Ventures WorkerTech newsletter: July 2022 The latest update from Resolution Ventures 29 July 2022 by Emma Selinger You’ve probably noticed that workplace benefits have recently gone from the ordinary (additional holiday, volunteering days, cycle to work scheme) to the extraordinary (pawternity leave, unlimited holiday, international football tournaments). But often forgotten among these perks are pensions. While unglamorous in comparison to some benefits, pension savings can make a seriously significant difference to living standards in later life. Yesterday the Resolution … Continued READ MORE
Labour market Feeling poor and working more – again 19 July 2022 by Greg Thwaites Today’s labour market data tell us a bit more about how the labour market is responding to high inflation and the cost of living shock. We see some things we would expect, some things which may be surprising, and much that remains unresolved. Real wages fall at the fastest rate on record The most eye-popping … Continued READ MORE
Straight talking on tax cuts 14 July 2022 by Torsten Bell The Conservative Party got rid of Boris Johnson because once too often he just wasn’t straight with them or the public. But the danger now is that the leadership election that is meant to help the Party and country move on fails the very same straight-talking test, given the sheer scale of tax cut promises … Continued READ MORE
Intergenerational Centre How Britain became a gerontocracy The pensions boost is further proof that Britain is run for the benefit of the older generation — paid for by the young, writes David Willetts 29 June 2022 by David Willetts Last week’s announcement of the return of the triple lock for pensions makes it clear where real political power lies in Britain. Pensioners are promised a 10 per cent increase next year, matching inflation, while basic pay is rising at just 4 per cent. This is the latest example of a deep-seated trend: our country … Continued READ MORE
Labour market A tight labour market, but early signs of cooling 14 June 2022 by Nye Cominetti This morning’s labour market statistics from the ONS showed a familiar picture of a tight labour market alongside a deepening real wage squeeze. But there are also some signs of a turning point, with wider economic weakness at the start of 2022 potentially feeding into softening labour demand. A now familiar picture of a tight … Continued READ MORE
WorkerTech newsletter: May 2022 The latest update from Resolution Ventures 26 May 2022 by Emma Selinger It’s that time of year again – Bethnal Green Ventures (BGV) are on the lookout for a new cohort of ambitious founders to join their Tech for Good programme. Each year, we partner with BGV to back WorkerTech ventures to join the cohort. In this edition I’ve put together a suite of tips and tools to … Continued READ MORE
Ventures From platforms to promotions – event summary 25 May 2022 by Emma Selinger The way young people enter the job market from education can have a marked effect on their future prospects. Economic crises are a particularly tough time to start a career, and while the Job Retention Scheme prevented mass unemployment during the pandemic, young people still face huge challenges in terms of rising insecurity and finding … Continued READ MORE
Labour market· Pay Unemployment hits a record low but pay is still falling in real terms 17 May 2022 by Greg Thwaites Tuesday’s labour market data contained good news on unemployment, which fell to its lowest level in 50 years, but bad news on real pay, which is falling and set to fall faster. There are very early signs that labour-force participation might be starting to reverse the huge falls we have seen since the pandemic, but … Continued READ MORE
Economy 2030 Heat pumps are the future, but Government needs to do more to help lower income families with the costs 16 May 2022 by Jonathan Marshall Of all the transitions associated with net zero, it is decarbonising how we stay warm at home – replacing the boilers that heat five-in-six homes – that will be the hardest. Add in record overnight energy bill increases, and more pain set to come this Autumn, and the challenge seems greater still. Despite this, it … Continued READ MORE
Net zero· Living standards· Inequality & poverty Energy prices: Why now is the time to act to help millions of families facing fuel bill catastrophe A benefits boost and insulation drive are needed 3 May 2022 by Jonathan Marshall The first day of April saw the largest overnight jump in energy bills in living memory, pushing up the cost of gas and electricity for 22 million families by more than 50 per cent. Despite this not having sunk in yet – households are only one bill into this new reality at most – we … Continued READ MORE
Living standards The cost of living crisis is going to hurt To tackle it, we will also need to address the stagnation which has bedevilled the UK economy for years 3 May 2022 by Torsten Bell Britain is at last stepping out of the pandemic that has dominated the last two years – only to step straight into a huge cost of living crisis that will be the defining economic feature of what remains of this parliament. The lives of those at risk from the unfolding nightmare in Ukraine are our … Continued READ MORE
Ventures WorkerTech newsletter: April 2022 The latest update from Resolution Ventures 28 April 2022 by Emma Selinger The World Economic Forum predicts that 40% of new job opportunities will be created in the care sector by 2023. While this presents a significant opportunity for workers to transition from other shrinking sectors, we need to make sure that the jobs available are good ones with fair pay and conditions. In this edition of the … Continued READ MORE
Ventures WorkerTech newsletter: March 2022 The latest update from Resolution Ventures 31 March 2022 by Emma Selinger Thanks to Well_Lab, a collaboration between Wellcome Trust and Brink, yesterday I joined experts in work, employment, health and wellbeing at a round table to share ideas on what works and what doesn’t to improve worker wellbeing. While no one had a one-size-fits all answer, it was inspiring to hear of so many initiatives to support people experiencing wellbeing issues at … Continued READ MORE
Ventures Resolution Ventures invests in Ikigai Data 21 March 2022 by Emma Selinger We’re pleased to welcome Ikigai Data to Resolution Ventures’ social investment portfolio as part of the Workertech Partnership. The Workertech Partnership is backing a new wave of innovators who will harness technology to improve the pay, prospects, power, and progression of low-paid workers. Ikigai Data is a careers data and insights company that works with … Continued READ MORE
Labour market Labour market tight, household budgets tighter 15 March 2022 by Greg Thwaites Tuesday’s labour market data showed that many of the trends of recent months remain in play. The labour market tightened further, participation continued to disappoint and real pay packets kept falling, while nominal pay growth hasn’t yet shown clear signs of accelerating. The labour market is tight The labour market is now very tight on … Continued READ MORE
Labour market· Skills Good headline news on NEETs hides a worrying rise in economically inactive young men 24 February 2022 by Louise Murphy and Kathleen Henehan This morning the ONS published the latest figures outlining the number of young people who are not in education, employment or training (NEET). Overall 692,000 16-24-year-olds (10.2 per cent), including 642,000 18-24-year-olds (12 per cent), found themselves NEET at the end of last year. On the surface, this is worth celebrating: the number and proportion … Continued READ MORE
Economy 2030 Forget all you’ve heard about working life in modern Britain. It’s wrong The myths perpetrated about modern employment have left us perilously ill prepared for true economic change 23 February 2022 by Torsten Bell Economic change is speeding up. Technology means that industries are shrinking and growing faster than ever. The young change jobs incessantly while firms fire at will, ending the “job for life” enjoyed by previous generations. Everyone moves around the country for work these days, vacating poorer parts of Britain and hollowing out communities. All of … Continued READ MORE
Living standards· Prices & consumption· Inequality & poverty Inflation will hit low and middle-income families hardest 23 February 2022 by Torsten Bell This year is not being kind to the reputation of Britain’s institutions. Two months in, the police are already questioning the country’s elected — and unelected — leaders. But the cost-of-living catastrophe that will dominate 2022 will turn the heat on to our economic institutions. They are unlikely to emerge unscathed. Prices rose 5.5 per … Continued READ MORE
Migration If fewer workers migrate to Britain, our own will need greater mobility Migration policy can complement an economic strategy, but it can’t stand in for one. 23 February 2022 by Kathleen Henehan One of the main benefits often cited of leaving the European Union was that the UK regained control of its borders, with the Prime Minister arguing that bringing in a more controlled migration regime would be key to enabling the UK to become a high wage economy. Others fear that the shift to a new, … Continued READ MORE
Ventures WorkerTech newsletter: February 2022 The latest update from Resolution Ventures 22 February 2022 by Emma Selinger Did you know that in 2019, 10% of the working population did some form of weekly gig work? Growth in this part of the labour market shines a light on the tension between the autonomy and flexibility that gig work offers, and the lack of income security, worker rights and safety net that are inherent to atypical … Continued READ MORE
A tightening labour market won’t spare workers a big pay squeeze in 2022 15 February 2022 by Nye Cominetti The latest labour market statistics from the ONS showed the labour market continuing to tighten despite the Omicron variant. There are tentative signs that this is starting to feed into stronger pay growth, but not by enough to keep pace with prices, meaning workers’ wages are being squeezed in real terms. The labour market … Continued READ MORE
Ventures Resolution Ventures invests in CareerEar 9 February 2022 by Emma Selinger We’re delighted to announce that Resolution Ventures has made an investment in CareerEar as part of the Workertech Partnership. The Workertech Partnership is backing a new wave of innovators who will harness technology to improve the pay, prospects, power, and progression of low-paid workers. CareerEar is an online platform helping career-seekers from underserved groups to … Continued READ MORE
Living standards· Inequality & poverty· Cities and regions· Economic growth Levelling-up: The Blair-Osborne Project 2 February 2022 by Lindsay Judge and Charlie McCurdy There have been many attempts in the past to reduce the gaps between richer and poorer parts of the UK. But despite progress on some measures (most notably employment and pay), geographic disparities remain substantial and stubborn, particularly when it comes to productivity. The gap in typical pay between Kensington and Chelsea and Scarborough has … Continued READ MORE
Ventures WorkerTech newsletter: January 2022 The latest update from Resolution Ventures 27 January 2022 by Emma Selinger Did you know that more than one in three people working in hospitality and retail would consider switching careers after the pandemic? According to a poll conducted by Learning and Work Institute for their 2021 report, Fast Forward, workers in these sectors are thinking about a new career path. This type of career switching is likely to increase due … Continued READ MORE
Labour market· Pay January’s labour market data confirms 2022 will be the year of the pay squeeze 18 January 2022 by Nye Cominetti The big news in this morning’s labour market stats was confirmation that pay is now falling in real terms – the pay squeeze will be one of the defining features of 2022. There is better news on jobs, with falling unemployment suggesting the labour market continues to tighten, but vacancies have fallen from their high … Continued READ MORE
