A pause in inflation rises won’t prevent Britain’s pay squeeze returning – six months ahead of schedule

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Wages & Income

  The latest inflation figure of 2.3 per cent for March means that real average earnings look set to have fallen during the first three months of 2017, six months ahead of the OBR’s projection in the recent Budget, the Resolution Foundation said today (Tuesday) in response to the latest ONS figures. The Foundation’s updated … Continued

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Poorest third of households will be worse off from tax and benefit changes starting this week, despite a £1bn giveaway

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Welfare & Tax Reform

Four-fifths of the gains from tax and benefit changes coming into effect later this week (6 April) will go to the richest half of households, with the poorest third of households set to be £70 worse off on average, according to a new briefing note published today (Sunday) by the Resolution Foundation. The analysis looks … Continued

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Pay of National Living Wage workers set to grow nearly 4 times faster than typical earners this parliament

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Wages & Income

Pay for workers on the National Living Wage (NLW) will rise nearly four times faster than for a typical worker over this parliament, according to new Resolution Foundation analysis marking the latest increase of the NLW to £7.50 an hour today (Saturday). Today’s 30p increase means pay for NLW earners is estimated to be 1.5 … Continued

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Graduates have led the initial post-referendum dip in EU migrant workers

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Work & Security

The number of EU-born workers in the UK fell by 50,000 in the last three months of 2016 to around 2,300,000 – with the biggest falls taking place among graduates and those working in banking, the public sector and construction – according to new analysis published today (Thursday) by the Resolution Foundation. The Foundation’s analysis … Continued

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Pay packets already shrinking as record run of low inflation ends

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Wages & Income

Real earnings falls have arrived earlier than expected as inflation has risen above the Bank of England’s target for the first time since December 2013, the Resolution Foundation said today (Tuesday) in response to the latest inflation figures. Inflation had been below the Bank’s 2 per cent target for a record 38 months, driving recent … Continued

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