Top pay soars, average pay slumps

Submitted by martin on 18 June, 2012 - 2:59

While the pay of bosses of the top 100 companies rose 10% in 2011, average household incomes are slumping.

A new report by the Institute of Fiscal Studies finds that in 2010-11 mean household income (the average of household incomes) fell 5.7% and median household income (the income of a middling household) fell 3.2%.

Both averages are below their 2004-5 level.

The one-year fall in 2010-11 was the biggest since 1981, and the longer-period fall is one of the largest on record.

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