Falling living standards | UK workers have over £10k less a year - employers must support them

Research from the think-tank Resolution Foundation and the London School of Economics found that UK employees are missing out on roughly £10,700 a year as a result of a weakening economy and high inequality.

The paper’s researchers warn that the UK is facing declining living standards, as workers struggle against the backdrop of over a decade of low economic growth. As a result, they’ve called for a reconsideration of economic strategy.

Notably, the study found there is a living gap worth £8,300 between UK workers and workforces in other wealthy Western countries, such as Canada, France and the Netherlands.

Read more from us

Festive finances | Half of firms are concerned that employees won't be able to afford Christmas party

It was found that this economy disproportionately impacts younger workers, who have never worked in an economy with consistent wage increases.