- MarketPulse - https://www.marketpulse.com -

UK Wages Falling in Real Terms

It looks like those hard times the Bank of England warned about are here already.

Even as unemployment dropped to its lowest in more than four decades last quarter, U.K. workers saw their real earnings fall for the first time in 2 1/2 years, data from the Office for National Statistics showed on Wednesday. That’s particularly problematic for a nation that has relied on buoyant consumers to keep spending, not least as it enters negotiations to leave the world’s largest trading bloc.

The figures are almost certain to fuel the debate over living standards as Britain prepares for a general election on June 8. Real earnings are still below their level before the 2008 financial crisis, and their recovery over the past two years is now going into reverse as the weak pound pushes up prices. BOE Governor Mark Carney said last week that households will face “challenging times” in the second half.

Bloomberg [1]

Oil Spills As Gold and Silver Shine [2]

Gold Continues Rise on Soft Construction Numbers [3]


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam [8]

Senior Market Analyst, UK & EMEA at OANDA [9]
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

Latest posts by Craig Erlam (see all [8])