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International

Place to discuss every international news/issue.

Shubham Singh , Jul, 28 2016

UK workers suffered the biggest drop in wages, joining GREECE at the bottom of the league table after earnings fell by 10%


Workers in the UK have suffered the biggest fall in wages among leading countries since the financial crisis, a new study shows. Between 2007 and 2015, wages fell in real terms by 10.4 per cent - a drop equalled only by Greece, according to analysis by the TUC. The fall is the biggest among leading OECD countries, including Portugal, Spain, France, Germany and Ireland, according to the report. Today's analysis showed that while real wages in the UK fell by 10.4 per cent, earnings in Poland rose by 23 per cent, in Germany they grew by 14 per cent and France by 11 per cent. Across OECD countries, real wages rose by an average of 6.7 per cent. Along with Greece and Portgual, Britain was one of just three countries that saw real wages fall since the 2007 crash.
Workers in the UK have suffered the biggest fall in wages among leading countries since the financial crisis, a new study shows. Between 2007 and 2015, wages fell in real terms by 10.4 per cent - a drop equalled only by Greece, according to analysis by the TUC. The fall is the biggest among leading OECD countries, including Portugal, Spain, France, Germany and Ireland, according to the report. Today's analysis showed that while real wages in the UK fell by 10.4 per cent, earnings in Poland rose by 23 per cent, in Germany they grew by 14 per cent and France by 11 per cent. Across OECD countries, real wages rose by an average of 6.7 per cent. Along with Greece and Portgual, Britain was one of just three countries that saw real wages fall since the 2007 crash.

Medha , Jul, 28 2016


Independent economists all say the same thing. That the whole world will se a re adjustment in wealth. Because there is so much debt, its hitting crisis point. For instance the US debt is now equivalent to 1 million per household. The banks have been hiding this debt all over the world in derivatives and coco bonds ect. Seits he bank has trillions. The Japenese have been using quantative easing continuously for 10 years and it still hasnt made a hole in the growth of debt. The whole of the EU and the U.K., China and many other countries are set to become a lot poorer in real terms. In the US many have not seen a wage rise in real terms since the 1970s hence Trumps popularity. People think the Americans are mad but they are just disillusioned and all the time the elite get richer and show off their wealth. Now we have extremes of politics as a result . Far left and far right parties because no one trusts the middle any more.
Independent economists all say the same thing. That the whole world will se a re adjustment in wealth. Because there is so much debt, its hitting crisis point. For instance the US debt is now equivalent to 1 million per household. The banks have been hiding this debt all over the world in derivative


Shalini , Jul, 28 2016


France, Germany and Austria put controls in place to prevent wage depression and havent seen the same wage depression as the UK. Zero hour contracts and part-time agency work didnt spring up in a vacuum, they required a market in which labour was in great supply to develop. This isnt blaming the migrants, by the way they simply did the sensible thing of moving to a country where they could do the same work for around 4 times the pay. Its blaming the labour government who realised we were heading towards 0% unemployment which is the perfect condition for wages and conditions actually rising - and decided not to put interim controls in place to prevent this from happening. Then, ten years down the line, the same people who suddenly saw lots of competition for their jobs and a drop in their wages wanted to leave the EU, and the line we expected them to swallow was that it never happened. How does no-one draw a link between these things? How did anyone think this would work to convince them? All I can say is that half the people on my road could suddenly afford a house extension around 2006, and it wasnt because they all suddenly started making more money.
France, Germany and Austria put controls in place to prevent wage depression and havent seen the same wage depression as the UK. Zero hour contracts and part-time agency work didnt spring up in a vacuum, they required a market in which labour was in great supply to develop. This isnt blaming the mig


Stella , Jul, 28 2016


I truly think that Britain made a mistake with the Brexit vote and is slowly becoming poorer and poorer and also less and less relevant in the world. Hopefully, it will not need to become too poor before the British realise their mistake and hold another referendum. In the early 1980s when the Maastricht Treaty came up for signing, the Danish government held a referendum in Denmark to ask their people whether to sign or not. The Danes said no. The Danish government explained why joining was in Denmarks interest all over again and then some months later held the referendum again. The Danish voters saw their mistake and voted to sign the Treaty. Leaders are chosen to lead not to keep asking the voters what to do because they have far more access to information than the average voter. Not to mention the lies that Boris Johnson and Nigel Farage used to mislead the British. So a leader should lead. Since the referendum nothing in the British economy suggests that it was a good decision. Someone with leadership qualities should say, " All right, now that the voters have a lot of new information, let us hold the referendum again," and then do so. The only one who has mentioned doing that is Owen Smith, so its time the Tory government fell and new elections were held and then vote for Mr Smith.
I truly think that Britain made a mistake with the Brexit vote and is slowly becoming poorer and poorer and also less and less relevant in the world. Hopefully, it will not need to become too poor before the British realise their mistake and hold another referendum. In the early 1980s when the Maast


John , Jul, 28 2016


I have a simple solution. Cap the % of wages that can be taken by employment agencies. I have friends who work at these agencies and they took 55% and 40% of my wage respectively. What I mean by this is that the company gives an amount to pay for an employee and the agency takes their cut. More often than not, the cut they take is criminally high. For example, if the company gives the agency £15 for an employee and then agency keeps £7.80, they are obviously acting within the law since the employee is still getting minimum wage. But this is hardly helping the common man and as a result, the economy. It results in the employment agencies making huge profits off the back of the workers, while the workers receive minimum wage. If they capped the percentage agencies could take, it would benefit millions of people. Surely capping it at 25% is fair.
I have a simple solution. Cap the % of wages that can be taken by employment agencies. I have friends who work at these agencies and they took 55% and 40% of my wage respectively. What I mean by this is that the company gives an amount to pay for an employee and the agency takes their cut. More ofte


Ashok Kapoor , Jul, 28 2016


The U.K. had consistently higher inflation for years after the crisis. Sterling dropped from north of 1.6 Euros to the pound to 1.25 in 2007. It then fell to almost parity before recovering to the mid teens. We had a recent rise as the Eurozone stagnated before Brexit pushed it below 1.2. It is going to fall further. If we have a hard Brexit, through the floor. Inflation depresses real earnings. Unfortunately, working people feeling the pain were misled it was immigrants causing the problem. They actually fuelled growth which eased some problems with the economy but GDP per head didnt improve much. The U.K. has problems going back decades. Instead of focusing on growing the whole country through long term investment in high value products and services we have handed our economy over to the dicers and slicers in the City. They only care about quick returns and industry has suffered for it. The poor people who thought voting Leave would improve their lives are going to be sorely disappointed. Higher inflation is coming coupled with recession and stagnant wages. Wrecking the economy to stop immigration was never going to be a good idea.
The U.K. had consistently higher inflation for years after the crisis. Sterling dropped from north of 1.6 Euros to the pound to 1.25 in 2007. It then fell to almost parity before recovering to the mid teens. We had a recent rise as the Eurozone stagnated before Brexit pushed it below 1.2. It is goin


Aarushi , Jul, 28 2016


Completely skewed reporting. Probably because people are paid too much in the first place! The reason most countries salaries havent dropped by 10% is because a lot of people, especially those in southern EU countries are paid minimum wage of around 500 euros per month. I would like to see Brits surviving on the same sort of wage. The cost of living is not that much cheaper. Food and utilities are around the same price the only thing that is cheaper is child care. No free health care either anywhere else. British people should try living within the same means as those in other countries and then they would stop whinging about how tough life is and how hard done by they are. And no the drop has nothing to do with migration, those immigrants on low paid jobs in the UK are doing the jobs that British people woudnt get out of bed for. Red arrow away, no one likes hearing the truth.
Completely skewed reporting. Probably because people are paid too much in the first place! The reason most countries salaries havent dropped by 10% is because a lot of people, especially those in southern EU countries are paid minimum wage of around 500 euros per month. I would like to see Brits sur