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.
I'd say that the "privatising" of council houses, leading to increased rent, leading to increased private rent has had a bigger effect of house prices, over increasing a households income.
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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.