THE full impact of the recession was revealed today with the release of new figures showing workers on average suffered a real-terms pay cut of 1.7 per cent over the past 12 months.
Between June 2009 and June this year, average earnings rose by 1.1 per cent, the smallest rise for 20 years. During the same period, the cost of living rose by 2.8 per cent.
However, despite the news, Social Security Minister Ian Gorst denied that Islanders still battling the worst economic downturn for generations were now worse off than at any time for two decades.
• Are you an above-average earner? Find out in Wednesday’s JEP.
