Biggest take home income drop since 1981

Graham_Devon

Taken from our own site.

Households may have suffered their biggest drop in purchasing power for 30 years, a leading economic think-tank warned today.
A toxic mixture of lower pay and soaring inflation – currently at 5.3% – is contributing to the pain many are suffering.
The Institute for Fiscal Studies says analysis of new official figures suggests it 1s "entirely possible" that typical incomes dropped by 3% in 2010-11.

http://www.moneysavingexpert.com/news/banking/2011/05/take-home-incomes-drop-at-lowest-since-1981?utm_source=forum&utm_medium=sidebar&utm_campaign=box

Dodgy title though.

More interestingly, nice to see something in print that some of us have been sayign for ages...

IFS research economist Wenchao Jin says the latest DWP figures "tell a story of pain delayed, but not pain avoided".

chucky

so let me get this right... it has been the biggest drop in income for 30 years but income are back at 2004-2005 levels which is 6 years.
it's lazy soundbite journalism trying to attract the attention of people that know no better...

btw, the 30 years is unimportant - it's the income level that needs to be looked at.

"And were such a fall to be found in next year's data, it would represent the largest fall in median incomes since 1981, leaving median income close to its level in 2004-05."

Blacklight

In other news - it's entirely possible that alien lizard people live amongst on here on Earth. We may have also landed on the Moon, or we may have not.

Bin Laden may still be alive. 9/11 may have been an inside job. There may have been other bullets than the 3rd story window of the book depository and someone may or may not have parted the red sea once with their hands.

Facts > Speculation.

Graham_Devon

chucky wrote: »

so let me get this right... it has been the biggest drop in income for 30 years but income are back at 2004-2005 levels which is 7 years.

Biggest income drop for 30 years does not mean you have to see income drop to 1981 levels.

It's the size of the drop in income that relates to 30 years ago. Not the size of the income.

chucky

Graham_Devon wrote: »

Biggest income drop for 30 years does not mean you have to see income drop to 1981 levels

yes we know... well done, that was the whole point.

Graham_Devon wrote: »

It's the size of the drop in income that relates to 30 years ago. Not the size of the income.

percentage drops is irrelevant, the value of your £ note is what's important.

you're right on one thing, the biggest drop for 30 years sounds a hell of a lot better than income going back to 2004/2005

and there's a thread on this already here
https://forums.moneysavingexpert.com/discussion/3228056

Graham_Devon

chucky wrote: »

yes we know... well done, that was the whole point.

So what was all that "let me get this straight were only back to levels 7 years ago" and "attention of people who know no better" stuff about then?

chucky

Graham_Devon wrote: »

So what was all that "let me get this straight were only back to levels 7 years ago" and "attention of people who know no better" stuff about then?

stop looking for attention your embarrassing yourself

Graham_Devon

chucky wrote: »

stop looking for attention your embarrassing yourself

Oh right.

??????

Jimmy_31

chucky wrote: »

stop looking for attention your embarrassing yourself

Stop talking to yourself.