Rising City profits hit wages

Rising City profits hit wages

Spiralling financial profits have reduced workers' wages and squeezed profits across the rest of the economy, according to a TUC report published in December.
The TUC Touchstone Extra study - Where have all the wages gone? - examines why salaries have been falling for the last 30 years, where the money has gone and what this means for the economy.
Over the past three decades, the share of national income going to wages has fallen from 59 to 53 per cent, while the proportion of GDP going to profits has risen from 25 to 29 per cent. Combined with growing pay inequality, this has left workers on median incomes £7,000 worse off per year.
Summary information @
http://www.tuc.org.uk/economy/tuc-21751-f0.cfm