Posts Tagged ‘productivity’

UK’s dire productivity growth costing workers £5,000 in lost earnings

Falling productivity and Brexit uncertainty to blame for wage stagnation, says ONS

Britain’s dismal track record at increasing labour productivity following the financial crisis a decade ago has cost workers as much as £5,000 in missing income, according to official estimates.

The Office for National Statistics said the failure to maintain productivity growth – a key measure of economic output per hour of work – was one of the main reasons for a lost decade of pay growth for British workers. When companies are able to do more with less, they can increase salaries.

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