Lies, damned lies and statistics on average earnings

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This is the key chart in this morning's employment statistics:

Screen Shot 2014-06-11 at 11.29.58

Note that right hand end: there is a sharp downward trend in wage change, which means that, once again, they are below CPI.

But then note that this is bound to massively overstate the real situation. Firstly, this data excludes the earnings of the self employed. Second, note that 42% of all new 'jobs' in the last year were for self employed people who now make up 14.9% of the supposed workforce. Third, note that this is the trend in the earnings of the self employed over the last few years based on my research:

Screen Shot 2014-06-11 at 11.42.28

I am of course aware that the data is out of date, but the trend is very strong, it is the most up to date data we have and the economy since 2010-11 has hardly been buoyant.

Add it all up and I think that average earnings are highly likely to be falling. As I have already shown, that is definitely true for women. I suspect it is for men too.

Let's not accept these absurd statistics as the truth. They clearly are not.