Economy and public finances £31bn difference remains between parties’ latest fiscal plans 18 March 2015 Living standards are higher or lower depending on the measure used; a welcome abolition of the ‘poll tax’ on self-employed; and rise in personal allowance poorly targeted The difference between the parties’ fiscal targets has narrowed – but could still be as much as £31bn by the end of the parliament – the independent think-think … Continued READ MORE
Labour market Strong employment recovery continues as vacancies climb to record high 18 March 2015 But falling unemployment is yet to feed into stronger pay growth The strong employment recovery has continued into 2015 and real earnings are picking up. Despite this, nominal wages remain flat and would need to more than double by the end of the year to meet the 3½ per cent level projected by the Bank … Continued READ MORE
Living standards Big regional and generational divide on living standards as typical incomes approach pre-downturn levels 12 March 2015 The great squeeze on living standards over the past seven years has been unevenly felt between generations and across different parts of the country, according to new analysis published today (Thursday) by the Resolution Foundation. The Resolution Foundation analysis finds that typical household incomes are rising and are finally set to return to their pre-downturn … Continued READ MORE
Welfare Universal Credit set to support more people into work – but could result in more subsidised short hours working 9 March 2015 Universal Credit (UC) will increase financial incentives for benefit recipients to enter work but could also make it more attractive for some to work short hours, according to a new report published today by the independent think-tank the Resolution Foundation. Credit where it’s due? – the interim report of the Resolution Foundation’s major inquiry into … Continued READ MORE
Welfare Almost a million care jobs in the UK pay below living wage 3 March 2015 Think-tank sets out a roadmap to a Living Wage for care workers Two thirds of all care jobs in the UK (930,000 in total) paid below the living wage last year, according to a new report published today (Tuesday) by independent think-tank the Resolution Foundation. The Resolution Foundation report, the culmination of a year-long investigation … Continued READ MORE
Welfare Two in three care jobs in the capital pay below the london living wage 25 February 2015 Nearly 100,000 care jobs in the capital paid below the London Living Wage last year – accounting for almost two-thirds (63 per cent) of the frontline care workforce – according to new analysis published today (Wednesday) by the independent think-tank the Resolution Foundation. The analysis, part of a UK-wide investigation into the pay and conditions … Continued READ MORE
Labour market Growth of zero-hours contracts during recovery shows they are more than just a recession-related phenomenon 25 February 2015 The increased use of zero-hours contracts (ZHCs) last year – even as the labour market recovered – suggests they are more than just a recession-related phenomenon and are likely to remain an ongoing feature of the labour market, the Resolution Foundation said today (Wednesday) in response to new figures published by the ONS. The ONS … Continued READ MORE
Labour market Minimum wage rises faster than inflation but still below its peak value 23 February 2015 3 per cent increase to £6.70 means the minimum wage is still below its previous peak This year’s rise in the National Minimum Wage means it still lags its peak value, analysis by the independent think-tank the Resolution Foundation shows. The above-inflation increase from £6.50 to £6.70 will be a boost to minimum wage earners … Continued READ MORE
Labour market Finance and construction leading the way as wage growth strengthens off back of falling inflation 18 February 2015 Jobs recovery continues as unemployment continues to fall Finance and construction enjoyed the joint fastest earnings growth as falling inflation strengthened the UK’s pay recovery, the Resolution Foundation said today (Wednesday) in response to the latest labour market statistics. Today’s figures – the fourth successive month of real wage growth – will be a relief … Continued READ MORE
Labour market· Welfare Failure to pay minimum wage leaves care workers £130m out of pocket 9 February 2015 Social care workers are losing out on £130 million a year due to pay rates that are in breach of the National Minimum Wage, according to new analysis published today (Monday) by the independent think-tank the Resolution Foundation. The analysis – part of a major investigation into improving pay in social care that will conclude … Continued READ MORE
Labour market Wage growth strengthening as unemployment and inflation fall but recovery of lost ground not expected before end of decade 21 January 2015 Falling inflation and a pick-up in nominal pay growth boosted earnings at the end of 2014, the Resolution Foundation said today (Wednesday) in response to the latest labour market figures. But it cautioned that there is still a long way to go before pay returns to its pre-downturn level. Regular pay growth (excluding bonuses) increased … Continued READ MORE
Living standards Household incomes to grow steadily next year but full recovery not expected until early 2016 27 December 2014 Household incomes are set to rise steadily next year but will not return to their pre-downturn level until early 2016, according to a new analysis published today (Saturday) by the independent think-tank the Resolution Foundation. The Resolution Foundation’s measure of household incomes, derived from the ONS national accounts, CPI inflation and OBR forecasts, show that … Continued READ MORE
Welfare Latest cut in universal credit will hold back the recovery for millions of low income working families 26 December 2014 Millions of lower income working families will find it harder to keep up with the cost of living because changes to Universal Credit (UC) will shrink the amount of earnings they can keep and erode the incentive to work, according to new analysis published today (Friday) from the independent think-tank Resolution Foundation. In his recent … Continued READ MORE
Labour market Real wage growth gaining momentum but no rebound in sight 17 December 2014 Real wage growth looks set to gather pace in the coming months, due in large part to very low inflation, but there is little sign of a long-overdue rebound in pay, the Resolution Foundation said today (Wednesday) in response to the latest labour market figures. Today’s figures show that regular pay growth (excluding bonuses) in … Continued READ MORE
Housing Strategies to cope with high housing costs are running out of road for modest income families in many parts of Britain 8 December 2014 The strategies available to help bring rent and mortgage costs within reach of modest income households – from sharing with other families to financial support from parents and moving into a lower quality property – often come at a high personal cost and look to be increasingly ineffective in many parts of the South of … Continued READ MORE
Economy and public finances Over £20bn of fiscal tightening needed from 2016 to meet coalition fiscal target 3 December 2014 Press release from the Resolution Foundation Wednesday 3 December – For immediate release OVER £20BN OF FISCAL TIGHTENING NEEDED FROM 2016 TO MEET COALITION FISCAL TARGET Resolution Foundation calls on parties to set out what their fiscal plans mean for taxation, welfare spending and the future shape of public services Deeper spending cuts, tax rises … Continued READ MORE
Welfare Main parties misrepresenting who will gain from tax cuts in next parliament 1 December 2014 Resolution Foundation calls for improved in-work support and alignment of National Insurance threshold with the Personal Allowance to support households on low to middle incomes The income tax cuts proposed to date by the main parties are set to largely bypass low to middle income Britain – the very households they claim to be helping … Continued READ MORE
Economy and public finances Political parties are failing to provide detail of deficit reduction plans for the next parliament 25 November 2014 The UK’s main political parties are yet to provide voters with adequate detail to assess the far reaching implications of their deficit reduction plans for the next parliament, according to a new report published today (Tuesday) by the independent think-tank the Resolution Foundation. With the coalition government expected to have delivered around half of its … Continued READ MORE
Labour market Tentative signs that wages are starting to turn a corner 12 November 2014 Regular pay growth outpaces inflation for first time since October 2009, but return to peak unlikely before the end of the decade Average weekly earnings growth of 1.3 per cent in the three months to September 2014 overtook CPI inflation (1.2 per cent) for the first time since 2009 and only the sixth time since … Continued READ MORE
Labour market One in four low paid workers escaped low pay over the last decade 11 November 2014 Part-time roles, having a sales job and working in hospitality reduce the chances of getting on at work One in four workers who were low paid a decade ago – and who have remained in employment for most of the subsequent decade – went on to completely escape and move onto higher pay, according to … Continued READ MORE
Labour market Continuing wage falls this year caused by rising youth employment and decline in managers 7 November 2014 A downward shift in the mix of occupations across the workforce towards lower-paying roles, along with a welcome return of younger and less experienced workers to the labour market, has prevented 2014 from being the year of the pay rise, according to a major new report published today (Friday) by the independent think-tank the Resolution … Continued READ MORE
Labour market Number of low-paid workers across Britain hits record high of over five million 27 October 2014 The proportion of employees in low-paid work across Britain increased from 21 to 22 per cent last year – to just over five million people – a Resolution Foundation report will reveal later this week. Low Pay Britain 2014, the Resolution Foundation’s annual audit of low pay across Britain, will find that the number of … Continued READ MORE
Labour market UK closes its six year ‘jobs gap’ – wage gap widens to eight per cent and could take another seven years to recover 15 October 2014 The latest rise in the employment rate means that the proportion of working age people in work across the UK is the same as its pre-downturn rate, ending the country’s six year ‘jobs gap’, the Resolution Foundation said today (Wednesday) in response to the latest ONS labour market statistics. However, continuing employment growth is running … Continued READ MORE
Labour market UK ‘jobs gap’ could close tomorrow 14 October 2014 Strong overall job performance with London and the North East surging ahead Official figures published tomorrow could show that the six year old UK ‘jobs gap’ – the difference between the pre-recession employment rate (73.02 per cent) and the current rate (72.97 per cent) – could finally close, according to a new analysis published today … Continued READ MORE
Labour market A record 1.2 million workers to benefit from first real-terms minimum wage rise for six years today 1 October 2014 A record 1.2 million workers to benefit from first real-terms minimum wage rise for six years today Record numbers ‘stuck’ on minimum wage The number of employees earning the national minimum wage has reached its highest level since its introduction 15 years ago, according to a new report published by independent think-tank the Resolution Foundation to mark the latest rise in the minimum wage today (Wednesday). Turning Point? – the minimum … Continued READ MORE
