Analysis to be released next month by the independent thinktank theResolution Foundation
will show that among this age group almost three in 10 (29%) are now low paid – equating to almost 1.5 million young workers. In 1975, the proportion earning low pay was less than one in 10 (8%)… The report comes amid growing concern that Britain’s economic recovery is not translating into wage growth and higher living standards for large sections of society… The steady rise in the share of younger workers who are low paid will be revealed in the Resolution Foundation’s publication Low Pay Britain, to be published next month.
Employment continues to rise, while unemployment fell to 6.4% last month, the lowest since 2008. Part of the story of the growth in employment is that 40% of the jobs created since 2010 are the result of a shift to self-employment, making the UK the self-employed capital of western Europe…
Entrepreneurship is the pulse of a thriving economy but, according to the thinktank the Resolution Foundation, one in four who, like Almond, became self-employed in the last five years would rather work for a boss; their situation is involuntary. As employers use ever more aggressive tactics to reduce labour costs and restrict collective action, productivity is suffering and patterns of employment initially viewed as temporary are becoming permanent. The gap between the richest and the rest widens. This is not unique to the UK.