Workers’ income still below pre-crisis levels, says IFS

‘Real incomes for those of working age are still below pre-crisis levels, according to research by the Institute of Fiscal Studies (IFS).

The think tank expects median income for those aged between 22 and 59 to be lower in 2014-15 than in 2007-08, after adjusting for the impact of inflation.

Only over-60s will have higher incomes this year than 2007-08, it said.

Living standards have risen more slowly than in previous recessions, because of weak earnings growth, the IFS said.’

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