Millennials’ income gains have stalled across advanced economies, but the UK stands out for its living standards and housing ‘boom and bust’

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Incomes and Inequality, Intergenerational Commission

The 20th century growth story that has seen each generation enjoy higher incomes than the one before them has ground to a halt in nearly all advanced economies in the 21st century. However, the UK stands out for having experienced a ‘boom and bust’ cycle where strong income and housing gains for post-war generations have failed to … Continued

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Strong labour market helps non-retired households to finally surpass pre-crisis income levels

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Incomes and Inequality

Typical disposable incomes for non-retired households reached a new high last year off the back of strong employment growth and low inflation, the Resolution Foundation said today (Wednesday) in response to the latest ONS income and inequality data, which refer to the financial year 2016-17. But the depth of the post-crisis squeeze means that typical … Continued

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Young people hit by spending squeeze as falling incomes and rising housing costs take their toll

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Incomes and Inequality, Intergenerational Commission

Young people have experienced the tightest squeeze on household spending since 2000 and now consume 15 per cent less than older working age people on items other than housing, according to a new report published today (Saturday) by the Resolution Foundation. The finding of a consumption ‘youth deficit’ is in stark contrast to common claims … Continued

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Rising prices are bearing down most heavily on lower income families

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Incomes and Inequality

  The rising cost of food and clothing means that inflation is increasing fastest for the poorest households, the Resolution Foundation said today in response to the latest inflation figures. The Foundation notes that the rising cost of food and clothing – which was falling this time last year ­– is now the biggest driver … Continued

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Bangladeshi and Pakistani households have seen fastest income growth this century

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Incomes and Inequality

Huge gaps in household income between different ethnicities persist Large living standards gaps between different ethnicities persist in Britain, with typical Bangladeshi household incomes being £8,900 (35 per cent) lower than the White British median; Pakistani households £8,700 less (34 per cent) and typical Black African households £5,600 less (22 per cent), according to new … Continued

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Income growth halved in the run up to the 2017 General Election

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Incomes and Inequality

  Britain beset by big divides on housing, age and inequality The mini living standards boom between 2013 and 2015 came to an abrupt halt in the year running up to the recent General Election, with income growth halving to just 0.7 per cent, according to a major new report published today (Saturday) by the … Continued

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