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
Welfare Poorest working families will miss out on £1,000 a year because of unbalanced childcare support 2 March 2014 Poorer working families stand to miss out on as much as £1,000 a year because they are being excluded from a more generous package of childcare support being finalised by the government in the next few weeks. New analysis from independent think tank the Resolution Foundation shows that, among those families who will qualify for … Continued READ MORE
Labour market “Time has come to reform the minimum wage” says policy’s founder 21 February 2014 The man who implemented the national minimum wage in the UK warned today that it is no longer strong enough to tackle the country’s low pay problems. The policy will need to be reformed if it is to repeat the successes of its first 15 years. Professor Sir George Bain, the founding chair of the … Continued READ MORE
Labour market Wait for wage growth goes on (and on…) 19 February 2014 New figures from the Office for National Statistics show another fall in real wages despite increasingly positive news in the wider economy. The new data reveals that Average Weekly Earnings (excluding bonuses) in Britain were £450 a week in December 2013 and grew by just 1.0 per cent in the year (comparing October to December … Continued READ MORE
Living standards Household incomes will start rising in 2015 – but painfully slow recovery means many years before losses are restored 11 February 2014 Household incomes are set to start rising again in 2015 after six years of decline according to a new report from the Resolution Foundation. The findings come in a detailed and authoritative assessment of the state of living standards in Britain. The report from the independent think tank also finds that growth in disposable income … Continued READ MORE
Labour market Two in three mothers say high cost of childcare is a barrier to working more 23 January 2014 Around two-thirds of mothers say the cost of childcare is an obstacle to them working more, reveals a new report from independent think tank the Resolution Foundation. In a survey conducted by the Resolution Foundation and Mumsnet for the report, 67 per cent of mothers in work and 64 per cent of those not working … Continued READ MORE
Welfare Don’t mis-sell tax cuts to millions of working families, urges Resolution Foundation 7 January 2014 Politicians weighing up tax cuts in the approach to the next general election are at risk of mis-selling their policies by failing to disclose how little of any proposed giveaway in the next Parliament will actually benefit millions of working households on universal credit. Analysis by the Resolution Foundation reveals for the first time how … Continued READ MORE
Welfare Poorer families left “running uphill” as Universal Credit penalty holds them back from recovery 4 January 2014 Some families will need to earn an extra £1,000 a year just to stand still Millions of poorer working families will find it harder for their incomes to keep up with inflation, even after recovery kicks in, because of changes to Universal Credit which will shrink the amount of earnings they can keep, shows new … Continued READ MORE
Welfare New council tax benefit system set to be a tax on the workless and working poor 3 January 2014 Two in three local authorities in England have plans that mean from April they may demand council tax payments from working-age households which are currently exempt, analysis from the New Policy Institute and the Resolution Foundation shows. Following the government’s decision to scrap council tax benefit, 326 councils in England must decide by January how … Continued READ MORE
Housing Up to 2 million UK families face perilous debts by 2018 29 December 2013 Britain faces the mounting prospect of a household debt crisis as analysis from independent think tank the Resolution Foundation suggests that a least a million British families, and possibly as many as 2 million, could be spending more than half their disposable income on repayments by 2018 The study uses the latest five-year growth projections … Continued READ MORE
Welfare £600 million raid on Universal Credit will leave millions of working families worse off 13 December 2013 A £600m reduction in support will leave millions of working families worse off by 2017 by reducing the amount they can earn before their Universal Credit payment is withdrawn, according to new analysis from independent think tank the Resolution Foundation. The Office for Budget Responsibility estimates that changes to Universal Credit, announced in the Autumn … Continued READ MORE
Labour market Weak wage growth poses questions over stability of recovery 5 December 2013 The first full year when average wages are expected to recover to pre-recession levels was pushed back from 2017 to 2018 today by the government’s official economic forecasts, despite strong and very welcome growth in employment. As a result, the Resolution Foundation calculates that the median wage – the pay of a typical worker – … Continued READ MORE
Labour market Double blow of falling wages and high unemployment reveals weakness of youth labour market 4 December 2013 The pay of workers in their 20s has tumbled by almost 12 per cent since the peak of the recession in 2009, part of an almost unprecedented squeeze on both the wages and employment chances of young adults. New analysis of official wage data carried out by independent think-tank the Resolution Foundation lays bare the … Continued READ MORE
Labour market Almost three in four low-paid workers unable to climb the earnings ladder 27 November 2013 Britain’s dismal pay mobility means only a minority manage to earn their way up from the bottom Almost three-quarters of Britain’s workers who were on low pay in 2002 failed to escape from it over the course of the following decade, reveals a comprehensive study of who is able to get on in life by … Continued READ MORE
