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Fixed Income - Bloomberg

Fixed Income - Bloomberg | In the news: data in the UK Data Service collection across the web | Scoop.it
Lower-income households in the U.K. are twice as likely to have turned to credit than their better-off counterparts during the coronavirus crisis, according to research from the Resolution Foundation.

Workers in shut-down sectors of the economy had an average of 1,900 pounds ($2,350) in savings, the think tank said in a report published Monday. That’s less than half of the 4,700 pounds average held by Britons able to work from home during the pandemic.
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Understanding Society

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Tories try to woo low-paid with vow to raise national living wage | UK news | The Guardian

Tories try to woo low-paid with vow to raise national living wage | UK news | The Guardian | In the news: data in the UK Data Service collection across the web | Scoop.it
Sajid Javid has signalled the government’s intention to woo low-paid workers in the forthcoming general election by announcing plans to increase the “national living wage” to £10.50 an hour.

The chancellor said his new five-year target to raise the national living wage and reduce the age at which people could receive it from 25 to 21 meant the Conservatives were now the “workers’ party”. The changes would benefit 4 million people.
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Family Expenditure Survey 

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Low and middle-income households vulnerable to recession

Low and middle-income households vulnerable to recession | In the news: data in the UK Data Service collection across the web | Scoop.it
The income squeeze that followed the last financial crisis has left low and middle income households more vulnerable to the next economic shock than they were in 2008, according to the Resolution Foundation.

The think tank’s A Problem Shared? report examines the impact of recessions in the light of the financial crisis.

It found that a decade of weak income growth has left lower income families in a more vulnerable position than before the crisis hit. This is because they have less scope to reduce their spending on non-essentials should their incomes fall, while a higher proportion of this group have no savings to draw upon.
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Family Expenditure Survey

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Households Below Average Income

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Living Costs and Food Survey

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Middle-class households are most at risk from the next recession, experts warn –

Middle-class households are most at risk from the next recession, experts warn – | In the news: data in the UK Data Service collection across the web | Scoop.it
MIDDLE-CLASS families are at risk from the next recession, experts warn.

Households trying make ends meet are more vulnerable to a hit to the economy than they were at the time of the previous financial crash, according to the Resolution Foundation think-tank.
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Family Expenditure Survey

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Households Below Average Income

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Living Costs and Food Survey

Wealth and Assets Survey

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Boris Johnson’s no-deal bluster has put Leave voters’ livelihoods on the line

Boris Johnson’s no-deal bluster has put Leave voters’ livelihoods on the line | In the news: data in the UK Data Service collection across the web | Scoop.it
Jeremy Hunt (remember him?) infamously said he would go through with a no-deal Brexit even if it meant telling business owners their companies would go bust. Likewise and on a much bigger scale, our new leaders are clearly prepared to plunge Britain into recession as a trade-off for delivering Brexit by 31 October. New research suggests that, just like with Hunt, the sacrifice would not be theirs. 

The last economic slump delivered the deepest cuts to the incomes of richer households. However, the next recession will hurt lower-income families the most, according to a report released on Monday by the Resolution Foundation. These, of course, are precisely the voters who chose Leave in the greatest numbers.
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Low- and middle-income families now less able to cope with recession than before 2008 crisis, study finds

Low- and middle-income families now less able to cope with recession than before 2008 crisis, study finds | In the news: data in the UK Data Service collection across the web | Scoop.it
Most UK families would suffer more from a post-Brexit recession than they did during the 2008 financial crisis, a new report has found.​

Low and middle earners are more vulnerable to the next economic shock than they were in 2008, according to a study by the Resolution Foundation.

This is mostly because the impact of the last recession is still being felt by many families, meaning they would struggle to cope with another downturn.
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Family Expenditure Survey

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Households Below Average Income

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Living Costs and Food Survey

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Poverty Afflicts Almost 20% of Britons in Wage-Earning Homes - Bloomberg

Poverty Afflicts Almost 20% of Britons in Wage-Earning Homes - Bloomberg | In the news: data in the UK Data Service collection across the web | Scoop.it
Almost one in five Britons living in wage-earning households was in relative poverty in 2017, according to the Institute for Fiscal Studies.

In a report published Wednesday, the think tank said in-work poverty now affected around 8 million people, up sharply from the early 1990s.

But while rising housing costs and weak wage growth were partly to blame, the increase also reflected the fact that many more people are now in work, including those on low incomes such as lone parents, the IFS said.
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Family Expenditure Survey 

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Weak pay rises and dearer housing fuel jump in working poor, says IFS | Society | The Guardian

Weak pay rises and dearer housing fuel jump in working poor, says IFS | Society | The Guardian | In the news: data in the UK Data Service collection across the web | Scoop.it
Britain has seen a big jump in the working poor since the 1990s, with almost three out of five people below the official poverty line living in a household where at least one person is working.

The Institute for Fiscal Studies found that a drop in the number of workless households, better-off pensioners and higher rents had resulted in 8 million in poverty from working households.

The thinktank said that between 1994 and 2017 the share of poverty accounted for by working households had jumped from 37% to 58%.
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Family Expenditure Survey 

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Young adults benefit from better pay

Young adults benefit from better pay | In the news: data in the UK Data Service collection across the web | Scoop.it
The proportion of low-paid workers in Britain has fallen to its lowest level since 1980, a think tank has said, with young adults particularly benefitting.

The number of low-paid workers dropped by 200,000 last year, with 120,000 of them aged between 21 and 30, the Resolution Foundation said.

It said the introduction of the National Living Wage had "significantly" reduced low pay.
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Family Expenditure Survey 

New Earnings Survey Panel Dataset

Annual Survey of Hours and Earnings

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Millennials are some of the worst hit by social mobility decline in the UK

Millennials are some of the worst hit by social mobility decline in the UK | In the news: data in the UK Data Service collection across the web | Scoop.it
Comparing the standard of living today with that of the past is crucial to understanding the UK’s economic and social health. In fact, both in our everyday lives and in studies of social sciences, we often assess economic progress by comparing our standard of living to that of our parents. A recent poll by Ipsos Mori shows that only 36 per cent of millennials believe they will be financially better off than their parents. The figure among baby boomers is about 20 percentage points higher.
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Labour Force Survey 

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1970 British Cohort Study 

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Proportion of mums in work 'up 50% since mid-1970s'

Proportion of mums in work 'up 50% since mid-1970s' | In the news: data in the UK Data Service collection across the web | Scoop.it

"The proportion of working-age mothers with a job has risen by nearly 50% in the past four decades, a study says.

The Institute for Fiscal Studies (IFS) found the increase was behind a wider rise in the number of women in employment in the UK. It credited a "huge change in working patterns", with women much less likely to stop work when they have children.

 

But it said the rise in maternal employment had been most noticeable among partners of higher-earning men. According to the think tank, the proportion of mothers aged 25-54 in paid work grew from 50% in 1975 to 72% in 2015."

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Link to IFS report: The rise and rise of women’s employment in the UK

 

 

 

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Benefit cuts will 'push up child poverty'

Benefit cuts will 'push up child poverty' | In the news: data in the UK Data Service collection across the web | Scoop.it
An extra 400,000 children will be pushed into "absolute poverty" by 2022, a think tank warns.
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Million more children threatened with poverty due to Government policy - report

Million more children threatened with poverty due to Government policy - report | In the news: data in the UK Data Service collection across the web | Scoop.it
Government policy has created an austerity generation, threatening to send one million more children into poverty, a new report warns.Research revealed that families already at greater risk of poverty, such as lone parents and those with a disability,
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Statistics of the Year 2019: Winners announced | StatsLife

Statistics of the Year 2019: Winners announced | StatsLife | In the news: data in the UK Data Service collection across the web | Scoop.it
The RSS has today (19 December 2019) announced the 2019 Statistics of the Year.

Now in its third year, the Statistics of the Year competition invites nominations of key stats that shine a light on important issues that affect everyone as well as reflect changes that are happening around us. This year's winners and highly commended stats cover a wide range of issues, from poverty to life expectancy; CO2 in the atmosphere to the amount of sugar in our soft drinks. 

The winning UK Statistic of the Year is 58%: the proportion of those in relative poverty who live in a working household (source: Institute for Fiscal Studies based on Department for Work and Pensions figures). 
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Expenditure and Food Survey

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Having children really does make you happier - but only AFTER they grow up and move out | Daily Mail

Having children really does make you happier - but only AFTER they grow up and move out | Daily Mail | In the news: data in the UK Data Service collection across the web | Scoop.it
Parenthood makes people happier - but only after their offspring have moved out. 
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1970 British Cohort Study

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Low income households most vulnerable to downturn

Low income households most vulnerable to downturn | In the news: data in the UK Data Service collection across the web | Scoop.it

LOW and middle-income households are more vulnerable to the next economic downturn as a result of the last financial crisis, a new study suggests.

A decade of weak income growth has left lower-income families in a more vulnerable position, said the Resolution Foundation.

It has previously warned that the risk of recession is at its highest level since 2007.

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Family Expenditure Survey

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Households Below Average Income

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Living Costs and Food Survey

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Low income families more vulnerable to recession than before financial crisis - Mirror Online

Low income families more vulnerable to recession than before financial crisis - Mirror Online | In the news: data in the UK Data Service collection across the web | Scoop.it
Low and middle income households are more vulnerable to recession than they were before the last financial crisis, a new study has found.

Analysis by the Resolution Foundation found a decade of sluggish growth in pay packets had left families with less ability to scale back on non-essentials if their incomes fall.

And a higher proportion of families have no savings to draw upon in emergencies.
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Households Below Average Income

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Living Costs and Food Survey

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Low-income Britons 'more vulnerable to recession than in 2008' | Politics | The Guardian

Low-income Britons 'more vulnerable to recession than in 2008' | Politics | The Guardian | In the news: data in the UK Data Service collection across the web | Scoop.it
Low-income households in Britain are more vulnerable to recession than they were before the financial crisis, the Resolution Foundation has warned, amid the mounting risks of a Brexit downturn.

According to the thinktank, a decade of weak wage growth has left the poorest UK households and middle-income families less prepared for another downturn. It also warned the gradual dismantling of the benefits system under the policy of austerity imposed over the past decade by Conservative-led governments has left people without the same degree of support.
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Family Expenditure Survey

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Households Below Average Income

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Big increases in in-work relative poverty rate are about much more than just low pay

Big increases in in-work relative poverty rate are about much more than just low pay | In the news: data in the UK Data Service collection across the web | Scoop.it
Between 1994 and 2017 there was an increase from 13% to 18% in the proportion of people in working households living in relative poverty that’s an increase of 40% 

By 2017 8 million people in the UK living in working households were in relative poverty.

These are among the key findings of new research funded by the Joseph Rowntree Foundation and published today by the Institute for Fiscal Studies as part of its annual report on Living Standards, Poverty and Inequality in the UK.
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Family Expenditure Survey 

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Rising levels of poverty in working families

Rising levels of poverty in working families | In the news: data in the UK Data Service collection across the web | Scoop.it
As care worker Liam Doherty knows all too well, if you're in a low-paid job, the slightest setback can capsize your finances.

The Irishman moved to the UK in September 2013, bringing his wife Debbie and four children from County Limerick to take up a job in Dawlish in Devon.

"We were struggling to get by," he says. With his wife unable to work because of ill-health, he was the sole provider in the family.
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Family Expenditure Survey 

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Households Below Average Income 

Labour Force Survey 

Living Costs and Food Survey

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Number of low-paid workers falling as minimum wage rises

Number of low-paid workers falling as minimum wage rises | In the news: data in the UK Data Service collection across the web | Scoop.it
The number of low-paid workers in Britain has fallen to its lowest level since 1980, according to a new report.

Analysis by the Resolution Foundation suggests that the National Living Wage has “significantly” reduced low pay, with the number of low-paid workers dropping by 200,000 in the last year.

Young adults are particularly benefitting, with 120,000 of these low-paid workers aged between 21 and 30.
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Family Expenditure Survey 

New Earnings Survey Panel Dataset

Annual Survey of Hours and Earnings

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Low Pay Britain 2019

Low Pay Britain 2019 | In the news: data in the UK Data Service collection across the web | Scoop.it
This is the ninth annual Resolution Foundation report on low pay. This year we focus on the minimum wage, for two reasons. The first is that it is driving big, welcome changes to our labour market. As the UK’s wage floor celebrates its 20th birthday, recent increases in its level have driven the first sustained … Continued
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Family Expenditure Survey 

New Earnings Survey Panel Dataset

Annual Survey of Hours and Earnings

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Would a bigger house make you happier?

Would a bigger house make you happier? | In the news: data in the UK Data Service collection across the web | Scoop.it
The UK is often said to be experiencing a dire shortage of living space, but does having more room necessarily make people more content?

It is common to hear concerns about pokey new-builds and sky-high rents forcing people into ever smaller homes.

But the reality is that living spaces in England and Wales are actually larger than ever, with the average home increasing from 88 to 90 square metres between 2004 and 2016.
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Wales could see biggest rise in child poverty after benefit changes

Wales could see biggest rise in child poverty after benefit changes | In the news: data in the UK Data Service collection across the web | Scoop.it
A major report warns that child poverty in Wales could jump from 28% to 34.9%
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Child poverty in Britain 'set to soar to new record'

Child poverty in Britain 'set to soar to new record' | In the news: data in the UK Data Service collection across the web | Scoop.it
IFS forecast that 37% of children will be in relative poverty by 2022 would see all progress made in the last 20 years undone
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