Financial crisis hit millennials hardest, IFS says

Earnings for UK workers are still lower than they were in 2008, having failed to recover in the 10 years since the financial crisis and millennials are the hardest hit, according to figures from the Institute for Fiscal Studies. GDP is just 11 per cent higher than it was was at the peak of the crisis, meaning the economy is 16 per cent, or £300bn, smaller than it would have been based on pre-crisis trends. The “most direct effect of this has been to hit workers’ pay packets”, the IFS said.
Read more: https://www.independent.co.uk/news/business/news/financial-crisis-millennials-hit-hardest-uk-workers-earnings-wages-gdp-ifs-a8533761.html?source=Snapzu