Since I'm over in London, I pick up on local news, which has been full of fallout from various austerity programs designed to roll back pensions, housing subsidies, etc. Firefighters, Tube workers, and BBC journalists are all threatening strikes. There's also been a lot of coverage of the widespread strikes/shutdowns in France.
At the same time, executive pay is up 55%!
Incomes Data Services, who conducted the research, said bonuses paid to directors of FTSE 100 companies increased by 34%, while basic pay rose by 3.6%. The amount of money waiting to be disgorged from long-term incentive schemes soared by 73%, to a total of £259m, and share option gains leapt by 90%.
The FTSE 100 rose by less than a fifth over the same period.
Steve Tatton of IDS said the report suggested that companies returned to "business as usual" once the recession ended.
This is an economics article, so it's important to note that the phrase "once the recession ended" refers to the technical end to contracting GDP. As we've increasingly seen by most other measures, the real impact of the "Great Recession" is likely to persist. Incomes for normal people remain depressed (or are falling) and unemployment is high. It is a "jobless recovery," and cold comfort indeed to anyone feeling the pain right now.