Britain is on the verge of becoming permanently divided between tribes of haves and have-nots as the young increasingly miss out on the opportunities enjoyed by their parents’ generation, the government’s social mobility tsar claim. After taking into account reductions in hours of work, which have decreased in the recession, the Institute for Fiscal Studies has highlighted that for those aged between 22 and 30, median earnings are 15% lower than before the recession, driven by a combination of lower hourly pay and fewer hours of work. This decrease is roughly twice the size as earnings decreases for the 30-59 age group.
Posted on: Sun, 19 Oct 2014 07:42:15 +0000
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