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Recession prompted 'unprecedented' fall in wages
http://www.bbc.co.uk/news/business-22860320
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A glut of workers is driving wages down..... How many economists did it take to work that one out?
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I wonder what the figures are for the wealthy, have they seen a drop in wages? I suspect not, but I'd like to know the answer to that one.
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How can wages be held down in this way?
If families are not making enough money then they invariably have to lean more on the state? Low income families will also be out of the tax bracket too... It's a lose lose situation. So why are the government not leaning on companies to pay a living wage? |
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Yes the Wealthy have had Cut backs and sackings in the City, I know one man who did not like it (he was a fool to speak ) and they replaced him and moved him to office mail. He then left. Everyone can be replaced now as there are so many not in work. Times Are Hard all over the place. Even in China. |
The report in the OP is a very hard hitting one and also another thing going on is the following.
I have a friend who works for a company who have changed the the contracts which are,(being fair to the comapny),re-assessed every 3 years. Now from her past guaranteed working hours of 38 weekly,her new 'guaranteed hours are 35 weekly. The other 3 hours are now what they call 'discretionary' hours as to the company's needs in the future. It means on odd occasions my friend will have to work 38 hours when it suits the company, however in fact, she will for the greater part of each year be losing 3 hours wages every week from what she was on up until now. In effect a wage cut and loss of income. I would dare bet this is being done in likely lots of places too. So although workers are still in jobs, they are in fact being made worse off. When the Govt crows at any small fall in unemployment they never counter balance that with things like this happening or the rise as to only part time vacancies too. |
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