Monexnews-phase of economic slowdown in the developed countries make businessmen and Government agencies have to do massive efficiency in recent years. The effects are felt by residents, who were forced to receive smaller wages than what they usually receive.
United Kingdom is one of the countries that experienced the largest reduction of salary trends in Europe. According to a study conducted by the Trade Union Congress (TUC), the level of real wages of workers in the United Kingdom declined 4.5% since 2007, or at the time of the global financial crisis erupted, up to the year 2011. Penganggurannya own ratio is identical to the United States amounted to 7.8% but is relatively lower than the record high unemployment in the eurozone reached 11.9%. Of the 10 countries most advanced economy in the world, Italy is in the order of the two in the Affairs of the decrease in the number of rates of 2.7% during the last five years. While Japan followed behind him with the ratio declines in revenue figures by as much as 0.7%. According to the TUC, the level of wages in the United States and Germany are likely to be unchanged in the same period. In contrast, the number of citizens of Australia's income skyrocketed to 7% precisely thanks to advances in commodity production sector.
"Many countries experienced a decline in wage trends, but none as bad as the United Kingdom," General Secretary of the TUC, explained Frances O'Grady. Workers in the private sector and Government institutions suffered greatly by the climate of recession and stagnation. Pruning policies taken cause a decrease in the number of Central Government civil servants, tax increases, a reduction in allowances and wage restrictions. The anxiety of many companies on the business prospects also makes the ratio of salary increases are below the average inflation, which is its score consistently above the central bank's target. The condition is likely to last longer, particularly toward monetary easing plan activation and new stimulus by the Government.
"Employers want to keep consumers membelajakan more money, but at the same time United Kingdom residents busy-busy scrimping because his salary down," added O'Grady. He is assessing income trends such as these will not end anytime soon as long as economic growth remains negative and no salary increases failed to materialize. The purchasing power of consumers will not be able to raise the amount of profit the company and this cycle continues to rotate from time to time.
The Bank of England will meet Thursday to determine the stimulus policy, by adding a portion of the funds in the program of quantitative easing. United Kingdom economy stuck in a recession phase triple dip, shrinking by as much as 0.3% in the final quarter of 2012. Moody's AAA credit rating stripping owned United Kingdom last month after taking into account the country's economic prospects. United Kingdom Chamber of Commerce even trim the national growth rate this year to be just 0.6%.
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