UK wages may be down, but life satisfaction is up, says ONS

Simply being employed – rather than the size of the salary – has the largest impact on people’s wellbeing, according to a study published yesterday from the Office of National Statistics (ONS).

The study Measuring National Well-being: Life in the UK 2012 found that while Britain’s GDP tumbled in 2009/9 our life satisfaction actually increased. And despite falling in real-terms waged employment has held up remarkably since the beginning of the recession

The study measured people’s social, environmental and economic happiness alongside the traditional measure of GDP and has provided a complete snapshot of life in Britain for the first time.

Speaking at the launch of the study, Lord Richard Layard from the London School of Economics said: “Of course income matters but it’s clearly not the only thing that matters.”….

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