The graph below sets out a few statistics that look at the UK before and after Lehman. They are the macro level statistics that are often used to point out the scale of change – GDP growth, for instance. We’ve also included some measures of the social impacts – household income, pay and unemployment. The pay and income measures are adjusted for inflation, and we include a line for the consumer prices index as well. The household income estimates only go up to 2012 at the moment, all of the other data covers at least some of 2013.
By clicking on the categories you can show and hide the lines. The line for unemployment is showing currently. Clicking on the unemployment button will hide this line.
The graph illustrates that not all of the social and economic problems we face today came along at the same time – GDP fell sharply in 2009 and unemployment rose. But the fall in median incomes did not begin to fall in earnest until a year later, when median pay also began falling more sharply. There are implications for the recovery here. As GDP improves, incomes and pay may still lag behind. Looking at unemployment, despite the better recent figures, the overall level is still very high, and in terms of raw numbers still above the 2009 figure.
This interactive graph derives from an earlier blog on the topic. Read the full blog here. Unfortunately, this visualisation cannot be viewed in older versions of Internet Explorer (IE 8 and earlier). You can download a newer version here .