In 1999, when UK minimum wage started, it was £3.60 an hour
That’s £144 a week for a 40 hour job
Gold was around £180 per ounce, so that wage was about 0.8 oz of gold per week
Today gold is around £3,150 per ounce
That same 0.8 oz would now be worth about £2,520 a week, roughly £63 an hour
Today’s UK minimum wage is £12.71 an hour
Do you see what’s happening here?
BREAKING: A new study finds a minimum-wage worker in 1971 had purchasing power equivalent to someone earning $100K a year today.
Since then, soaring housing, healthcare, and education costs have dramatically outpaced both inflation and wage growth.
The study argues the debate isn't about Gen Z's work ethic, it's that the economic ladder that built the American middle class has become dramatically steeper.
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