Bulletin

Regions cut pay gap with London as capital's workers feel squeeze

Card

Official figures analysed by the Financial Times show that workers who live in London have suffered a bigger wage squeeze than those in any other UK region since the crash. Annual pay rose just 2.5% in cash terms for the median worker living in the capital between April 2008 and April 2014, compared with a 5.9% increase for the average UK worker and a 9.9% hike for the median worker in the North East. Tony Travers, a professor at the London School of Economics, said the capital's pattern of weak wage growth and strong job creation looked like a more extreme version of trends that have characterised the UK labour market as a whole since the crisis. 'London does have the biggest private sector economy of any region in the country,' he noted, 'so it's likely to be the least unionised, the most flexible.'

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?