UK GDP by Income, Revisited
Since the TUC are hawking dodgy charts again, possibly only in an effort to annoy Tim Worstall, here is the numerical breakdown of UK GDP by income over the last six decades, taking the average over each decade to smooth out cyclical movements. Values given are the % of nominal GDP.
Since we have a shorter data set for the breakdown of the compensation of employees, here it is taking averages over five years – again % of nominal GDP:
As one of Tim’s commenters noted, the most hilarious thing about the TUC’s analysis is that they show the 1980s to be the most successful decade of the last three by a long way, on their chosen metric of median wages vs GDP growth. Thatcher was great for the workers – just ask Brendan Barber.