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The outlook for living standards and inequality

This seminar by David Finch discusses the current state and future outlook of living standards and inequality. It highlights the prolonged pay squeeze since the 2008 crisis and the resulting lowest decade of wage growth in 150 years. While incomes have started to recover at the top and middle, they remain flat at the bottom, leading to rising inequality. The economic and policy outlook suggests weak real pay growth, with gains from higher wage floors and income tax cuts offset by welfare cuts, resulting in net losses for the poorest households. This seminar sheds light on the falling incomes in the poorest half of working-age households and the overall rise in inequality.

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The outlook for living standards and inequality

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  1. The outlook for living standards and inequality TAP: Health Equality seminar David Finch July 2017 @ resfoundation @davidfinchrf

  2. from past to present

  3. Strong employment growth since 2008

  4. With the greatest employment growth for lower income families

  5. A prolonged post-crisis pay squeeze…

  6. A prolonged post-crisis pay squeeze… …that has just returned

  7. Translating to the lowest decade of wage growth for 150 years

  8. The income recovery has started to weaken

  9. Incomes have recovered at the top and middle, while remaining broadly flat at the bottom

  10. the future

  11. Economic outlook: Real pay growth is set to remain weak

  12. Policy outlook: Some gains from higher wage floor & income tax cuts

  13. But big welfare cuts are yet to fully bite

  14. Leading to net losses for the poorest half of households

  15. Incomes outlook: Falling incomes in the poorest half of working-age households & rising inequality

  16. The outlook for living standards and inequality TAP: Health Equality seminar David Finch July 2017 @ resfoundation @davidfinchrf

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