Friday 14 Jun 2013 @ 09:25
Think Tanks
Think Tanks
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Workers kept their jobs but one third faced nominal wage freezes or cuts
This time really is different. The period since the recession began in 2008 has seen the longest and deepest loss of output in a century and the largest public sector deficit since the Second World War. But it has also been a period when:
published recently in a special issue of the IFS’s journal Fiscal Studies and in an
accompanying IFS working paper.
Click here for full press release
- Real wages have fallen by more than in any comparable five year period;
- Productivity levels have dropped to an unprecedented degree;
- Employment has dropped by much less than in previous recessions;
- Inequality has fallen – in sharp contrast to the 1980s recession and its aftermath;
- Older workers and consumers have been much less affected than younger generations.
published recently in a special issue of the IFS’s journal Fiscal Studies and in an
accompanying IFS working paper.
Click here for full press release
