UK closes its six year ‘jobs gap’ – wage gap widens to eight per cent and could take another seven years to recover

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Wages & Income

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

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Falling real wages hit new lows

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Wages & Income

Average weekly wages have fallen to their lowest level since measures began in 2001 independent think tank the Resolution Foundation pointed out today. Official figures from the Office for National Statistics showed that the average regular weekly wage (excluding bonuses) was £447 in August. Adjusting for inflation (using the RPI measure) this is the lowest … Continued

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Stealth raid to cost families over £600 a year

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Welfare & Tax Reform

The government’s decision to change the way support for families keeps up with rising prices is going to cost the typical family with children £614 a year due to reductions in Child Benefit and Universal Credit payments, according to new research from independent think tank the Resolution Foundation. This stealth raid will hit those on … Continued

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One in five people struggling to keep heads above water

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Debt & Savings

Almost one in five people (18%) are finding it increasingly hard to afford essentials such as food and energy bills, according to new polling from independent think tank, Resolution Foundation. With the recovery remaining highly fragile and new cuts to tax credits starting to bite, the number of those expecting their financial situation to get worse … Continued

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Rising prices of essential goods wipe out gains in living standards

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Shared Growth

New analysis shows that the rising cost of essentials had already wiped out most of the gains in living standards made in the early 2000s by families on low and modest incomes, even before the recession began. The new report, for independent think-tank the Resolution Foundation, shows that increases in the price of food, fuel … Continued

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