Society
Economist Reveals UK Middle Class Wages Stagnate as Minimum Wages Rise
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Why Everything Is So Expensive - Financial Expert Patrick Boyle Explains
"The sort of minimum wage is quite high in the UK. So we'll say like, you know, entirely unskilled work, like the kind of job a teenager could get, pays much higher in the UK than anywhere else in Europe and in the United States. It's really high. But then it's that kind of university-educated, like, you know, it's sort of the worst thing where if you're like a junior engineer, you might be earning, you know, 10% more than the guy making the coffees in the cafeteria."
Boyle identified a wage compression crisis where UK minimum wages are among the world's highest, but university-educated professionals earn only marginally more than unskilled workers. An American engineer reportedly laughs at London branch salaries. Combined with high student debt from increased university fees introduced 10-15 years ago, educated workers see no premium for their qualifications, creating widespread anger in the squeezed middle class.
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