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It Will Take Britain Until 2099 to Double Wages at Current Pace

  • Employees seeking more hours eases pressure to boost pay
  • Real wages rose much faster before the crisis, Resolution says

U.K. workers will have to wait until the end of the century to see real wages doubling if the current pace of pay growth continues, according to the Resolution Foundation.

Nominal pay growth has risen by an average of 2.2 percent since 2014, about half the 4 percent pace before the financial crisis of 2008, the Resolution Foundation said in a report released on Tuesday. If the current trend continues, it will be 2099 by the time real wages double, whereas before the crisis it took just 29 years.