IFS: Men's pay dropped three times more than women's since financial crisis

A new study has revealed that men's pay has dropped by almost three times that of women's since the recession.

The Institute for Fiscal Studies (IFS) says that the real wage drop for women since 2008 has been 2.5%, whereas for men it has been 7.3%.

The report also highlights the fact that average hourly wages for all employees still sits 4.7% lower than it did in 2008 when inflation is taken into account.

The report explains that one of the reasons behind the different pace in decreasing wages is that "female employees are significantly more likely than men to work in the public sector and, so far, mean earnings falls have been smaller in the public sector," the report reads.

Jonathan Cribb of the IFS said: "Almost all groups have seen real wages fall since the recession.

"The pay of young adults remains well below its pre-crisis level after particularly large falls between 2008 and 2011, while the average pay of those aged 60 and over has already recovered.

"Women have seen much smaller falls than men. Falls for the low-paid have been somewhat smaller than for those on higher pay, driven by trends since 2011."

The report also says that the top 10% of earners in the UK have seen their wages drop at a faster rate than the bottom 10% in real terms – down 6.4% compared to 3.3%.