Britons get poorer as real household incomes suffer biggest fall since 2011 – business live

Economic wellbeing report shows that household incomes have fallen this year as families are hit by rising prices


We’ve had two separate US jobs reports, both weaker than expected.

First the ADP employment report, which showed the private sector created 158,000 jobs in June. It was a drop from the 230,000 jobs created in May, and fewer than the 185,000 predicted by economists polled by Reuters.

A spokesman for the Treasury has responded to the news that household disposable income per head fell by 2% in the first three months of 2017.

He said the government was already helping households, including through the introduction last year of a higher minimum wage for workers over-25s, known as the national living wage.

We are taking real action to help families increase their incomes and take home more of what they earn. A basic rate taxpayer now pays £1,000 less income tax than in 2010 and thanks to the national living wage the poorest households have seen their wages rise more than in any other G7 economy.

Continue reading…

Read full original article »