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Abstract:

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CentrePiece article
 Falling real wages
 David Blanchflower and Stephen Machin
May 2014
Paper No' CEPCP422:
Full Paper (pdf)

CentrePiece 19 (1) Spring 2014

Tags: wage inequality; real wage growth; unemployment; usa; uk; great recession

The researchers note that there have been historically unprecedented falls in UK real wages since the start of the Great Recession. What’s more, the long US experience of stagnant real wages (median real weekly earnings in the United States in 2013 were at about the same level as in 1979) might be viewed as a warning sign for the UK.
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