Inflation is on course to rise above four per cent in the coming months – reducing real average household incomes by £700. And while monetary policy makers at the Bank of England should ‘look through’ this temporary inflation spike, fiscal policy makers should act to protect family incomes and strengthen the recovery, according to new … Continued

Overall furlough rates dropped to their lowest level since the start of the pandemic in late May, but a significant proportion of employees remain out of work even as firms report staff shortages, and the Government prepares to start phasing out the Job Retention Scheme (JRS) in just two weeks’ time, the Resolution Foundation said … Continued

Commenting on the latest inflation statistics published today (Wednesday) by the ONS, which show that CPI inflation increased to 2.1 per cent in May, up from just 0.3 per cent in November – the fastest six month rise in inflation since the collapse of sterling in the aftermath of the financial crisis , Jack Leslie, … Continued

Payrolled employment increased by almost 200,000 in May as the country experienced a grand hiring surge. However, the UK still has a ‘Covid employment gap’ of 2.8 million workers to close before the recovery is complete, the Resolution Foundation said in response to the latest ONS labour market statistics today (Tuesday). The latest data shows … Continued

Women’s average working hours have taken a far smaller hit during the pandemic than men’s, with women who do not have children now working longer hours than ever before – in marked contrast to predictions of a ‘shecession’ at the start of the pandemic, according to new research published today (Monday) by the Resolution Foundation. … Continued

Responding to the Government’s announcement of a new ‘workers’ watchdog’ today (Tuesday), Lindsay Judge, Research Director of the Resolution Foundation, said: “Labour market rules are only effective if they are enforced properly, and the current fragmented system often leaves workers most in need to support to fall through the cracks. “A new Single Enforcement Body … Continued

Low-paid workers have been worst affected by the pandemic, are now returning to work fastest in the recovery, but still face the dual risks of rising unemployment and high job insecurity later this year and beyond, according to new Resolution Foundation research published today (Tuesday). The Foundation’s 11th annual Low Pay Britain report examines the … Continued

The number of furloughed workers fell by 880,000 in April – and by 1.6 million since January – as the economy began to reopen, while take-up of the Job Retention Scheme reached two billion working days, the Resolution Foundation said in response to the latest HMRC and ONS furlough statistics published today (Thursday). The latest … Continued

After four-decades of decline, 2020 was the fourth year in a row in which trade union membership among employees in the UK increased – with membership up 120,000 on the year before – according to Resolution Foundation analysis of new statistics published today (Thursday) by the Department for Business, Energy and Industrial Strategy. The Foundation … Continued

The second highest monthly increase in payrolled employment on record, coupled with vacancies returning close to pre-crisis levels, show that the labour market is entering a new phase as it reopens and recovers – but a return to its pre-pandemic health is still a long way off, the Resolution Foundation said today in response to … Continued

The UK is facing a ‘decisive decade’ of change as five seismic economic shifts – the Covid aftermath, Brexit, the Net Zero transition, an older population and rapid technological change – come together. Our economic strategy must be rebuilt in light of these shifts, and the opportunities and challenges they create, or we risk leaving … Continued

Young people have been at the centre of two interlinked crises during the pandemic, experiencing the largest employment hit and sharpest increase in mental health conditions of any age group, according to a new report published today (Thursday) by the Resolution Foundation. The report Double Trouble – supported by the Health Foundation – examines the … Continued

Press release from the Resolution Foundation Pandemic leading to a ‘race for space’ – and soaring house prices in least populated areas House prices in the least-densely populated areas of the UK have risen almost twice as much as those in the most-densely populated areas over the past year, which reflects both the pandemic prompting … Continued

Radical changes to the UK’s social security safety net during the pandemic should prompt a wider public debate about its successes and failures, and how Britain’s post-pandemic welfare system can be further improved, according to a new Resolution Foundation report published today (Thursday). With the crisis prompting the Government to introduce radical new policies, such … Continued

The Covid-19 crisis has led to the biggest annual employment fall for workers over 50 since the 1980s, according to a new report published today (Monday) by the Resolution Foundation. The report A U-Shaped Crisis – supported by the Nuffield Foundation – examines the economic impacts of the Covid-19 pandemic on older workers, and how … Continued

The Covid-19 pandemic has sent public sector borrowing for the year 2020-21 to £303.1 billion – almost six times as large as the Office for Budget Responsibility (OBR) pre-pandemic forecast back in March 2020 (£54.8 billion) – the Resolution Foundation said today (Friday) in response to the latest ONS public sector finance figures for March. … Continued

UK households are far more likely to have experienced a severe income shock during the Covid-19 crisis than their French and German counterparts, and are more likely to have taken on additional debt in response, according to a new report published today (Wednesday) by the Resolution Foundation. The report After Shocks – supported by JPMorgan … Continued

The UK has a 6.2 million ‘Covid employment gap’ of lower employment and furloughed employees who need to get back to work, highlighting the scale of the economic task ahead of us, the Resolution Foundation said today in response to the latest ONS labour market statistics today (Tuesday). The latest data showed a labour market … Continued

Press release from the Resolution Foundation Recent education leavers and young Black workers hardest hit by Covid-19 job shock Young people have experienced a sharp rise in unemployment during the pandemic – despite widespread furloughing and a rise in studying – with the increase fastest among recent education-leavers and young Black people, according to new … Continued

The 2020s will see the UK experience unprecedented economic change – driven by the triple shocks of the Covid-19 pandemic, Brexit and the transition to a Net Zero future – but the country lacks a plan to successfully navigate the decade ahead. This is the challenge posed in a ground-breaking new collaboration between the Resolution … Continued

Typical household incomes grew at fastest rate since 2001-02 in the year running up to the pandemic, but the proportion of children living in poverty also increased, the Resolution Foundation said today (Thursday) in the response to the latest Households Below Average Income (HBAI) statistics. The latest data shows that typical household incomes grew by … Continued

In response to today’s new HMRC figures on the Coronavirus Job Retention Scheme (JRS), which show that 4.7 million workers were furloughed (either fully or partially) at the end of February this year, Daniel Tomlinson, Senior Economist at the Resolution Foundation, said: “4.7 million employees were furloughed at the end of last month, showing just … Continued

A difficult end to 2020 saw employment fall by 148,000, but the Job Retention Scheme has prevented an 7.9 per cent fall in hours worked feeding through into further job losses in early 2021, the Resolution Foundation said (today) in response to the latest labour market statistics. The employment rate fell by 0.3 per cent … Continued

Pay growth was far weaker and more volatile last year than official headline data suggests, with half of workers experiencing a year-on-year real-terms pay cut last Autumn, according to the Resolution Foundation’s latest quarterly Earnings Outlook published today (Monday). The latest Outlook examines what has really happened to pay packets during the pandemic last year, … Continued

The Covid-19 pandemic, twelve months on from the first lockdown on 23 March, has been marked by big successes on income support and vaccines, repeated failures on lockdown that have cost lives and deepened the economic crisis, and a legacy of inequality that needs to be addressed in the recovery, according to new Resolution Foundation … Continued