Higher borrowing saw families through the renewed living standards squeeze but it can’t last forever

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Incomes and Inequality

Commenting on the latest Quarterly sector accounts published today (Friday) by the ONS, which revised down real household disposable income growth in 2017 from 0.3 per cent to -0.5 per cent, Torsten Bell, Director of the Resolution Foundation, said: “Today’s figures show that the recent period of high inflation, and historically weak pay growth, caused … Continued

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Middle-income households saw solid living standards gains in 2016-17 – but that growth is slowing

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Incomes and Inequality

  Commenting on the latest Households Below Average Income (HBAI) survey for 2016-17, published  today (Thursday) by the Department for Work and Pensions, Adam Corlett, Senior Economic Analyst at the Resolution Foundation, said: “Today’s household income survey – the most comprehensive we have – shows that typical households saw solid income growth of 2 per … Continued

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Living standards are set to start rising again but just about managing families face three years of income stagnation

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Incomes and Inequality

Family incomes are set to start slowly rising again next year but low and middle income households risk missing out with three years of stagnating living standards lasting until 2020, according to the Resolution Foundation’s annual living standards outlook published today (Thursday). The report brings together the OBR’s latest economic forecasts with policy impact assessments … Continued

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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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