Reported 6 days ago
British workers are seeing a stronger position in the labor market, receiving a larger share of economic output compared to pre-pandemic levels due to chronic labor shortages and rising wages. The proportion of income taken by workers has reached its highest since the early 2010s, while profit share is falling, indicating that businesses are absorbing costs without passing them onto consumers. This trend raises questions about previous claims of 'greedflation' and suggests that recent wage growth may sustain this shift in favor of workers, supported by government policies like increased minimum wage and national insurance levies.
Source: YAHOO