Final furlough?

Six months on from the start of the Job Retention Scheme

by

At its peak in early May the Coronavirus Job Retention Scheme (JRS) was supporting 8.9 million jobs. As the economy has opened up in recent months take-up of the scheme has been falling, to 4.8 million by 31 July. Of these, 3.5 million (over 10 per cent of private sector employees) were still furloughed in … Continued

All together now?

The impacts of the Government’s coronavirus income support schemes across the age distribution

by

This note looks at how policies to protect household incomes in the pandemic – the coronavirus Job Retention Scheme (JRS), the self-employment income support scheme (SEISS), and a significant boost to social security benefits – have been felt across different age groups during the first months of the crisis.

Under water

How big will the negative equity crisis be, and who is at risk, in the aftermath of the coronavirus crisis?

by

This report for the Resolution Foundation’s Intergenerational Centre focuses on two big questions: what is the likely scale of the possible low equity problem in the aftermath of the coronavirus crisis; and who is likely to be affected? First, the report shows that the scale of the possible low equity problem looks set to be … Continued

Can training help workers change their stripes?

Retraining and career change in the UK

by

The coronavirus crisis has already brought significant disruption to the UK labour market, particularly in sectors that offer in-person services like hospitality, entertainment and retail. There are fears that as the Government’s temporary support measures wind down, many more adults could soon be out of work. The Government will need to consider adult education and … Continued

Housing Outlook Q3 2020

House prices in recessions

by

Welcome to Housing Outlook Q3 2020. In this edition we examine how house prices have behaved in previous recessions, and look set to adjust to the coronavirus crisis. While some might see anticipated house price falls as a potential opportunity for young people to get onto the housing ladder, the Office for Budget Responsibility’s house … Continued

The Government is not paying nine million people’s wages

The number of people currently furloughed is less than half this amount

by

From today, employers will start contributing towards the wage costs of furloughed employees. This significant first step in the phasing-out of the Coronavirus Job Retention Scheme (JRS) carries real risks of increased redundancies – particularly for those in the hardest-hit sectors – and so attention should also focus on the important question of just how … Continued

The truth will out

Understanding labour market statistics during the coronavirus crisis

by

Labour market statistics matter. In normal times, they offer a snapshot on how household living standards are faring, and in recessions they also provide a key measure of how serious a crisis we face. Because the current coronavirus crisis is rooted in the labour market, even more attention is being paid to the monthly labour … Continued

Earnings Outlook Q1 2020

What we know about how employee earnings have fared in the current crisis

by

Since we last produced an Earnings Outlook (at the end of March) some things have become clearer. The scale of the impact of the current crisis is as big as was feared. This was already apparent then from the soaring claims for Universal Credit, but has since been confirmed by the 300-year-record fall in GDP, … Continued

Act now, or pay later

The OBR’s Fiscal Sustainability Report makes clear the implications of a crisis-driven rise in unemployment for the public finances

by

The OBR’s latest Fiscal Sustainability Report confirms its view that the current crisis could lead to the largest economic contraction in 300 years precipitating a return of unemployment levels not since the 1980s. Given the huge uncertainty, the OBR has produced three scenarios with different assumption about a timetable for finding a vaccine or other … Continued

Time with the kids

How parents’ time use has changed during the pandemic

by

Many aspects of people’s time use have been turned upside down by the coronavirus lockdown. Some restrictions are now being unwound, but others, like limits on the availability of professional childcare, will continue, with particular consequences for how parents of different genders use their time. Indeed, data collected during the lockdown suggests that while job … Continued

Summer Economic Update July 2020

Resolution Foundation overnight analysis

by

This was not a Budget, but was still a big deal with £30bn of measures to support the economy. This is particularly significant when seen in combination with £160bn of pandemic-related support already announced, leaving borrowing this year on course to reach £350bn. Debt interest costs will continue to fall, although the crisis will leave … Continued

Lockdown living

Housing quality across the generations

by

For three months, the majority of the population has ‘stayed home to save lives’, bringing the quality of our housing stock and neighbourhoods into sharp relief. In this briefing note, we explore how long-term housing trends have resulted in significant gaps between generations when it comes to living conditions. As we face the prospect of further local or national lockdowns going into the winter months, we argue the inequalities we uncover demand attention from policy makers more than ever before.

The Full Monty

Facing up to the challenge of the coronavirus labour market crisis

by

The coronavirus crisis has had a severe impact on the country’s health, but also its economy and the labour market with it. With activity across parts of the economy heavily restricted, the Job Retention Scheme saved millions of jobs, firms and incomes. But as the country moves from lockdown into a new, reopening phase of … Continued

Locked in?

The triple lock on the State Pension in light of the coronavirus crisis

by

It is well known that the triple lock on the State Pension – which states that it rises each year by the highest of earnings growth, inflation and 2.5 per cent – makes its value dependent not just on the general pace of growth in prices and wages, but also on their volatility. The next … Continued

Rainy days

An audit of household wealth and the initial effects of the coronavirus crisis on saving and spending in Great Britain

by

Families in Great Britain are faced with the most severe economic contraction in more than 100 years. Much of the immediate focus among policy makers has been on the size and distribution of falls in families’ incomes but household wealth, both savings and debt, will play a hugely important role in shaping how far families’ … Continued

Local differences

Responding to the local economic impact of coronavirus

by

Britain’s jobs crisis has hit every part of the country hard. At a headline regional level, job loss and furloughing has been fairly evenly spread. But increases in unemployment-related benefit claims have been larger in areas that started out with higher claimant rates, with this especially true when we focus at a more local level. … Continued

Return to spender

Findings on family incomes and spending from the Resolution Foundation’s coronavirus survey

by

Based on the Resolution Foundation’s new coronavirus survey of 6,000 working-age adults, this briefing note explores family spending during the crisis, with a focus on how outcomes have differed across the working-age income distribution.

A new settlement for the low paid

Beyond the minimum wage to dignity and respect

by

This crisis is shared, but its burden is not. From health risks to job losses, it is the UK’s 4.2 million low-paid workers on whom this pandemic has imposed the greatest cost, and of whom the efforts to combat it have required the greatest sacrifice. Lower earners are three times as likely to have lost … Continued

Coping with housing costs during the coronavirus crisis

Flash findings from the Resolution Foundation’s coronavirus survey

by

Many (including us) have speculated about how families may be managing their housing costs during the coronavirus crisis. In this spotlight we move from conjecture to firm evidence, presenting findings from our new survey of UK working-age adults on levels of housing stress, and how families in different housing tenures are coping. We find that … Continued

Public finances under pressure

Lessons for policy makers from April’s public finance figures

by

April’s Public Sector Finances data capture the first full month of the coronavirus lockdown and provide a sobering reminder of the fiscal costs of the pandemic. Public sector net borrowing was £62.1 billion last month, the highest level ever recorded and nearly three time higher than the last record of £22 billion in April 2012. … Continued

Young workers in the coronavirus crisis

Findings from the Resolution Foundation’s coronavirus survey

by

The coronavirus crisis is expected to hit workers hard, with evidence from previous crises indicating that the young are likely to be affected to a greater degree than most. In this spotlight we move from speculation to evidence, presenting new findings on how different age groups – and in particular the young – have been … Continued

Loading
No more publications found