Inflation, Wages and Employment – Lies and Facts

The government has claimed that in February real wages caught up with inflation and employment has increased. Here are the facts:

Wages

  • Average wages grew by 1.4%
  • But the government used the figure of 1.7%, which includes bonuses.

Cost of Living

  • The Retail Price Index (RPI), which includes housing costs, rose by 2.5%
  • But the government used the figure of 1.6%, which is the Consumer Price Index (CPI), which excludes housing.

So the truth is that in February, on average, a worker was really 1.1% worse off then the previous month. Living standards continue to fall.

foodbank graphThe fastest growth in Britain is in the number of people needing food banks, now 1 million. 60% of food bank users are in employment.

Employment

Unemployment in the UK is now at 6.9%, down from a peak of 8.4% in 2011. Youth unemployment is now at 20% down from 22% in 2012. But analysis of the growth in jobs in fact shows that the real growth is in job insecurity. 44% of the growth since 2010 is in self-employment with pensioners and part-time workers the fastest growing group. Workers of 50 years or older, account for half of the increase. Workers of 65 years or older are the fastest growing group, increasing by 29% since 2010.

Most new jobs are casual jobs to replace permanent, secure jobs. In many sectors including the caring areas previously covered by the public sector many of the ‘self-employed’ do the same work from which they were made redundant, but now without rights. Average income for the ‘self–employed’ dropped by a fifth between 2006 and 2010. The average income for self-employed women is now £10,000 a year. The annual number of people starting new businesses has fallen by 52,000 since 2010. For a detailed analysis see http://www.tuc.org.uk/economic-issues/economic-analysis/labour-market/labour-market-and-economic-reports/more-two-five-new

Inequality in Britain

Britain is now the 4th most unequal country in the world, an achievement for the Tories and Liberals. Shame on us all that we let them do it.

Graph: From Left Foot Forward http://www.leftfootforward.org/

The Workers’ Party Twitter Feed

Liberals & many on the 'left' exaggerate differences between Trump & Biden; click to see what would make a real difference.
There is no effective “freedom” in a society in which working people live in poverty & billionaires live like parasites.
https://m.facebook.com/story.php?story_fbid=10221826359541925&id=1045558919&sfnsn=scwspmo

Biden opposed moves to rebuild Afghanistan, advising a policy of fighting terrorism in the country. He also opposed withdrawal of US troops, which Trump carried out.
https://tolonews.com/afghanistan/biden’s-comments-rile-afghans-internationals

Arfasprout@arfasprout

@theworkerorguk Which international conflicts has biden spoken more violently than trump on? Evidence please.

Biden's regime will hold on to enclaves in the North East and work alongside Turkish invaders, continuing sanctions against the Syrian government. In general, Biden wants US global leadership, which he sees as being diminished by Trump's inconsistencies.
https://www.atlanticcouncil.org/blogs/menasource/limited-and-constrained-the-biden-administration-and-the-prospects-of-a-syria-policy/

Arfasprout@arfasprout

@theworkerorguk Which international conflicts has biden spoken more violently than trump on? Evidence please.

Biden intends to have tighter sanctions on DPRK, and to have stricter preconditions with respect to engaging on talks. The Democrat's president also intends to strengthen an alliance against North Korea. https://www.reuters.com/article/us-usa-election-biden-northkorea-analysi/biden-on-north-korea-fewer-summits-tighter-sanctions-same-standoff-idUSKBN25G2QO

Arfasprout@arfasprout

@theworkerorguk Which international conflicts has biden spoken more violently than trump on? Evidence please.

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