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The Resolution Foundation has published two new reports evidencing that low earners have struggled more in the recession compared to benefit dependent groups and higher earners.
The Resolution Foundation’s reports ‘The low earners audit’ and 'Behind the Balance Sheet’ highlight the vulnerable position low earners find themselves in and how they have particularly affected by the recession.
The reports show that low earners have:
View the full reports for further information, ‘The low earners audit’ and 'Behind the Balance Sheet’
More...
The Resolution Foundation’s reports ‘The low earners audit’ and 'Behind the Balance Sheet’ highlight the vulnerable position low earners find themselves in and how they have particularly affected by the recession.
The reports show that low earners have:
- Experienced reduced income than other groups - 66% of 25-34 year old low earners reported a fall in income compared to 50% in the benefit dependent group and 33% amongst the higher earning group;
- Worked less hours - the number of low earners citing lost income due to reduced working hours as a factor in difficulty meeting payments doubled from 2008 (rose from 3% in 2008 to 7% in 2009); and
- Higher levels of personal inflation than higher earners - low earners spend 41% of their income on essential items such as food and fuel, which have been the biggest drivers of price increases in recent years versus only 27% amongst higher earners.
View the full reports for further information, ‘The low earners audit’ and 'Behind the Balance Sheet’
More...
