FALLING WAGES (2)

Another example of how worker' wages have been falling appeared recently. "Consumers' disposable income has fallen by a sixth over the past four years, according to a report that highlights the squeeze on homeowners from the increase in mortgage costs, fuel bills and other essential payments. Just 22 per cent of a typical household’s monthly income is left over after taxes and essential bills have been paid, down from 28 per cent in 2003-2004, according to a study by report from Ernst & Young, the accountants. ... Adjusted for inflation, that means that an average family has seen their disposable income - "The pound in their pocket" - drop by 12.5 per cent." (Times, 22 June) RD