Real-terms pay drop 'unprecedented'

AOL Money Staff
Empty pocket
Empty pocket

Wages have fallen by more in real terms during the current economic downturn than ever previously recorded, according to new research which found an "unprecedented" impact even on workers who have kept their jobs.

One-third of workers who stayed in the same post following the recession suffered a cut or freeze in their wages in cash terms in 2010-11, according to analysis by economic think-tank the Institute for Fiscal Studies.
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