IFS: UK wages have not recovered to pre-crisis levels

Annual earnings more than 3% lower than in 2008 with millenials worst hit

The financial crisis has had a lasting impact on the UK economy and people's incomes, with annual wages still 760 lower than they were a decade ago , according to the Institute for Fiscal Studies.

The institute's analysis shows median annual earnings fell to 23,327 last year, 3.2% lower than in 2008 when the average wage was 24,088.