Jersey living standards drop 22% over 11-year period

Living standards in Jersey fell by 22% between 2000 and 2011, according to the island's Statistics Unit.

The Gross Value Added (GVA), calculated from firms' profits and workers' wages, fell to £37,000 per capita.

The GVA per head of population is used by the UN and EU as a standard indicator of living standards.

Workers in the finance industry contributed £124,000 per full-time employee, compared with an average of £50,000 for other sectors.

The lowest values were in hospitality (£28,000) and agriculture (£31,000).

Finance is the biggest industry in Jersey, making up 40% of the economy and employing nearly 13,000 islanders.

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