Cost of Britain’s ageing society by 2060 will increase by equivalent of a 4p income tax rise without further action The UK’s non-working population will start to grow faster than its workforce for the first time outside of economic downturns since the early 80s this year, according to a new report published today (Tuesday) by … Continued

  RF warns that new living standards divides between generations are growing Inequality fell sharply last year (2015-16) due to strong income growth for retired households and the poorest 40 per cent, but growth among middle income working age households remains weak, the Resolution Foundation said in response to new ONS figures today (Tuesday). Household … Continued

  The gender pay gap for millennials in their 20s has halved in a generation to just 5 per cent, but much of that progress looks set to be undone with early signs showing that the gender pay gap continues to escalate as women enter their 30s and 40s. This suggests that millennial women will … Continued

  Workers on zero-hours contracts (ZHCs) face a ‘precarious pay penalty’ of almost seven per cent  – or £1,000 a year for a typical worker – compared to similar workers doing similar jobs, according to new analysis published today (Friday) by the Resolution Foundation. The Foundation’s analysis is the first to pinpoint a specific ‘precarious … Continued

Merseyside experienced the fastest growth in economic output (GVA per head) of any major city in 2015, but all cities bar London are still worse off than they were before the crisis – highlighting the challenge facing Britain’s new Metro Mayors, the Resolution Foundation said today (Thursday) in response to the latest ONS regional GVA … Continued

Employment and pay growth have been flat for the last six months, but change is coming next year as rising prices start to eat into pay packets, the Resolution Foundation said today (Wednesday) in response to the latest ONS labour market figures. The headline employment rate has now plateaued around record highs reached in mid-2016, … Continued

A poor employment performance stretching back decades is turning the West Midlands city region into Britain’s biggest employment blackspot, and played a key role in the region’s vote to leave the EU, according to a new report published today (Monday) by the independent think-tank the Resolution Foundation. As the area prepares to elect its first … Continued

The forgotten face of non-traditional employment hit by average pay penalty of £430 The number of agency workers has grown by 30 per cent since 2011, and now stands at 865,000, a new report by the independent think-tank Resolution Foundation reveals today (Monday) as it launches a major 18-month investigation into agency work. The report … Continued

    Greater Manchester’s impressive leadership on the national devolution agenda should now be used to tackle the stark living standards inequalities between local areas across the city region, according to a new report published today (Tuesday) by the independent think-tank the Resolution Foundation. The Foundation’s report looks at the city region’s successes and failures … Continued

  Lower earnings growth, higher inflation and ongoing welfare cuts detailed in the Autumn Statement mean that a renewed income squeeze is set to be even more severe than that seen in the last parliament, according to a new report published today (Thursday) by the Resolution Foundation analysing the impact of the Autumn Statement 2016. … Continued

Philip Hammond chooses not to support just about managing families who face a double whammy of lower earnings and benefit cuts Slower growth and higher inflation will mean higher borrowing and a parliament of falling living standards for millions – with the Chancellor missing an opportunity to provide much-needed support for just managing families – … Continued

  UK unemployment rate falls below US as more people stop actively looking for work The UK labour market has plateaued, though there are a few tentative signs of weakening jobs growth, the Resolution Foundation said today (Wednesday) in response to the latest ONS labour market statistics. The employment rate has matched its record high … Continued

Unaffordable, unfair and unwise tax cuts have prevented the government from balancing the books Chancellor should use Autumn Statement to rethink tax strategy, halting cuts to corporation tax and increases in income tax thresholds Tax giveaways worth £32bn this year have prevented the government from meeting its fiscal targets, according to new analysis published today … Continued

Real pay growth strongest in over 5 years, due to pick-up in nominal pay and low inflation in 2016   But still a long way to go, and prospects for lower pay growth / higher inflation mean this year’s growth unlikely to be repeated soon     Hourly pay in 2016 was still 88p (6.8 … Continued

Low paid, part-time workers and women enjoy the biggest pay rises due to National Living Wage Real hourly pay grew at its fastest rate since 2009 off the back of historically low inflation – but the weak outlook for pay means this pace of growth may not be be repeated this parliament, the Resolution Foundation … Continued

The Chancellor is facing a sharp deterioration in the public finances in his Autumn Statement, but a fiscal ‘reset’ would allow him to boost investment spending and increase support for ‘just managing families’, according to a new report published today (Wednesday) by the Resolution Foundation. The report, Pressing the reset button, comes with the Autumn … Continued

The initial post-referendum labour market figures show very little change from the period running up to it, with employment picture remaining strong but pay growth continuing to disappoint, the Resolution Foundation said today (Wednesday) in response to the latest labour market statistics. The figures showed that the employment rate remained at a record high, while … Continued

  The dramatic shift in self-employment over the last two decades – including the decline in full-time work and the falling share of self-employed business owners who have staff of their own – has been a critical factor in a 20-year stagnation in typical earnings, according to a new report published today (Tuesday) by the … Continued

  Weak pay growth forecasts post-Brexit set to knock 10p off the National Living Wage next year The National Living Wage (NLW) is likely to rise to around £7.50 an hour next year, 10p lower than expected in March because of the weaker outlook for pay in the wake of the Brexit vote, according to … Continued

Questions of fairness between the generations are currently high on the agenda, and for good reason. Today’s younger generations are finding it more difficult to get on the housing ladder, experience slower pay progression and much lower levels of pension saving in their jobs, and can expect less from the welfare state when they fall … Continued

  Responding to the Prime Ministers’ speech to the Conservative Party Conference today (Wednesday), Torsten Bell, Director of the Resolution Foundation, said: “Theresa May’s speech focused squarely on the right question, how to help Britain’s just managing families who have lost out in recent decades. For those families change has indeed got to come. “But … Continued

PM right to focus on families put under pressure by weak income growth and rising costs An unprecedented pay squeeze, rising housing costs and the added financial pressure of having children mean that the typical incomes of ‘just managing’ families are lower than they were over a decade ago – highlighting why the new Prime … Continued

Among the many things that feel different in the post-referendum world, there is an unusual air of anticipation surrounding what would previously have been considered relatively underwhelming statistical releases. Today we were treated to a quartet of such publications. On the face of it they appear to point in different directions, allowing commentators on both … Continued

  How these sentiments converge will prove key to UK’s medium-term economic prospects, says RF Commenting on the latest economic assessments published today (Wednesday) by the ONS, Bank of England and OECD, Matt Whittaker, Chief Economist at the Resolution Foundation, said: “The range of expert economic assessments published today – while appearing to point in … Continued

  Further slowing of wage recovery highlights need to tackle major problems on pay The UK’s record employment performance has continued through the summer, with no sign yet of any ‘Brexit effect’, the Resolution Foundation said today (Wednesday) in response to the latest ONS labour market figures. The Foundation notes that any ‘Brexit effect’ was … Continued