Today saw the release of the Annual Survey of Hours and Earnings (ASHE). ASHE, which is released every October, provides the most comprehensive insight into pay in the UK.

The message of this year’s pay figures is that, despite a few positive changes, the wider context remains the same. We’ve seen some positive news, but all of this is set against a bleak backdrop.

Still not recovered from the recession

Real median weekly wages have seen a 2 per cent increase on last year, but they remain £14 (3%) below 2008 levels.

This means that real median pay still hasn’t recovered from the recession, keeping us in a real pay squeeze that looks set to be the longest in centuries.