{"id":325806,"date":"2011-03-21T06:48:29","date_gmt":"2011-03-21T06:48:29","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/21\/recession-hit-poor-the-hardest\/"},"modified":"2011-03-21T06:48:29","modified_gmt":"2011-03-21T06:48:29","slug":"recession-hit-poor-the-hardest","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/21\/recession-hit-poor-the-hardest\/","title":{"rendered":"Recession ‘hit poor the hardest’"},"content":{"rendered":"

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\n 21 March 2011<\/span>
\nLast updated at <\/span>02:48 ET<\/span>
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Pensioners and the poorest households are amongst those that have been the worst hit by the recession, according to a study by the Institute for Fiscal Studies (IFS) and the BBC.<\/p>\n

The UK’s richest households have been hit even harder, however.<\/p>\n

Across the board, real incomes in the UK fell by 1.6% a year between 2008 and 2011, the study found.<\/p>\n

By contrast, the median household income rose 1.6% per year during the previous 50 years.<\/p>\n

Incomes have fallen because of loss of employment during the recession, lower interest earnings on savings and low wage inflation relative to price inflation, the study found<\/p>\n

The poor and the rich<\/span><\/p>\n

The UK’s poorest, defined as the middle of the bottom 10% of households or the fifth percentile, saw their real income fall by 2.1% between 2008 and 2011, according to the IFS.<\/p>\n

That is a fall of \u00a3182 per year. In normal times they might have expected their annual income to rise by \u00a3428.<\/p>\n

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Average income changes 2008-2011<\/h2>\n

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