What is the context of the 5 percentile figure at the end? For instance, is someone receiving a 5th percentile wage likely to get that year after year or is it likely to be a temporary situation? The policy prescriptions are completely different for people who are stuck in this bracket instead of those who meet this for a while and then move out.
The obvious missing chart is the one for the top 5% — they had a brilliant 50 years, and a fantastic crisis.
Tim Harford is an author, columnist for the Financial Times and presenter of Radio 4's "More or Less".
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