• Privacy policy
  • T&C’s
  • FAQ
  • Meet the Team
  • About The London Economic
  • Advertise
TLE ONLINE SHOP!
NEWSLETTER
SUPPORT THE LONDON ECONOMIC
  • TLE
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Food
  • Lifestyle
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
  • TLE
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Food
  • Lifestyle
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home News

Londoners Are The Poorest Workers In Britain

Londoners are the poorest workers in Britain, according to new research, with the average worker barely left with £50 after all their outgoings are accounted for. Based on new roles advertised in Q3 2016, the job site revealed that the average annual salary in London is £37,408; just 13.2 per cent greater than the national […]

Jack Peat by Jack Peat
November 9, 2016
in News

Londoners are the poorest workers in Britain, according to new research, with the average worker barely left with £50 after all their outgoings are accounted for.

Based on new roles advertised in Q3 2016, the job site revealed that the average annual salary in London is £37,408; just 13.2 per cent greater than the national average of £32,596 per year.

However, further research revealed that premium costs in the capital drastically outweigh the slightly higher-than-average salaries, meaning Londoners have the least disposable income in the country.

Comparing the same basic living costs against average salaries in 16 of the UK’s key cities revealed how employees in Scotland and North England remain the richest in the UK:

richest-to-poorest-uk-workers

*Basic monthly costs include rent (small, one-bed flat, located close to the city centre), relevant council tax, a local monthly travel card, basic utility bills and groceries.

The results suggest that a worker in London could end up in serious debt if they want the same living standards as anyone else in the country, despite holding senior, well-paid jobs.

RelatedPosts

Best reactions as usual mouthpieces are foaming over a genderless Potato Head

Prince Harry: ‘We all know what the British press can be like. And it was destroying my mental health’

Shamima Begum cannot return to the UK to pursue appeal, Supreme Court rules

Budget: Denying NHS staff pay rise ‘kick in the teeth to our brave hardworking NHS heroes’

Lee Biggins, founder and managing director of CV-Library, explains: “Many workers are attracted to the capital as it is home to some major organisations, offering exciting job prospects. However, the high cost of living in London means that the vast majority of workers are left high and dry after pay day, placing many in a compromising position. There is a growing concern across the nation surrounding property costs, with current house prices in the capital reinforcing how unobtainable it is for working Londoners to get on the property ladder. Eventually, this could result in people retreating from London, in search of areas which offer a better state of living.”

To delve even further, when comparing the purchase of a one-bed flat in London, to a similar one-bed flat in Glasgow, the difference is significant. Whilst the average cost of a one-bed flat in Glasgow is £76,286, the same flat in London would be £550,764; six times more expensive (622%). However, when comparing average salaries in both cities (£37,408 in London and £33,417 in Glasgow), Londoners only earn 12 per cent more than workers in Glasgow.

In real terms, a professional in Glasgow would spend 16.1 per cent of their salary on a mortgage for a one bed property and still have £1,810 left in their pocket to cover bills and other living expenses. A Londoner would need 105.2 per cent of their salary to pay the mortgage alone, leaving them in debt before they have even considered how to cover bills and other basic costs.

Biggins concludes: “Wages and living expenses in London are not relative to the rest of the UK, making Londoners the poorest workers in Britain. While the government is taking steps to ensure that Londoners can afford to live, many job hunters and businesses are continuing to scrape the barrel in order to get by.”

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Tags: featured
Support fearless, free, investigative journalism Support fearless, free, investigative journalism Support fearless, free, investigative journalism

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending fromTLE

  • All
  • trending

What If We Got Rid Of Prisons?

Stress, fear and homelessness: The threat looming over families confronted with eviction

File photo dated 07/11/03 of a prison cell.

The Other Prison Pandemic

Latest from TLE

Best reactions as usual mouthpieces are foaming over a genderless Potato Head

Prince Harry: ‘We all know what the British press can be like. And it was destroying my mental health’

Shamima Begum cannot return to the UK to pursue appeal, Supreme Court rules

Budget: Denying NHS staff pay rise ‘kick in the teeth to our brave hardworking NHS heroes’

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

Contact

Editorial enquiries, please contact: jack@thelondoneconomic.com

Commercial enquiries, please contact: advertise@thelondoneconomic.com

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Lifestyle
  • Food
  • Property
  • Travel
  • Tech & Auto
  • About The London Economic
  • Meet the Team
  • Privacy policy

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.