The Chancellor faces a series of tough economic choices this Autumn – including whether to press ahead with the biggest increase in the state pension in a generation while delivering the biggest overnight benefit cut in history by cutting Universal Credit (UC) by £20 a week – according to new Resolution Foundation research published today … Continued

Hiring is set to remain strong as the furlough scheme comes to an end, but the UK is still set for a fresh rise in in unemployment, according to new Resolution Foundation research published today (Sunday). The Foundation’s latest Labour Market Outlook examines what the end of the Job Retention Scheme could mean for the … Continued

The proportion of young adults claiming income-related benefits increased from 9 to 15 per cent during the Covid crisis – a larger increase than any other age group – helping to reverse a decades-long fall in the share of people receiving benefits and highlighting the vital role Universal Credit (UC) has played during the pandemic, … Continued

While many have suggested the stamp duty holiday was the main force behind the pandemic-defying rise in house prices across the past year, new Resolution Foundation research published today (Saturday) suggests its role has been overstated, with other factors playing an equal, if not more important, role. The Foundation’s quarterly Housing Outlook examines the recent … Continued

Employment continued to rise in July, with payrolled employment levels now up 182,000 on the month, and with hiring at a record level – a welcome sign that the labour market recovery is continuing, the Resolution Foundation said today (Tuesday) in response to the latest HMRC data. Record vacancies were met with record hiring, with … Continued

Higher-wage areas of the UK have experienced significantly larger job falls during the pandemic than lower-wage areas, according to new Resolution Foundation research published today (Thursday). Levelling up and down Britain – the latest report for The Economy 2030 Inquiry – a collaboration between the Resolution Foundation and the Centre for Economic Performance at the … Continued

Please see below the Resolution Foundation’s response to this morning’s GDP figures. James Smith, Research Director at the Resolution Foundation, said: “The welcome news from today’s GDP release is that the recovery continued in June. This is particularly good news after growth slowed in April and May. “With GDP still 2.2 per cent below its … Continued

Today’s announcement of a hike in the energy price cap is bad news for low-income families across the UK, many of whom are still suffering from the economic impact of the Covid-19 crisis. With over one-in-five families on Universal Credit already falling behind on essential bills, low-income families face a perfect storm of higher prices … Continued

The number of furloughed employees fell below two million for the first time at the end of June, ahead of the scheme being wound down over the summer, the Resolution Foundation said today (Thursday) in response to the latest HMRC Coronavirus Job Retention Scheme data. The number of furloughed employees fell by 590,000 during June … Continued

Press release from the Resolution Foundation The boom in ‘staycation’ holidays this Summer will provide some much-needed respite for the UK’s travel and hospitality sectors, with areas such as West Wales, Devon, Cornwall and the Lake District benefitting most – but cities such as London and Manchester losing out – according to new research published … Continued

The UK’s jobs recovery has continued into June, with four regions of the UK now surpassing their pre-crisis payrolled employment levels. However, some of these workers will still be on furlough – highlighting how the recovery remains far from complete – the Resolution Foundation said today in response to the latest ONS labour market data. … Continued

The Covid-19 crisis has been marked by rising levels of wealth – the first time this has happened during a recession in 70 years – and widening wealth gaps as middle- and high-wealth households have amassed savings and benefitted from rising house prices far more than those with little or no wealth to begin with, … Continued

Commenting on the latest GDP figures for May published today (Friday) by the ONS, James Smith, Research Director at the Resolution Foundation, said: “The economy continued to bounce back in May following the deep lockdown freeze at the start of the year. “But with the economy still 3.1 per cent weaker than pre-crisis – a … Continued

The Resolution Foundation response to the Government’s announcement today that they are going ahead with the £20 a week cut to Universal Credit from this October Torsten Bell, Chief Executive of the Resolution Foundation, said: “The decision to cut Universal Credit by £20 a week this October will cut the incomes of the poorest families … Continued

The mental health impact of the pandemic could have lasting repercussions for young people as they take their first steps on the career ladder, with over one-in-four 18-24-year olds afraid that poor mental health will affect their ability to find a job in future, according to new research published today (Monday) by the Resolution Foundation. … Continued

The number of employees on the Coronavirus Job Retention Scheme (JRS) fell rapidly during May as the economy reopened, but far more people remain furloughed than previous official data has suggested, while older workers are disproportionately likely to remain ‘parked’ on furlough for long periods, the Resolution Foundation said today (Thursday) in response to the … Continued

Over one-in-four workers aged 55-64 who were fully furloughed during the recent lockdown remained so in May despite the reopening of the economy, and now face a higher risk of unemployment as the furlough scheme is phased out from today (Thursday), according to new Resolution Foundation research. The Foundation’s annual Living Standards Audit 2021 examines … Continued

Employees are coming off furlough at a rapid pace but the UK labour market is lukewarm rather than hot, as total hours worked remain well below pre-crisis levels and most vacancies are still relatively easy to fill despite the focus on shortages in some sectors, according to new Resolution Foundation research published today (Monday). The … Continued

The costs of buying a typical first-time property with a mortgage have risen by two-thirds over the past half-century, with those born in the late 1980s experiencing the highest costs of all, as falling interest payments have failed to offset rapidly rising house prices, according to new Resolution Foundation research published today (Saturday). The report … Continued

Inflation is on course to rise above four per cent in the coming months – reducing real average household incomes by £700. And while monetary policy makers at the Bank of England should ‘look through’ this temporary inflation spike, fiscal policy makers should act to protect family incomes and strengthen the recovery, according to new … Continued

Overall furlough rates dropped to their lowest level since the start of the pandemic in late May, but a significant proportion of employees remain out of work even as firms report staff shortages, and the Government prepares to start phasing out the Job Retention Scheme (JRS) in just two weeks’ time, the Resolution Foundation said … Continued

Commenting on the latest inflation statistics published today (Wednesday) by the ONS, which show that CPI inflation increased to 2.1 per cent in May, up from just 0.3 per cent in November – the fastest six month rise in inflation since the collapse of sterling in the aftermath of the financial crisis , Jack Leslie, … Continued

Payrolled employment increased by almost 200,000 in May as the country experienced a grand hiring surge. However, the UK still has a ‘Covid employment gap’ of 2.8 million workers to close before the recovery is complete, the Resolution Foundation said in response to the latest ONS labour market statistics today (Tuesday). The latest data shows … Continued

Women’s average working hours have taken a far smaller hit during the pandemic than men’s, with women who do not have children now working longer hours than ever before – in marked contrast to predictions of a ‘shecession’ at the start of the pandemic, according to new research published today (Monday) by the Resolution Foundation. … Continued

Responding to the Government’s announcement of a new ‘workers’ watchdog’ today (Tuesday), Lindsay Judge, Research Director of the Resolution Foundation, said: “Labour market rules are only effective if they are enforced properly, and the current fragmented system often leaves workers most in need to support to fall through the cracks. “A new Single Enforcement Body … Continued