Crystal balls vs rear-view mirrors

The UK labour market after coronavirus

by

Summary Sudden and significant hits to the UK labour market in recent weeks have shown that this will be a jobs recession. The focus has rightly been on how to respond to the huge numbers of people losing work, but policy makers and pundits are also beginning to ask what this crisis could mean for … Continued

The economic effects of coronavirus in the UK

Utilising timely economic indicators

by

Summary This is the second edition of our roundup of timely indicators of the impact of coronavirus which aims to plug the gap left by traditional measures of economic activity which are not timely enough to capture these effects. This analysis will be updated weekly, as new data becomes available. New data in recent days … Continued

No work, no pay

Supporting unemployed people through coronavirus

by

This recession is a labour market recession, with the public health response to coronavirus swiftly shutting down employment-heavy sectors of the economy. Although the Government has rightly committed billions of pounds to support employers, encourage retention and bail out the self-employed, it is inevitable that unemployment will rise. For those who lose their job or … Continued

Earnings Outlook Q4 2019

How should minimum wage policy respond to the current economic crisis?

by

Usually in the Earnings Outlook we summarise the latest developments in pay and employment and use these to look forwards, with the trends moving slowly enough that the lag in our data is not too much of a problem. But with so much having changed so quickly, our normal indicators now serve as a guide … Continued

Helicopters on standby?

With rates at all-time lows, the Bank of England needs a different playbook for this crisis

by

With a big recession on the way, the Bank of England’s Monetary Policy Committee would normally be unveiling measures to support the economy today, and this piece would be discussing what they’ve done. But we are not in normal times. Instead, the Bank of England does not have the option of cutting rates in the … Continued

Safeguarding governments’ financial health during coronavirus

What can policymakers learn from past viral outbreaks?

by

In the wake of the coronavirus outbreak, governments have taken unprecedented steps to protect the health of their citizens and support their economies. They now need to take extraordinary steps to safeguard their own financial health through what could be a protracted period of economic disruption necessary to contain and eradicate the virus. This paper … Continued

Next steps to support family incomes in the face of the coronavirus crisis

by

The Government has set out an unprecedented package of support for family incomes, including paying 80 per cent of the wages of employees who currently have no work, via its Coronavirus Job Retention Scheme. Delivering that scheme should be the top priority, given its crucial role in preventing a very steep rise in unemployment and … Continued

Doing what it takes

Protecting firms and families from the economic impact of coronavirus

by

The coronavirus health crisis is now a full-blown economic crisis, and one that may last for much more than a few months. Firms will go bust and unemployment will rise. The majority of this economic damage will be driven not by the direct impact of coronavirus itself, but by the necessary measures – such as social distancing – that we put in place to respond to it.

Spring Budget 2020 response

by

Britain’s new Chancellor gave the country a big Budget, combining a larger-than-expected response to coronavirus with a resetting of the Government and Conservative party’s approach to managing the public finances. A large appetite for increasing public spending has been combined with far less appetite to raise taxes. The result is a Conservative Chancellor now planning … Continued

Euston, we have a problem

Is Britain ready for an infrastructure revolution?

by

The centrepiece of the new government’s first Budget is expected to be an ‘infrastructure revolution’ – spending at least an additional £100 billion over the next five years on public investment. This is significant because such spending has the potential to support economic growth, improve living standards and protect the environment. So this report considers … Continued

The Macroeconomic Policy Outlook Q1 2020

by

This is the first of a new series of Macro Policy Outlooks (MPOs) from the Resolution Foundation’s Macroeconomic Policy Unit, providing a policy-focused take on the economy. In this edition we explore the outlook ahead of the Budget due on 11 March. The economy has slowed significantly in recent quarters, with 2019 the second-weakest post-war … Continued

Living standards
·
Inequality & poverty
·
Cities and regions
·
Political parties and elections

Painting the towns blue

Demography, economy and living standards in the political geographies emerging from the 2019 General Election

by

This report provides an audit of the demography, economy and living standards of what we term the ‘Blue Wall’: the 50 seats that were gained by the Conservatives from Labour in the North East and West, Yorkshire and the Humber, the East and West Midlands, and Wales. We explore whether simplistic characterisations of the Blue … Continued

Housing Outlook Q1 2020

by

As we enter a new decade in which both the politics and economics of housing look set to be centre stage, this quarterly publication will be tracking all the key trends as the 2020s unfold. We will be keeping an eye on the housing market, and the way that housing intersects with both living standards and policy developments. This quarter, we begin with a look at house prices and ask whether the ‘levelling up’ we observe across the country since 2016 is at an end, or if the process still has further to run.

The times they aren’t a-changin’

Why working hours have stopped falling in London and the UK

by

For the typical British adult, paid work takes up more time than any other activity save sleep. How many hours someone works per week is important both for their family’s income and for the way they live their lives. Over the past 200 years average working hours have gradually declined, so that the typical worker … Continued

Dead-end relationship?

Exploring the link between productivity and workers’ living standards

by

Summary The strength of the relationship between productivity growth and median pay growth – and what it means for the way in which the gains from economic growth are shared across the workforce – has been questioned in recent years, with evidence of a ‘decoupling’ of the two across a number of advanced economies. Such … Continued

An outstanding balance?

Inequalities in the use – and burden – of consumer credit in the UK

by

As the 2010s drew to a close, both policymakers and the press raised concerns about rising levels of UK household debt, with some warning it could soon bring about the next recession. Although household debt levels remain high in absolute terms, when compared against total household income they are substantially below levels reached during the … Continued

The beginning of the end… …but not the end of the beginning

Governor Carney’s valedictory speech discusses the future of the UK’s monetary policy remit – but this is just the start of an important debate

by

The beginning of the end… After several false starts, the appointment of his successor (Andrew Bailey) means Mark Carney finally has a leaving date (15 March). He can now concentrate on the serious business of organising his leaving parties securing his legacy from his longer-than-expected time as Bank of England Governor. That all started yesterday … Continued

Under the wage floor

Exploring firms’ incentives to comply with the minimum wage

by

This briefing note explores the incentives for firms to comply with the National Living Wage/National Minimum Wage (NLW/NMW). It documents the penalties that firms are subject to; estimates underpaying firms’ rate of detection; and shows that even if detection rates were significantly increased, they would need to go hand-in-hand with higher financial penalties to provide firms with a hard economic incentive to comply with the NLW/NMW.

Never ever

Exploring the increase in people who’ve never had a paid job

by

This briefing note explores why, despite record-high employment, the proportion of working-age adults who have never had a paid job has increased, pointing to a reduction in ‘earning while learning’ as a key driver.

Political parties and elections

Election 2019

Our analysis to date

During elections, political parties set out their vision and priorities for the country over the next five years. The Resolution Foundation has published a series of reports assessing the shape of the state, and exploring the main parties’ plans on housing, tax and spend, and fiscal policy. Read more using the links below, or download our … Continued

Loading
No more publications found