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LauraBridges · 15/02/2014 13:13

Today's FT has a fascinating examination of income over 40 years from various jobs and professions:

The fractured middle: UK salary split sees übers pull ahead

A deep divide has opened among Britain’s high earners, with an “über-middle” elite reaping the rewards of globalisation while millions of “cling-on” professionals struggle to sustain a middle class lifestyle.

An analysis of almost 40 years’ worth of data on salaries for the Financial Times has found that a large, highly qualified group has slipped down the economic league table. The findings starkly illustrate the growing inequality, driven by the highest earners, that policy makers are grappling with. President Barack Obama has identified the divide as a central theme of his second term.
In a week when the Bank of England issued bullish forecasts for economic growth, capping the most sustained run of upgrades since it gained independence in 1997, it will also raise questions about which groups are reaping the spoils of the recovery.

READ FULL ARTICLE HERE: t.co/r1wg1tiM82

[POST EDITED BY MN FOR COPYRIGHT REASONS]

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Isitmebut · 17/02/2014 17:33

Claig..sorry, fast typing, never meant to call you a 'he’, I wish I was dead.

In answer to some of your inaccurate observations;
Our benefit bill had risen too fast in the new millennium, when it should have been coming down, I have provided the UK tops versus European proof and an explanation of basic economics, the automatic Economic Stabilizers (when unemployment goes down during a boom, not up), to prove it – if you want the links again just shout.

Manufacturing mostly died pre 1979, you try running a factory with costs above 20% in an economic inflation prices/earnings spiral, with many millions of man hours lost each year due to strikes and a 50% Corporate Tax SHOULD you make any money - and struggling to putting anything into Research & Development for your future product line – none of which the Germans or Japanese had then, or the Chinese later paying people 20% of our wages.

Obtaining an education is not difficult, taking advantage of the facility and working to the best of their ability is. Blair targeted 50% going on to further education I believe, more than virtually every other country, but forget the practicalities of that target and rigour of worthwhile subjects, he and Brown just forgot to tell anyone how the State would pay for it. Do you remember them receiving the options report and implementing a policy before leaving power, I don’t, and certainly a problem when leaving an annual deficit/overspend of over £150 billion a year.

So another Blair grandiose plan, without basic costing or thought to the social consequences of both lowering school standards and promoting higher education at the same time. Clearly if degrees taken are not useful to the job applied for, or 50% of those leaving full time education HAVE similar degrees, the career advantages of a degree becomes diluted.

-As for living standards, or inequality, it rises in the boom times, falls in the busts, but busts have no other advantages that I can see, as national debt ( and future tax rises to pay it down, or less future government optional spending on social projects) follows.

-The EU will not fail, it will become closer integrated for those that want to, possibly the original founder members in tier 1, then further tiers or speeds for the other members.