Over half of furloughed workers have returned to work, ahead of the Job Retention Scheme’s phase-out beginning today

Widespread reports that nine million workers are currently furloughed are wide of the mark, with over half of such workers already likely to have returned to work, according to new Resolution Foundation research published to coincide with the beginning of the phase-out of the Job Retention Scheme (JRS) today (Saturday). Today marks a big shift … Continued

UK households have experienced the biggest immediate income shock since the mid-1970s

Policy response has massively boosted poorest households’ incomes, but further shocks lie ahead

The covid-induced crisis has caused typical working-age household incomes to fall 4.5 per cent between the pre-crisis period and May this year, despite the critical policy support that has cushioned the shock for millions of households, according to the Resolution Foundation’s Living Standards Audit published today (Tuesday). The Living Standards Audit 2020 considers the position … Continued

Headline unemployment measures are failing to show the true extent of Britain’s jobs crisis

The UK’s headline unemployment measure is significantly understating the recent rise in joblessness, while the often-used claimant count measure is hugely overstating the increase, according to a new Resolution Foundation report published today (Thursday). With changes to people’s employment status arguably the most important indicator of the state of the economy for most households, The … Continued

OBR sets out the scale of economic and fiscal damage – and of the gamble the Chancellor has taken on jobs

The Office for Budget Responsibility’s (OBR) latest outlook points to the biggest economic contraction in 300 years and unemployment matching its 1980s peak, highlighting the Chancellor’s gamble in not taking a bolder approach to tackling Britain’s jobs crisis, the Resolution Foundation said today (Tuesday). In three scenarios for the length of the crisis and the … Continued

Government’s Kickstart scheme could help 350,000 young people into work – but it needs to be delivered quickly

Commenting on the Government’s announcement of a new Kickstart Scheme to help young people into work, Kathleen Henehan, Economist at the Resolution Foundation, said: “Young people have been hit hardest by Britain’s growing jobs crisis, with three-in-ten 18-24 year olds furloughed, and one-in-ten already having lost their jobs. So, action to keep youth unemployment down … Continued

Huge generational living conditions divide exposed by Covid-19

The pandemic has exposed a huge generational divide in living conditions across Britain, with young people locked down with half the space and three times the risk of damp than older age groups, while renters have seen their mental health deteriorate, according to new Resolution Foundation research published today (Friday). Lockdown Living, funded by the … Continued

Prime Minister recommitment to infrastructure spending is welcome, but far from the answer to Britain’s economic crisis

Commenting on the Prime Minister’s speech today, Torsten Bell, Chief Executive of the Resolution Foundation, said: “In today’s speech, the Prime Minister returned to a key theme of both the 2019 Conservative Manifesto, and the March 2020 Budget, by recommitting to ‘level up’ the country with an ambitious of capital investment. “This the right thing … Continued

Britain needs a ‘Full Monty’ policy response to protect and create jobs in the face of the worst unemployment crisis in a generation

Britain needs a ‘Full Monty’ policy package, including a Job Protection Scheme to subsidise the wages of hospitality workers and its biggest job creation programme in peacetime, to respond to the highest unemployment since the early 1990s, according to a major new Resolution Foundation report published today (Monday). The Full Monty takes a deep dive into … Continued

Pandemic is seeing lower income households turn to borrowing, while higher income households increase their savings

Lower-income households are twice as likely as high-income households to have increased their use of consumer credit during the crisis, and are 50 per cent more likely to be saving less than usual, leaving them particularly exposed to the ongoing economic crisis, according to a major new Resolution Foundation report published today (Monday). Rainy Days, … Continued

Seaside towns and tourist hotspots at sharp end of job losses

Every region of the UK is seeing a significant rise in unemployment, but coastal tourist destinations like Blackpool, Pembrokeshire and Devon are seeing the biggest jobs hit, the Resolution Foundation says in new analysis published today (Sunday). With a drop of nearly half a million PAYE workers between March and April, Britain is facing a … Continued

Record-busting collapse in GDP as output in April falls by a fifth

April saw the sharpest monthly contraction on record, with GDP falling by 20.4 per cent compared with March, the Resolution Foundation said in response to latest figures released today (Friday) by the Office for National Statistics.   This monthly contraction is more than 9 times greater than any pre-pandemic monthly fall since these records began in 1997 (beating the 2.2 per cent fall in June 2002).  In the three months to April output fell by 10.4 per … Continued

Two-in-five high-income families have experienced household budget improvements during the crisis, compared to one-in-eight low-income households

Nearly two-in-five (38 per cent) high-income, working-age families have strengthened their household budgets since the crisis began, by reducing their spending and avoiding a hit to their incomes, while just one-in-eight (12 per cent) low-income families have been in this position, according to a new Resolution Foundation report published today (Tuesday). Much of the debate … Continued

Low-paid workers deserve a post-pandemic settlement of higher pay and greater control over their work

RF calls for new wage boards to drive up standards in problem industries

A new settlement for low-paid workers, hardest hit by both health and economic risks in this crisis, should be introduced to improve their pay and conditions as Britain emerges from the crisis, according to a new report published today (Wednesday) by the Resolution Foundation. The report notes that the UK’s 4.2 million low-paid workers have … Continued

Private renters fifty per cent more likely to have fallen behind with housing costs than mortgagors

One-in-eight (13 per cent) private renters have fallen behind with their housing costs since the coronavirus crisis started, compared to just one-in-twelve (8 per cent) mortgaged home owners, highlighting how the pandemic has exacerbated Britain’s housing divide, according to new Resolution Foundation research published today (Saturday). The report, based on a YouGov survey of 6,005 … Continued

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