Article preview: With the global financial crisis of 2008 now a distant memory for many, its lasting economic impact is particularly hard felt by the younger generations. New analysis has found that workers in their 30s are still feeling the pinch in their pay packets. In fact, the typical pay for this generation remains 7% lower than it was at its pre-crisis peak. This is according to the latest Earnings Outlook from the Resolution Foundation, who found that the unwelcome return of a pay squeeze in 2017 was followed by a return to recovery in 2018.
Lasting impact of the global financial crisis on pay
This 651 word blog post considers the findings from the latest Earnings Outlook from the Resolution Foundation, describing a lasting ‘scarring’ on wage growth for the generation who were in their 20s at the time of the global financial crisis. Includes an expert comment from Nye Cominetti, Economic Analyst at the Resolution Foundation. Written on 4th February 2019.
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