Where Have All The Wages Gone?

A new TUC report examines the reduced share of wages in the UK national income over the last 35 years. Data from the Office for National Statistics show that between 1977 and 2008 the wage share fell from 59 per cent of national income to 53 per cent, while the share of profits in national income rose from 25 per cent to 29 per cent. If wages had kept pace with growth in overall UK output between 1980 and 2010, median annual earnings for full-time workers would now be around £7,000 higher than they actually are:
http://www.tuc.org.uk/tucfiles/466/Where_Have%20_All_The_Wages_Gone.pdf