In today’s Economic Outlook the OECD show UK real wages falling by 1.1% in 2018, with nominal earnings growth of 1.5% outstripped by inflation of 2.7%. This is a big change of view on nominal earnings, which were previously expected to rise by 2.5% (in their March interim forecast). This revision…Read more…
OECD call for increased public investment as UK economy weakens and real wage decline intensifies
Today the OECD issue their twice yearly Economic Outlook, setting out their view of how the economy will develop, and how governments should respond. Their message for the UK government is clear: they need to invest. The headline on their economic comm…Read more…
Public servants need a #PayRise: Stories from the North West
One of the strongest themes we’ve heard on the North West leg of our Britain Still Needs A Pay Rise tour has been what’s happening to wages in the public sector. Traditionally seen as a sector of “good jobs”, the years since the crash have seen a dramatic reversal. In…Read more…
West Midlands devolution – ending the fly-over state
Devolution has a long history. The election of metro mayor’s across the UK was just the latest milestone in the devolution journey. Successive governments have recognised that the UK is far too centralised and that to unlock the full potential of the UK’s nations and region’s Whitehall needs to…Read more…
Growth of insecure work has added to labour market disadvantage for Black, Asian and minority ethnic groups
The growth of insecure work has exacerbated the inequalities that Black, Asian and minority (BAME) ethnic workers already face. The experience of insecure work differs between different ethnic groups, but the overall pattern is one in which BAME worker…Read more…
Britain still needs a pay rise – real wages are falling again
Are you feeling the pinch? That’s because real wages are falling – again. In 2016, average real weekly pay (that’s pay once inflation has been taken into account) for UK workers was around £24 less than it was back in 2008. This adds up to over £1,200 a year. The UK is one of few…
The…Read more…
Productivity: the long global view
We’re often told that the key to raising wages is to solve the ‘productivity puzzle’. Output per worker has stagnated since the financial crisis, leading economists to worry that the outlook for the economy is bleak. But a range of evidence across many countries suggests that the fall in…Read more…
As real wages fall, household debt is set to reach record highs
This year, household debt is set to be higher than ever before. TUC analysis finds that unsecured debt per household is set to reach £13,900 in 2017. In 2016, unsecured debt per household was already £13,200 – higher than at any other point since the financial crisis and only marginally below…Read more…
Keeping workplace pensions working: responding to the government consultation on defined benefit pensions
While the General Election takes centre stage, within Whitehall a process is quietly going on that could affect the living standards of upwards of 11 million people. Last week, a government consultation on the future of defined benefit (DB) pensions – the type that pay an income based on our salary…Read more…
Homeworking is up – now time for employers to speed up
Are you thinking “why wasn’t I at home today?” As we struggle home from work, we are often driven to wonder why we are making the journey in the first place. There is a lot that can upset us – delays, congestion, thoughtless road users, having to stand on public transport and a general…Read more…
Three approaches to social care: what are the parties’ plans?
The Conservative party published their manifesto this morning. This means we are now in a position to look at the approach of each major party to funding social care in England. Conservatives The Conservative policy is abandon the Dilnot reforms the pa…Read more…
Pensions and the price of milk
For a while there was a fad among political journalists for asking politicians the price of every day items, to test their understanding of voter’s lives. When it comes to changes to pensions policy, aspiring political leaders should have to prove their understanding of the financial position…Read more…
Mind the gap: the impact of mental health problems on employment
Today is the opening day of the TUC’s two day Disabled Worker’s Conference. And last week was the Mental Health Awareness Week, with the theme of Surviving or Thriving? While the employment rate of disabled people has increased in the last few years there is still a large disability employment gap…Read more…
Why aren’t wages rising?
Today’s labour market figures presented yet another iteration of the puzzle of the UK labour market in recent years: why are higher employment rates not pushing up wages? Traditional labour market theory tells us that as unemployment falls, workers feel more secure in their jobs and more able to…Read more…
ECJ Singapore ruling adds to case against ISDS in Brexit deal
Today the European Court of Justice (ECJ) gave an important boost to the case for scrapping Investor State Dispute Settlement, as well as other corporate court systems like it, in trade agreements. Part of the ECJ’s ruling today was that trade deals that contain ISDS need to be ratified in EU…Read more…
#GE2017: Why this election matters so much to young people
If you’re under 25, this election matters because it is about securing your future. A massive 2.4m young people are currently missing from the voter register, more than enough votes to swing the election outcome drastically in any direction they chose. We know that turnout for 18-24 year olds has…Read more…
We need family work rights that working families can actually use
Today is the International Day for Families, so it’s timely to think about the types of support that working families need to spend more time together. As a starting point, it’s imperative that working parents don’t see their existing rights undermined following Brexit. EU employment law…Read more…
Industrial Strategy: Which sectors should we focus our support on?
If industrial policy is suddenly so popular amongst politicians wanting our votes, why was it so controversial before now? The answer to that question lies in the fact that industrial policy has been based on an understanding that some business sectors…Read more…
Why all the political parties should be talking about pay, jobs and rights?
What’s at stake for working people in this election? Economic issues increasingly risk being the dog that didn’t bark in this election. The 2015 campaign saw a fierce debate about the figures, whether on the scale of the cost-of-living crisis or the size of the deficit, at the centre of parties’…Read more…
Active industrial strategy: Where should the next government put its money?
The main parties in this election are committed to an active industrial strategy, a great improvement over years of leaving much of the development of industry to market forces. But we need to see the detail. As they publish their manifestos, we’ll be watching closely to see what their own…Read more…