Migration If fewer workers migrate to Britain, our own will need greater mobility Migration policy can complement an economic strategy, but it can’t stand in for one. 23 February 2022 by Kathleen Henehan One of the main benefits often cited of leaving the European Union was that the UK regained control of its borders, with the Prime Minister arguing that bringing in a more controlled migration regime would be key to enabling the UK to become a high wage economy. Others fear that the shift to a new, … Continued READ MORE
Ventures WorkerTech newsletter: February 2022 The latest update from Resolution Ventures 22 February 2022 by Emma Selinger Did you know that in 2019, 10% of the working population did some form of weekly gig work? Growth in this part of the labour market shines a light on the tension between the autonomy and flexibility that gig work offers, and the lack of income security, worker rights and safety net that are inherent to atypical … Continued READ MORE
A tightening labour market won’t spare workers a big pay squeeze in 2022 15 February 2022 by Nye Cominetti The latest labour market statistics from the ONS showed the labour market continuing to tighten despite the Omicron variant. There are tentative signs that this is starting to feed into stronger pay growth, but not by enough to keep pace with prices, meaning workers’ wages are being squeezed in real terms. The labour market … Continued READ MORE
Ventures Resolution Ventures invests in CareerEar 9 February 2022 by Emma Selinger We’re delighted to announce that Resolution Ventures has made an investment in CareerEar as part of the Workertech Partnership. The Workertech Partnership is backing a new wave of innovators who will harness technology to improve the pay, prospects, power, and progression of low-paid workers. CareerEar is an online platform helping career-seekers from underserved groups to … Continued READ MORE
Living standards· Inequality & poverty· Cities and regions· Economic growth Levelling-up: The Blair-Osborne Project 2 February 2022 by Lindsay Judge and Charlie McCurdy There have been many attempts in the past to reduce the gaps between richer and poorer parts of the UK. But despite progress on some measures (most notably employment and pay), geographic disparities remain substantial and stubborn, particularly when it comes to productivity. The gap in typical pay between Kensington and Chelsea and Scarborough has … Continued READ MORE
Ventures WorkerTech newsletter: January 2022 The latest update from Resolution Ventures 27 January 2022 by Emma Selinger Did you know that more than one in three people working in hospitality and retail would consider switching careers after the pandemic? According to a poll conducted by Learning and Work Institute for their 2021 report, Fast Forward, workers in these sectors are thinking about a new career path. This type of career switching is likely to increase due … Continued READ MORE
Labour market· Pay January’s labour market data confirms 2022 will be the year of the pay squeeze 18 January 2022 by Nye Cominetti The big news in this morning’s labour market stats was confirmation that pay is now falling in real terms – the pay squeeze will be one of the defining features of 2022. There is better news on jobs, with falling unemployment suggesting the labour market continues to tighten, but vacancies have fallen from their high … Continued READ MORE
Economy 2030· Net zero Working from home means bigger bills and highlights the need for better insulation ‘Running the boiler all day will see the average household use around 50 per cent more gas than if their home was unoccupied’ 10 January 2022 by Jonathan Marshall With the rise of the Covid variant Omicron, working from home is back. One of the many differences between this winter and last, however, is that working from home has come amid a cost of living crisis, with inflation recently hitting a 10-year high. It’s easy to see the spread of higher prices in day-to-day life, … Continued READ MORE
Living standards· Prices & consumption Spiralling energy prices will turn the UK’s cost-of-living crisis into a catastrophe A £300 one-off payment to millions of low-income households is the minimum needed to mitigate rising bill 10 January 2022 by Torsten Bell A cost of living catastrophe is what British families are facing in early 2022. The government has been understandably focused on Omicron but has woken up to this crisis, and is now discussing policy action to address it. But there is no magic bullet. What’s worse, this comes on the back of a decade of … Continued READ MORE
Business and ministers hold key to only new year resolutions that count 7 January 2022 by Torsten Bell It’s the week for making resolutions. And almost the only week when many freshly minted resolutions get kept, assuming Omicron doesn’t keep everyone out of the gym. There’s wide variation in how successfully we stick to our new promises, but the focus of them is more uniform: improving ourselves. Via ludicrous commitments to jog more … Continued READ MORE
Ventures One year of the WorkerTech Partnership: investing, connecting, growing 17 December 2021 by Emma Selinger The end of 2021 marks just over one year of the WorkerTech Partnership, allowing us to reflect on the progress we’ve made so far and our goals for the remainder of the programme. In this time, we’ve invested in five ventures all seeking to improve the world of work for low-paid and precarious workers, built … Continued READ MORE
The jobs market is healthy and doesn’t have a temperature, but pay packets are shrinking not surging 14 December 2021 by Hannah Slaughter Today’s labour market stats release should have marked a turning point in the post-pandemic labour market, as furlough came to an end and the economy adjusted to a period without restrictions. Instead, the data out this morning – which covers October and November – covers two months of relative normality between the end of furlough … Continued READ MORE
Ventures Influencing employers roundtable: helping employers improve the quality of work they offer 3 December 2021 by Emma Selinger Executive summary One of the ways for Workertech to have an impact on low-paid workers is by developing new tools and incentives that encourage businesses to improve the quality of employment. In October the Resolution Foundation brought together some leading organisations with experience of influencing employers via standards and accreditation to improve the quality of … Continued READ MORE
Ventures WorkerTech newsletter: November 2021 The latest update from Resolution Ventures 25 November 2021 by Emma Selinger Although this is the last newsletter of the year, it is jam-packed with opportunities and resources for WorkerTech founders, not least because applications for BGV’s Tech for Good programme starting in Spring 2022 opened yesterday! Resolution Ventures partners with BGV to back WorkerTech ventures through their 12-week Tech for Good programme. We want to help founders develop … Continued READ MORE
Ventures WorkerTech Dispatch Bringing you insights and tools for a fairer future of work 23 November 2021 Check out the WorkerTech Dispatch — a new publication to guide founders and everyone interested in shaping a fairer future of work. Brought to you by Bethnal Green Ventures and Resolution Ventures. READ MORE
Labour market Two-and-a-half cheers for the UK’s post-furlough labour market 16 November 2021 by Greg Thwaites There is plenty to celebrate in today’s labour market data. As the end of the Coronavirus Job Retention Scheme approached in September, we saw rising employment (up to 75.4 per cent), falling unemployment (down to 4.3 per cent – see Figure 1 for both) and a record number of people moving into new jobs – … Continued READ MORE
Ventures Resolution Ventures invests in Breakroom 16 November 2021 by Emma Selinger We’re delighted to announce that Resolution Ventures has made a follow-on investment in their most recent £4.9 million funding round as part of the Workertech Partnership. This investment continues the relationship with Breakroom first established via the Resolution Trust in 2019 when co-founders Anna Maybank, James Weiner and Tom Taylor wanted to prove that good … Continued READ MORE
The Black Economists Network: what it is, and why we need it 11 November 2021 by Felicia Odamtten This November marks the two-year anniversary of the launch of The Black Economists Network (TBEN[1]), an organisation founded by myself that strives to challenge the lack of diversity in economics by connecting and supporting Black people in the field as well as working with other organisations to improve their diversity strategies. To mark this anniversary, … Continued READ MORE
We’d all better get used to it, the direction of travel on taxes is upwards 4 November 2021 by Torsten Bell Taxes are going up. At least that’s the government’s official plan. Tax is set to exceed 36 per cent of GDP in the middle of this decade, according to the forecasts accompanying last week’s budget. That would be the highest since 1950, amounting to a £3,000 increase per household since Boris Johnson became prime minister. The … Continued READ MORE
There is no simple story of migrants down, wages up The UK needs a post-Brexit, post-Covid economic strategy, not another argument about immigration 2 November 2021 by Torsten Bell We ask a lot of migrants. They make up almost one-in-five of our workforce, run many of our biggest businesses, and disproportionately clean our homes, care for our sick, and carry ever-growing online purchases to our doors. If that wasn’t enough, we’re now asking them to solve a rather big problem: the UK’s absence of … Continued READ MORE
Budgets & fiscal events This Budget will leave the poorest households hundreds of pounds a year worse off Families across Britain should expect a bumpy ride over the next six months 2 November 2021 by Mike Brewer Having spent the first 18 months in the job delivering Covid crisis fiscal statements, you can understand why there was a celebratory vibe to the Chancellor’s first “post-crisis” Budget today. The Government’s official economic watchdog, the OBR, came to the party laden with gifts – including a major upgrade to economic growth and a £141 … Continued READ MORE
Rishi Sunak’s serves up Boris Budget with higher taxes and spending 2 November 2021 by Torsten Bell The big economic backdrop to today’s Budget was growth and spending up, but living standards are stagnating – yet again. We heard a lot from the Chancellor on these first two trends as he delivered a ‘Boris Budget’ and spent half of the £141billion borrowing windfall handed down by the Office for Budget Responsibility. Much … Continued READ MORE
Ventures Workertech newsletter: October 2021 The latest update from Resolution Ventures 28 October 2021 by Emma Selinger This week’s Budget and next week’s COP26 have led to a growing conversation around skills, wages and the green economy. Yet there is still a big shift needed to answer key questions and turn policy into practice. How do we define a green job or skill? How can we use data and technology to support green jobs? What does a … Continued READ MORE
Welfare Boris Johnson is wrong to downplay the impact on families from the Universal Credit cut Rising inflation and surging energy bills come as the government takes £20 a week off families in the Universal Credit cut 6 October 2021 by Torsten Bell Today was a big deal for Boris Johnson who delivered his speech to the Conservative Party Conference. But it’s an even bigger day for low-and-middle income households across Britain, for all the wrong reasons. As the PM stepped up onto stage, their income took a step down with Universal Credit cut by £20 a week. … Continued READ MORE
Intergenerational Centre Property tax would bridge the wealth gap between ages 6 October 2021 by David Willetts It is more than ten years since I published The Pinch, setting out how huge intergenerational injustices were opening up across Britain. Or to use the more provocative wording on the cover, how baby boomers took their children’s future — and why they should give it back. The issue has risen up the agenda in recent … Continued READ MORE
