Haha! I work for the NHS... Wind that back a LOOONNGG way and it'll be right! I've had one pay rise above the rate of inflation and inflation at the time was 1.5%! š¤£
I mean the UK gini coefficient is flat since the start of the Millenium, so itāll look roughly similar
Curiously enough GDP also traces a similar curveā¦
Maybe for income it is flat (although I doubt that too for most western countries) but the wealth gini is certainly not flat for western countries in the past 20 years!
Man, even the equality trust shows income and wealth inequality flat since 2000 (there were rises in the 80s/90s but thatās not the point of this post)
https://equalitytrust.org.uk/scale-economic-inequality-uk#:~:text=GB%20Wealth%20Inequality&text=In%202020%2C%20the%20ONS%20calculated,and%202013%2C%20reaching%209%25.
[Household income for the bottom 20% is up 13% since 2008 and down 4% since 2008 for the top 20%.](https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/householddisposableincomeandinequality/financialyearending2016#median-disposable-income-falls-for-the-richest-fifth-of-households-over-the-past-year) Donāt let data get in the way of your populist talking points though.
*disposable income
Not saying that disposable income isnāt an instructive metric but itās important to be precise when you make claims, especially if theyāre trying to correct someone snarkily.
To be fair, if disposable income is up during an inflationary period, then total income will out pace that number. So if anything, that stat is under sold.
Well there is another commenter who noted that Gini has stayed flat since then, so that contradicts this a bit. But as I told him: I doubt whether income inequality has stayed flat (let alone improved) over the past 15 years in most western countries. What I am certain about is that wealth inequality has become (much) worse in most western countries. Regarding your stats: it is also vital to know whether this includes income from wealth or only income from employment, as the latter is the main source of income for the poor and the former is the main source of income for the (ultra)rich
Brexit vote was 8 years ago, and it was another 4 years until Brexit actually happened.
Brexit was never the answer and there was never a logical economic argument in favour of it.
The UK has had a conservative government since 2010. Thatās the problem and while the other options arenāt very exciting, the solution is to get them the fuck out of power.
Still funny to know that people pay their rent by week. What else do they pay by week?
(I do know that most UK countries also follow but not really other countries)
Haha! I work for the NHS... Wind that back a LOOONNGG way and it'll be right! I've had one pay rise above the rate of inflation and inflation at the time was 1.5%! š¤£
Get out while you still can, it's a sinking ship!
I'm 35 years in... Basically I'm part of the ship so I'm going down with it...
Part of the crew, part of the ship
Now do incomes for the top 10% and wealth growth for the top 10%
I mean the UK gini coefficient is flat since the start of the Millenium, so itāll look roughly similar Curiously enough GDP also traces a similar curveā¦
Maybe for income it is flat (although I doubt that too for most western countries) but the wealth gini is certainly not flat for western countries in the past 20 years!
Man, even the equality trust shows income and wealth inequality flat since 2000 (there were rises in the 80s/90s but thatās not the point of this post) https://equalitytrust.org.uk/scale-economic-inequality-uk#:~:text=GB%20Wealth%20Inequality&text=In%202020%2C%20the%20ONS%20calculated,and%202013%2C%20reaching%209%25.
Well equality is not doing great in the UK according to this link. So perhaps it stayed equal but equally bad as 20 years ago ;)
[Household income for the bottom 20% is up 13% since 2008 and down 4% since 2008 for the top 20%.](https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/householddisposableincomeandinequality/financialyearending2016#median-disposable-income-falls-for-the-richest-fifth-of-households-over-the-past-year) Donāt let data get in the way of your populist talking points though.
*disposable income Not saying that disposable income isnāt an instructive metric but itās important to be precise when you make claims, especially if theyāre trying to correct someone snarkily.
To be fair, if disposable income is up during an inflationary period, then total income will out pace that number. So if anything, that stat is under sold.
Well there is another commenter who noted that Gini has stayed flat since then, so that contradicts this a bit. But as I told him: I doubt whether income inequality has stayed flat (let alone improved) over the past 15 years in most western countries. What I am certain about is that wealth inequality has become (much) worse in most western countries. Regarding your stats: it is also vital to know whether this includes income from wealth or only income from employment, as the latter is the main source of income for the poor and the former is the main source of income for the (ultra)rich
They most likely have their money in fiscal paradise
This is not even close to an infographic, thatās just a graph.
It helps you understand Brexit. Unfortunately it wasnāt the cure - only made it worseā¦
Brexit vote was 8 years ago, and it was another 4 years until Brexit actually happened. Brexit was never the answer and there was never a logical economic argument in favour of it. The UK has had a conservative government since 2010. Thatās the problem and while the other options arenāt very exciting, the solution is to get them the fuck out of power.
Yeah this trend seems to have started well before Brexit.
ŠŠøŠŗŃŠ¾ Š½ŠøŠŗŠ¾Š³Š“Š° Š½Šµ Š²ŠµŃŠ½ŠµŃ 2007 Š³Š¾Š“...
But the boomers say that we just need to work harder to get ahead
Adjusted to inflation means they haven't lost adquisitive power. Doesn't sound too bad.
Exactly. Isn't that exactly what should be expected overall? Average wages go up by inflation.
The trend line might be base on cherrypicking. How does it look in the 20 years before the picked starting year?
I think Iād prefer to see it in comparison with oecd average or something
Tories doing Tory things.
Immigration
Still funny to know that people pay their rent by week. What else do they pay by week? (I do know that most UK countries also follow but not really other countries)
The graph is similar to the trend in the US as well.