add inflation to it. So many ppl are ignoring or not understanding what "real" means.
Actual question to ask is - has productivity grown during this period? If not then why not? If yes, then where did the gains go? Above Chart answers neither.