Wage inequality rises across the UK

Top earners see wage rises of 117% over 25 years while lowest paid see increase of just 47%, according to the ONSThe gap between the highest and lowest earners in the UK has widened over the past 25 years, with the top 1% seeing a triple digit increase in real earnings between 1986 and 2011, […]
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Olympics effect expected to lift UK out of recession

Relief for George Osborne in official figures – but economists warn that the comeback will be short-livedGeorge Osborne will receive a boost this week from official figures confirming that the Olympics effect helped to bounce Britain out of recession in the third quarter of 2012.City analysts believe the economy expanded between July and September, after […]
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OBR admits poor forecasting record

Office for Budget Responsibility predicted economic growth six times stronger than the latest official figures suggestThe government’s independent fiscal watchdog admitted on Tuesday it had been caught unawares by the slowdown in the economy over the past two years, blaming higher than expected inflation and weak exports for getting forecasts wrong.Robert Chote, director of the […]
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Workers are £1,600 a year poorer because of state of economy, study finds

TUC says real-terms wage losses will increase as UK continues through 12-year ‘dive’Workers are on average £1,600 worse off each year than three years ago because the “dire” state of the economy has pushed down wages, according to a new study.The TUC said losses would continue to mount in the coming years, predicting that real-terms […]
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Minimum wage for over-21s up to £6.19

Pay for workers aged between 18 and 20 frozen at £4.98 an hour, which TUC calls a particular blow to younger peopleThe minimum wage for UK workers aged 21 and above has risen by 11p to £6.19 an hour, but there is no change for younger employees.Those aged between 18 and 20 will continue to […]
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Pensions revolution will compel 10 million people to start saving

Automatic pension scheme will target private sector workers, where those saving for old age dipped under 3 million last yearA scheme to enrol millions of people into workplace pensions automatically will be launched on Monday. Up to 10 million are expected to be enrolled eventually in what is hailed as the biggest pensions revolution since […]
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Austerity policies will hit a generation, says TUC chief

Brendan Barber says reform of banking sector and an activist industrial policy would give hope to families under pressureThe impact of government austerity policies will last for a generation, the general secretary of the TUC has warned, as Britain’s trade unions prepare to debate economic alternatives to public spending cuts at their annual conference next […]
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Young and low-skilled workers hit hardest as ‘underemployment’ rises

TUC says 3.3 million people are ‘trapped in jobs that don’t have enough hours to provide the income they need to get by’The number of adults who have a job but want to work more hours has risen by a million since 2008, according to the Trades Union Congress, with the young and those in […]
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George Osborne reeling as economy enters the disaster zone

Chancellor urged to rethink austerity plan by business, the City and opposition after shock slump in GDPGeorge Osborne was coming under intense pressure from business, the City and the opposition on Wednesday to rethink his hardline austerity approach after news of a deepening double-dip recession dealt a severe blow to the government’s deficit reduction strategy.The […]
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