Slowing economy begins to impact UK’s strong labour market

Underneath stable headlines of near record employment, several worrying indicators show that our slowing economy may now be affecting our labour market, the Resolution Foundation said today (Tuesday) in response to the latest ONS labour market statistics. Overall the UK’s labour market remains strong with employment, unemployment and inactivity rates stable over the course of … Continued

Record UK employment driven by households trying to combat unprecedented income squeeze

Britain’s record employment is the result of its post-crisis income squeeze, and means we’re working an extra 65 million hours a week, according to a new report published today (Tuesday) by the Resolution Foundation. The report, Feel poor, work more, argues that Britain’s record employment level is one of the biggest economic stories of the … Continued

Rising housing costs have wiped out 90 per cent of living standards gains for low-income families since early 2000s

Election manifestos need to tackle Britain’s high, unequal housing-costs as well as low home ownership

Higher housing costs have reduced incomes and increased inequality as the poorest families have borne the brunt of Britain’s 40-year housing crisis, the Resolution Foundation warns in new analysis published today (Saturday). The research – Inequality Street – notes that public concern about housing has grown in recent years, with approaching one-in-five adults now believing … Continued

From austerity Britain to hard-hat Britain – both main parties’ set out fiscal rules to usher in an era of big spending increases

Speeches from the two leading candidates to become Chancellor in the next parliament both set out new fiscal rules today (Thursday) that allow major spending increases over the next parliament, the Resolution Foundation said. Sajid Javid formally ditched the Conservative Party’s commitment to eliminate the deficit and instead set out rules to ensure that day-to-day … Continued

Britain on the brink of returning to ‘peak pay’ for the first time in 12 years

Average weekly earnings could finally surpass their August 2007 peak later this month, according to new analysis published today (Thursday) by the Resolution Foundation. However the UK’s 12-year pay downturn still leaves average pay £138 a week off its pre-crisis trajectory. The Resolution Foundation’s pay projection in its latest Earnings Outlook shows that, with real … Continued

Young millennials are being short-changed by the state

Lord Willetts warns that the upcoming election risks widening Britain’s age divides

Young millennials are on course to pay more and receive less from the UK’s education, health and benefit systems than any other post-war cohort, while baby boomers born in the 1950s are set to gain the most, according to analysis published in a new, updated edition of The Pinch by David Willetts. The Pinch – first published ahead … Continued

Labour market
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Pay
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Minimum wage
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Economy and public finances
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Political parties and elections

Resolution Foundation welcomes Chancellor’s hugely ambitious plan to eliminate low pay

RF says a measured approach is needed to reach this milestone over five years

The Chancellor’s plan to eliminate low pay over the next five years – by raising the National Living Wage (NLW) to reach two-thirds of typical hourly pay – is hugely ambitious and will need to be implemented carefully, the Resolution Foundation said today (Monday) in response to the Chancellor’s speech to the Conservative Party conference. … Continued

Labour has set out some significant welfare reforms, but they sensibly do not amount to actually scrapping Universal Credit

Commenting on the Labour Party’s plans to reform the UK’s benefits system, Adam Corlett, Senior Economic Analyst at the Resolution Foundation, said: “Labour has set out some significant reforms, but they sensibly do not amount to actually scrapping Universal Credit. Now isn’t the time for another huge overhaul of our social security system. “Instead, Labour have … Continued

‘No deal’ would require a £60bn policy response

With existing studies of a ‘no deal’ Brexit focusing on the size of the economic shock, and many  policy makers focusing on how little can be done about the structural changes brought about by Brexit, new Resolution Foundation research, published today (Thursday) argues for a more active policy to reduce short-term damage to households and … Continued

One in twenty workers say they are not receiving any paid holiday entitlement

Around one in twenty workers report not receiving any holiday entitlement, while around one in ten do not receive a payslip ­– highlighting the scale of labour market violations across the UK – according to new analysis published today (Monday) by the Resolution Foundation. The analysis, published to mark the start of the Resolution Foundation’s … Continued

UK labour market delivers stronger pay growth

RF says household living standards rely on maintaining a tight labour market

Record employment is now delivering healthy pay growth and protecting it is crucial to household living standards, the Resolution Foundation said today (Tuesday) in response to the latest labour market figures. Regular pay growth (excluding bonuses) was 3.8 per cent in the three months to July 2019 (easing slightly while total pay including bonuses strengthened to … Continued

The UK is not recession ready

The world has changed since the global financial crisis but the UK’s macroeconomic policy framework has not kept pace, risking the next recession being unnecessarily painful, according to a new report published today (Monday) by the Resolution Foundation. The report Recession Ready? – published to mark the launch of the Resolution Foundation’s new Macroeconomic Policy … Continued

The Chancellor has binned austerity and his fiscal rules with the biggest increase in public service spending since 2004

The Chancellor today ended austerity by announcing a £13.4bn increase in public service spending, and in practice tearing up his fiscal rules, the Resolution Foundation said today (Wednesday) in response to the Spending Round. The Foundation notes that the Chancellor’s spending package for 2020-21 equates to a 4.1 per cent real-terms increase in day-to-day departmental … Continued

Chancellor’s spending plans are likely to break his fiscal rules

The new Chancellor’s plans to increase public spending next week look set to be inconsistent with the fiscal rules he publicly remains committed to, according to a report published today (Saturday) by the Resolution Foundation. Breaking the rules examines the Chancellor’s options for his Spending Round next Wednesday (4 September) when he will set out … Continued

Geordie Shore generation are out-earning Byker Grovers – but Midlands millennials are falling behind

Millennials in the North East have experienced the UK’s biggest pay growth compared to the generation before them, but those in the East Midlands are earning less than people born 15 years earlier, according to new research published today (Thursday) by the Resolution Foundation. Mapping millennials’ living standards examines how young adults across Britain today … Continued

Apprenticeship reforms have improved quality but must deliver routes into careers for new starters 

Controversial reforms to the apprenticeships system have defied many of their critics and led to a welcome drop in the number of lower-quality apprenticeships in low-paying sectors, according to a new report published today (Saturday) by the Resolution Foundation. Trading up or trading off? Understanding recent changes in England’s apprenticeships system finds that claims that the … Continued

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