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
Housing Close to 1.6 million UK households are ‘housing-pinched’ – spending more than half their disposable income on monthly rent or mortgage payments 15 August 2014 Close to 1.6 million UK households – the housing pinched – are spending more than half their disposable income on the ongoing costs of housing each month, according to new analysis from the independent think tank the Resolution Foundation published today. Of the 1.6 million housing pinched, retired households and working age households in which … Continued READ MORE
Housing Policy overhaul required to help insulate Britain’s heavily-indebted households from rising interest rates 24 July 2014 Dealing with the household debt hangover must be priority for next Parliament as the end of ‘holiday period’ for borrowing costs draws nearer A comprehensive plan to help tightly-stretched households manage the transition back to a world of more normal interest rates is laid out today in a wide-ranging report … Continued READ MORE
Labour market Earnings have fallen at least 20 per cent further than official figures suggest, finds new research 9 July 2014 Official figures may underestimate by more than 20 per cent how far earnings have fallen since the economic downturn but are also likely to understate their recovery in years to come because they exclude the UK’s growing self-employed workforce. The new research by the Resolution Foundation, an independent think-tank, calls for a fresh approach to … Continued READ MORE
Labour market Employment soars, wages fall (again) 11 June 2014 Very strong employment growth has not prevented a fall in average wages, official figures from the Office for National Statistics show today. In the three months to April, total average weekly earnings (including bonuses) rose by 0.7 per cent compared to the same period a year ago. Regular average weekly earnings (excluding bonuses) rose by … Continued READ MORE
Housing One in 10 mortgagors at risk of being trapped in ‘unaffordable’ borrowing finds new study 20 May 2014 One in ten of today’s mortgagors risk being imprisoned by borrowing deals which are likely to make their repayments unaffordable as interest rates rise over the next four years according to new research from independent think tank the Resolution Foundation. The study suggests that around 770,000 households fall into both of two potentially problematic categories … Continued READ MORE
Labour market Self-employed see a plunge in earnings even as their numbers surge 6 May 2014 The typical self-employed worker earns 40 per cent less than the typical employee reveals a new report which provides the most in-depth picture yet of the UK’s growing self-employed workforce and how it is changing. The study by independent think tank the Resolution Foundation shows a dramatic fall in the weekly earnings of the self-employed … Continued READ MORE
Labour market New study shows significant numbers of zero-hours staff want more work 30 April 2014 Workers on zero-hours contracts are much more likely to be underemployed, to be looking for another job, and to be without union membership than staff on conventional contracts, shows new analysis published today by the Resolution Foundation, an independent think-tank. The research shows that almost three in 10 of all those on zero-hours contracts (29 … Continued READ MORE
Labour market Break even moment for wages is positive news – though long catch-up lies ahead 16 April 2014 Today’s official figures from the ONS show average earnings have caught up with the rate of CPI inflation, with both at 1.7%, for the first time since 2010. This is a significant moment given the unprecedented squeeze of recent years and will come as a relief to many workers. Amid the good news there are … Continued READ MORE
Labour market 450,000 newly self-employed would rather be employees 15 April 2014 Reluctant recruits make up a quarter of those becoming self-employed since the recession but clear majority still prefer being their own boss A quarter of those who started out as self-employed in the last five years would prefer to be employees, suggests new research from independent think tank the Resolution Foundation, conducted by Ipsos MORI. … Continued READ MORE
Labour market Workers should get the right to move off zero-hours contracts after a year 25 March 2014 Workers who have been on a zero-hours contract for at least 12 months should be given the legal right to switch to a fixed hours contract if they’ve worked regular shifts during that time, recommends a new report into the controversial employment practice. The report from independent think tank the Resolution Foundation is the first … Continued READ MORE
Labour market Slow growth in wages and a recovery based on running down savings is cause for concern 19 March 2014 Latest projections suggest that wages of the typical worker will broadly flat-line over the next four years despite official projections of stronger economic growth released alongside the Budget. Today’s OBR projections have average pay recovering to its pre-crisis level by 2018. (This projection is based on the mean and uses the CPI measure of inflation). … Continued READ MORE
Labour market Major reform of minimum wage recommended by policy’s key architect 12 March 2014 The UK should undertake major reform of the minimum wage to help tackle the pervasive problem of low pay argues one of the policy’s key architects. The call comes in the final report of the Resolution Foundation’s review of the future of the minimum wage, chaired by Professor Sir George Bain the founding chairman of … Continued READ MORE
