The 20th century growth story that has seen each generation enjoy higher incomes than the one before them has ground to a halt in nearly all advanced economies in the 21st century. However, the UK stands out for having experienced a ‘boom and bust’ cycle where strong income and housing gains for post-war generations have failed to … Continued

A surge in consumer credit growth and the prospect of faster-than-expected interest rate rises have recently prompted concerns about the possibility of a fresh debt-bust in the UK, but it is the continuing overhang from the last crisis that is of more concern, according to a new Resolution Foundation report published today (Monday). With levels … Continued

Tight labour market set to pose a challenge to firms using agency workers for much more than filling staffing gaps While the majority of firms use agency workers to plug short term gaps, a significant minority view them as a core part of their business model, according to new Resolution Foundation research published today (Saturday). … Continued

  Commenting on the government’s response to the Taylor Review of Modern Working Practices, published today (Wednesday), Torsten Bell, Director of the Resolution Foundation, said: “The government is right to be taking concrete measures to boost enforcement of our labour market rules and to increase the fines for employers who break them too often. In … Continued

Typical wealth across Britain increased by 13 per cent in real terms in the two years to 2014-16, but wealth inequality remains unacceptably high, the Resolution Foundation said in response to the ONS Wealth and Assets Survey today (Thursday). Over a period in which typical household incomes have grown by just 5 per cent, today’s … Continued

  The number of apprenticeship starts in the crucial period of August to October 2017 fell to 114,400 – down 30 per cent on the year before. However this represents progress on the previous quarter – the first since the levy came into effect – when starts were down 60 per cent compared to the … Continued

A 100,000 increase in employment means Britain has returned to its record high employment rate, but the labour market looks increasingly volatile as employment growth oscillates month by month and pay continues to fall despite a record level of unfilled job vacancies, the Resolution Foundation said today in response to today’s labour market statistics. The … Continued

  The estimated overall spending on tax reliefs increased to a record £155bn in the last financial year (2017-18), according to Resolution Foundation analysis of the annual HMRC Principal Tax Relief Statistics published today (Tuesday). Adam Corlett, Senior Economic Analyst at the Resolution Foundation, said: “Spending on tax reliefs has grown to a record £155bn … Continued

  Lower income families saw the fastest consumption growth Household spending increased more rapidly than income growth in the last financial year (2016-17), with the biggest rises taking place among lower income households, the Resolution Foundation said today (Thursday) in response to the latest ONS Family Spending figures. The ONS figures show that households increased … Continued

  More men in lower paid roles are working fewer hours or part-time, while higher paid men are working more. These changes have led to a ‘hollowing out’ of the male labour force, with fewer middle earners, according to a new report published today (Monday) by the Resolution Foundation. Counting the hours finds that this … Continued

Typical disposable incomes for non-retired households reached a new high last year off the back of strong employment growth and low inflation, the Resolution Foundation said today (Wednesday) in response to the latest ONS income and inequality data, which refer to the financial year 2016-17. But the depth of the post-crisis squeeze means that typical … Continued

  Around 300,000 unemployed or very low earners in Britain are missing out on much needed financial support from the state worth at least £73 a week, according to a new report published today (Tuesday) by the Resolution Foundation. Falling through the cracks examines official unemployment statistics and claimant count data to see how our … Continued

Millennials will enjoy the largest and most wide-reaching ‘inheritance boom’ of any post-war generation but it will be too late and too unequally shared to solve the generation’s home ownership and wealth inequality woes, according to a major new report published today (Saturday) by the Resolution Foundation. The report – the 13th for the Resolution … Continued

Britain’s pay squeeze is set to get worse before it gets better next year, and public expectations appear to be moving in line with experts’ pessimistic predictions, the Resolution Foundation said today (Wednesday) in its latest Earnings Outlook. The outlook – supported by the Nuffield Foundation – uses ONS and OBR data to forecast that … Continued

Agency workers lost £400 million this year from being paid less than their employee peers The pay gap costs the average agency admin worker £990 a year The agency workforce is losing out to a tune of £400 million a year because they are paid less than their employee equivalents, new analysis published today [Thursday] … Continued

  Commenting on the Bank of England’s NMG survey from its Quarterly Bulletin published today (Friday), which found increasing levels of financial distress among households in 2017 and more saying they expect their personal finance situation to deteriorate in 2018 than to improve, Matt Whittaker, Chief Economist at the Resolution Foundation, said: “Today’s survey highlights … Continued

  The latest fall in employment suggests that Britain’s remarkable jobs boom may finally be coming to an end, the Resolution Foundation said today (Wednesday) in response to the latest labour market data. After a remarkable jobs boom dating back to early 2012, employment has plateaued at close to a record high of 75 per … Continued

    One in ten workers did paid overtime in Britain in the last year but only a fifth of them got at least a ‘time and a half’ pay premium for those hours, according to a new report published today (Tuesday) by the Resolution Foundation. Paid overtime is a key part of the labour … Continued

    A drop of over 100,000 in net migration over the last year shows that Britain’s labour market is already be reshaped before we leave the EU, and businesses need to start adjusting now to a new era of lower migration, the Resolution Foundation said today (Thursday) in response to the latest migration figures. … Continued

  Millennials are on course to defy widespread pessimism about their retirement prospects and enjoy similar levels of retirement living standards to pensioners today, according to a new report published today (Monday) by the Resolution Foundation. As good as it gets? – the 12th report of the Resolution Foundation’s ongoing Intergenerational Commission – looks at … Continued

  Commenting on the publication of the government’s Industrial Strategy White Paper today, Resolution Foundation Executive Chair David Willetts said: “Given the grim outlook for living standards we heard at the Budget last week, today’s White Paper has the right focus on improving the nation’s productivity, and with it people’s earning power. “A key new … Continued

  Britain is on course for the longest period of falling living standards since records began in the 1950s, with the current crunch forecast to last longer than the post-crisis income squeeze, the Resolution Foundation said today (Thursday) in its overnight Budget analysis. The report Freshly Squeezed highlights the unprecedented scale of the economic downgrade … Continued

Chancellor makes housing a welcome centrepiece of his Budget The Chancellor has delivered the first post-election giveaway Budget this century despite a grim outlook for the economy and public finances, driven by the Office for Budget Responsibility’s biggest ever productivity downgrade. That downgrade has huge implications for family finances over the remainder of the parliament, … Continued

Britain’s jobs market showed potential signs of losing momentum after years of impressive growth while the recent pay squeeze deepened further, the Resolution Foundation said today (Wednesday) in response to the latest labour market figures. Today’s figures show that the UK employment rate dipped slightly from its recent peak, with recent falls concentrated among the … Continued