It may not be a merry Christmas in Hackney this year, with average wages in the borough taking a sharp fall.
New figures from the Office for National Statistics have shown that average earnings in Hackney have dropped by 3.2 per cent since 2013.
In London overall, wages only fell by 0.8 per cent between 2013 and 2014.
In 2013, a Hackney resident could expect to bring home £598.77 a week, on average; in 2014, they can expect to bring home £580.20.
The alarming statistics have caused concern among both shoppers and local proprietors.
One Dalston resident said: “I will have to borrow money to make Christmas happen this year.”
A local shopkeeper, who did not wish to be named, said: “Without a strong festive season survival could be touch and go next year.”
Staff at the Gujarati Rasoi restaurant in Dalston added: “Business is currently good, but it is not the strongest year we have seen.”
Krisha Patel, the owner of a small shop in Hackney, complained that business “is constantly up and down.”
Women have experienced a greater drop in their wages than men, with pay packets cut by five per cent.
Jane, 31, a single mother of two from Dalston, said: “It’s getting ever harder to survive on my salary at the moment. Luxuries are totally out of the question.”
Guy Nicholson, cabinet member for regeneration, has denied claims that Hackney residents are struggling to get by.
“Hackney is currently one of London’s economic hotspots.
“Real growth and job creation is occurring.”
Joanna Mack, an Open University academic in the study of poverty, said: “These figures should be expected given our current low wage economy.
“Unless action is taken many families will continue to suffer, even at Christmas.”
