According to research shared exclusively with BBC Panorama wage stagnation has left workers in the UK much poorer since 2008.
The Resolution Foundation, which focuses on low-to-middle income families, examined what wages might be today if growth seen before the 2008 financial crisis had not fallen away.
It is huge sum especially as we are facing a cost-of-living crisis.
The stagnation has left workers £11,000 worse off a year.
Germany
It also found typical UK household incomes have fallen further behind those in Germany and by quite a gap.
In 2008, the gap was over £500 a year, now it is £4,000, a huge increase.
Torsten Bell, chief executive of the Resolution Foundation, says that the wage stagnation of the past decade and a half is “almost completely unprecedented”.
“Nobody who’s alive and working in the British economy today has ever seen anything like this.
“This is definitely not what normal looks like. This is what failure looks like,” he added.c
Brexit
The Office for Budget Responsibility says that since the UK’s vote to leave the European Union in 2016, business investment in the UK has “stalled”.
Last month, the work and pensions secretary, Mel Stride, acknowledged Brexit had delivered a blow to investment decisions in the UK. He told the BBC: “I think if you have a situation where you create frictions between yourself and your major trading partners, I think you have to accept that that will have an impact.”
Ros Atkins shared the graph and wrote: “This graphic shows what’s happened to average weekly wages in the UK. According to research shared exclusively with @BBCPanorama, stalling wage growth has left British workers £11,000 worse off per year. More details here. And our Panorama is out later.”
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