The number of workers earning less than a “living wage” had jumped from 3.4 million in 2009 to 4.8 million in 2012. The living wage, as opposed to the minimum wage of £6.31 an hour for those over the age of 21, is that considered to meet the basic needs of a reasonable standard of living. One-fifth of workers are classed as low paid—defined as those earning less than two-thirds of gross median hourly pay, or £7.44 an hour. The median salary in Britain is now estimated to stand at around £21,300 some £3,300 lower than at its peak in 2005-06. The number of workers turning to self-employment as a response to job losses has been rising, but they have not been exempt from enduring low pay. The report notes that “the typical incomes associated with self-employment have been falling, suggesting that many of those moving into this category might also be considered to be part of the bottom tier of Britain’s labour market … the median annual income reported by self-employed workers fell by £4,000 (or 28 percent) between 2001-02 and 2010-11. Again the trend appeared to accelerate post 2008, with a 15 percent decline in evidence between 2007-08 and 2010-11.” (Self-employed median is £14,285.) “Whole sectors of the British economy are now dominated by low-paying jobs. In hotels and restaurants 68 percent of workers now earn less than the living wage. In retail the figure is 39 percent. In 2007 the figures were 59 percent and 33 percent respectively.”
Posted on: Wed, 18 Sep 2013 11:41:22 +0000
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