2010 to 2014 was the only five-year period where real disposable household income per head fell
2010 to 2014 was the worst five-year period for living standards since records began half a century ago, according to new analysis from the TUC.
The analysis, published today, compared five-year averages of UK disposable household income per head with the averages for the preceding five years.
It found that 2010 to 2014 was the only five-year period since records began in 1960 during which real disposable household income per head fell rather than grew compared to the preceding five years (2005-09).
Surprisingly, even during the height of the financial crisis from 2008 to 2012 there was a rise of 1.5 per cent on the preceding five-years (2003-07).
The TUC said the figures were further evidence that the coalition’s austerity programme was more to blame for the loss of living standards than the financial crisis that preceded it.
“Living standards have suffered the worst slump in at least half a century, leaving workers paying a heavy price for the government’s bad choices over the last five years,” said TUC general secretary Frances O’Grady.
“Conservative plans for extreme austerity after the election risk killing off the recovery again,” she added. “It would be Groundhog Day for living standards, making families worse-off and cutting public services down to a stump.”
James Bloodworth is the editor of Left Foot Forward. Follow him on Twitter
43 Responses to “2010 – 2014: the worst five-year period for living standards since records began”
Gerschwin
Pathetic. You still fronting for her right? Big brave Cole.
Gerschwin
Once again – in your opinion Cole. It’s not fact. It’s opinion. You are a moron – fact.
Gerschwin
You’re an idiot Cole. Obama’s contribution to ending recession was zero. You’ve only to look over the channel to see what happens when inadequate cretins from the left get their hands on the economy. If you want money Cole earn it don’t try to justify stealing it on Obama’s back – he’d have no time for the likes of you.
Gerschwin
Yeah… by 0%! Magic!
Leon Wolfeson
Keep making it up – things have been worse for business than that, under your Coalition, as you throw personal insults, and support crippling business, punishing aspiration and destroying jobs.
How *dare* the living standards of the poor be mentioned, as you ignore what’s spooking the markets – the anti-EU brigade. Stagnation is considerably better than what we have, as you whine about too few job losses, and that the poor are still alive, and not dying of starvation on the streets.
(Not that labour will deliver stagnation, since they’re dedicated to austerity and making things worse)