Firstly, the graph does not show what Raab is claiming. The graph does show that after 8 years of Conservative government, real wages are lower than when the coalition took office. In fact they are lower now than they were during the Great Global Recession in 2008. This shows an appalling and shameful record.
After the global recession in 2008, consumer prices rose faster than the average wage, so the real value of wages fell. They continued to fall until 2014.
The average real wage is now actually lower than it was ten years ago.
Following the recession in 2008, average wages fell almost consistently in real terms until mid-2014. From 2014 to 2016, inflation was low and wages increased, though they’re still not back to their pre-recession levels. Now, inflation has caught up again, and real wages are levelling off a little.
Analysis by the Office for…
View original post 1,420 more words