Since the global financial crisis of 2007/08, workers? real wages and family living standards in the UK have suffered to an extent unprecedented in modern history. Real wages of the typical (median) worker have fallen by almost 5% since 2008, while real family incomes for families of working age have just about recovered to pre-crisis levels. But almost all groups of individuals and families ? with the exception of pensioner households ? are no better off on average than in 2008. In particular, there is an important generational shift, with young people doing considerably worse.

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19 May 2017     Paper Number CEPEA036

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This CEP election analysis is published under the centre's Labour programme.