Research by the McKinsey Global Institute found that between 65% and 70% of people in 25 advanced countries saw no increase in their earnings between 2005 and 2014.

    The report found there had been a dramatic increase in the number of households affected by flat or falling incomes and that today’s younger generation was at risk of ending up poorer than their parents. Only 2% of households, 10 million people, lived through the period from 1993 to 2005 – a time of strong growth and falling unemployment – without seeing their incomes rise.

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