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Record Number Of Britons In Low-Paid Jobs, Says Thinktank

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http://www.theguardian.com/politics/2014/oct/26/record-number-of-britons-in-low-paid-jobs-says-thinktank

A record 5 million workers are now in low-paid jobs, according to a new report, sparking calls for government action to help tackle the problem.

The Resolution Foundation said the numbers earning less than two thirds of median hourly pay – equivalent to £7.69 an hour – increased by 250,000 last year to reach 5.2 million.

The increase partly reflected growth in employment, but there was also a reverse in the previous year’s slight fall in low-paid work, said the thinktank.

The report said there was a serious problem of people being stuck in low-paid jobs, with almost one in four minimum wage employees still on that rate for the last five years.

Workers in Britain are more likely to be low paid than those in comparable economies such as Germany and Australia, said the Resolution Foundation.

What's the avg houseprice currently £160k-£170k?

£7.69 an hour for a 40hr week gives around a £16k salary. So if you are on your own the avg house is around 10x the salary of 5.2m workers.

Got to love the recovery, high waged jobs being replaced by low wage one.

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