Publication type
Report
Authors
Publication date
November 15, 2024
Summary:
This report marks the launch of Unsung Britain, a one-year research programme designed to understand the economic circumstances of today’s low-to-middle income families and how these have changed in recent decades, with support from JPMorganChase.
The launch paper finds that Britain’s 13 million low-to-middle income families are older and more likely to suffer from poor health or a disability than three decades ago. This means more lower-income families are caring for adults, with 1-in-8 people in this group caring for an ill, disabled or elderly adult. People in low-to-middle income families are now over three times more likely to be economically inactive due to ill-health than because they are looking after children, a significant change from 1994-95, when the rates were the same. Despite all this, lower-income families are far more likely to be in work today than they were in the mid-1990s. Meanwhile, there has been a fall in homeownership among low-to-middle income families – declining from a peak of 40 per cent in 2000-01 to around 30 per cent in 2022-23. This, coupled with a lack of social housing, has pushed a record share of poorer families into the high-cost private-rented sector. These high housing costs, coupled with a slowdown in wage growth, have contributed to a worrying long-term living-standards stagnation across the poorer half of Britain.
Subjects
Link
https://www.resolutionfoundation.org/publications/unsung-britain/
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