Living standards The cost of living crisis is going to hurt To tackle it, we will also need to address the stagnation which has bedevilled the UK economy for years 3 May 2022 by Torsten Bell Britain is at last stepping out of the pandemic that has dominated the last two years – only to step straight into a huge cost of living crisis that will be the defining economic feature of what remains of this parliament. The lives of those at risk from the unfolding nightmare in Ukraine are our … Continued READ MORE
Ventures WorkerTech newsletter: April 2022 The latest update from Resolution Ventures 28 April 2022 by Emma Selinger The World Economic Forum predicts that 40% of new job opportunities will be created in the care sector by 2023. While this presents a significant opportunity for workers to transition from other shrinking sectors, we need to make sure that the jobs available are good ones with fair pay and conditions. In this edition of the … Continued READ MORE
Ventures WorkerTech newsletter: March 2022 The latest update from Resolution Ventures 31 March 2022 by Emma Selinger Thanks to Well_Lab, a collaboration between Wellcome Trust and Brink, yesterday I joined experts in work, employment, health and wellbeing at a round table to share ideas on what works and what doesn’t to improve worker wellbeing. While no one had a one-size-fits all answer, it was inspiring to hear of so many initiatives to support people experiencing wellbeing issues at … Continued READ MORE
Ventures Resolution Ventures invests in Ikigai Data 21 March 2022 by Emma Selinger We’re pleased to welcome Ikigai Data to Resolution Ventures’ social investment portfolio 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. Ikigai Data is a careers data and insights company that works with … Continued READ MORE
Labour market Labour market tight, household budgets tighter 15 March 2022 by Greg Thwaites Tuesday’s labour market data showed that many of the trends of recent months remain in play. The labour market tightened further, participation continued to disappoint and real pay packets kept falling, while nominal pay growth hasn’t yet shown clear signs of accelerating. The labour market is tight The labour market is now very tight on … Continued READ MORE
Labour market· Skills Good headline news on NEETs hides a worrying rise in economically inactive young men 24 February 2022 by Louise Murphy and Kathleen Henehan This morning the ONS published the latest figures outlining the number of young people who are not in education, employment or training (NEET). Overall 692,000 16-24-year-olds (10.2 per cent), including 642,000 18-24-year-olds (12 per cent), found themselves NEET at the end of last year. On the surface, this is worth celebrating: the number and proportion … Continued READ MORE
Economy 2030 Forget all you’ve heard about working life in modern Britain. It’s wrong The myths perpetrated about modern employment have left us perilously ill prepared for true economic change 23 February 2022 by Torsten Bell Economic change is speeding up. Technology means that industries are shrinking and growing faster than ever. The young change jobs incessantly while firms fire at will, ending the “job for life” enjoyed by previous generations. Everyone moves around the country for work these days, vacating poorer parts of Britain and hollowing out communities. All of … Continued READ MORE
Living standards· Prices & consumption· Inequality & poverty Inflation will hit low and middle-income families hardest 23 February 2022 by Torsten Bell This year is not being kind to the reputation of Britain’s institutions. Two months in, the police are already questioning the country’s elected — and unelected — leaders. But the cost-of-living catastrophe that will dominate 2022 will turn the heat on to our economic institutions. They are unlikely to emerge unscathed. Prices rose 5.5 per … Continued READ MORE
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
