Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Monday, 1 June 2015

There are more low-paid workers in the UK than in other advanced economies

There are more low-paid workers in the UK than in other advanced economies

To download the full pdf, click here

Explaining the data
This data is taken from the Organisation of Economic Co-operation and Development database via http://stats.oecd.org/Index.aspx?DatasetCode=AV_AN_WAGE. Figures are for 2012 and 2013, and are the most recent available for each country. More detailed figures on UK employment are available from the Office for National Statistics ‘jobs statistics’ at http://ons.gov.uk/ons/taxonomy/index.html?nscl=Job+Statistics#tab-data-tables


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Wednesday, 29 April 2015

Top bosses pay increases are way out of proportion to company performance

For Britain's top bosses, pay is not performance-related
Britain's top executives are supposed to be paid according to how their companies perform - but pay in recent years has increased far more quickly than performance.

To download the full pdf, click here

Explaining the data
Explaining the data: This research was carried out for the High Pay Centre by Incomes Data Services. You can see the full report at www.highpaycentre.org


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Wednesday, 11 March 2015

The rich get richer, the poor get poorer. What a surprise!

Between 2007 and 2013, cash benefits paid to the richest fifth of the population increased by 42%. For the poorest fifth, benefits fell by 5%

Since the recession, cash benefits have INCREASED for the richest fifth of the population, but declined for the poorest fifth
To download the full pdf, click here

Explaining the data
Here we have relied on a dataset produced by the Office for National Statistics. This data tracks the effects of taxes and benefits on household income over time. The series runs from 1977 to 2013 and is available here (table 14a). These figures are produced based on the average amount of cash benefits, original income and gross income received by households across the income distribution. We have rounded figures to the nearest whole number for clarity, but for accuracy the bottom, middle and top income quintiles of the income distribution saw an average real-term change in their receipt of cash benefits by 4.6%, 3.3% and 41.6% respectively. Calculations are based on RPI deflation

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Saturday, 7 February 2015

Sunday, 30 November 2014

The myth of social mobility in the UK: the rich stay rich and the poor stay poor

Displaying

To download a full pdf, click here

Explaining the data
This data is taken from a study by Miles Corak, Income inequality, equality of opportunity and intergenerational mobility, published in The Journal of Economic Perspectives, volume 27 number 3, pages 79-102 


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Saturday, 22 November 2014

Poorest 80% of population have seen their share of incomes drop since 1979

Displaying

To download the full pdf, click here

Explaining the data
This chart is taken from Professor John Hills’s book 'Changing Lives, Welfare State. Why we really are all in it together’ published by ‘Policy Press’ in November 2014 The figures are taken from earlier analyses by Jenkins SP and Cowell F 'Dwarfs and Giants in the 1980s: Trends in UK income distribution' (1993) and Adams N, Carr J, Collins J, Johnson G and Matejic P, Households Below Average Income: An analysis of the income distribution, 1994/95 to 2010/11(2012). 



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Tuesday, 23 September 2014

Most households would be much better off in a more equal society

The richest 1% in the UK have more than double the share of the richest 1% in Holland or Denmark.


To download the full pdf, click here

Explaining the data
All figures for the share of the richest 1 per cent, plus the UK’s estimated total income, are taken from the World Top Incomes Database via http://topincomes.parisschoolofeconomics.eu.
Of course, if measures were introduced to reduce the share of income going to the richest 1% in the UK, then the £1 trillion total income might also change. But the fact that the share of incomes going to the richest people is much smaller in other modern, prosperous societies like Denmark and the Netherlands  suggests that inequality is not a necessary price of economic success. In fact, research from the International Monetary Fund suggests that inequality hinders economic growth (you can read their paper at http://www.imf.org/external/pubs/ft/sdn/2014/sdn1402.pdf). The benefits of reducing the share of UK incomes going to the top 1% maybe worth even more than £2,500 per household.

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Tuesday, 13 May 2014

The richest 100 people in the UK are as rich as the poorest 19 million. "All in it together"!

The richest 100 people in the UK have as much wealth as the poorest 30% of the population

To download the full pdf click here

Explaining the data

Based on research by the Equality Trust following analysis of the Sunday Times richlist and data from the Office of National Statistics. For full details visit http://www.equalitytrust.org.uk/news/wealth-increase-britains-100-richest-would-pay-175-million-living-wage-jobs. 


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Monday, 28 April 2014

Average worker would take 158 years to earn what CEO earns in a year

You'd need to work until the year 2172 to earn the average FTSE 100 CEO's annual pay
To download the full pdf click here

Explaining the data:
CEO pay of £4.25 million is taken from the Manifest survey of CEO pay, while workers’ pay of £27,000 is taken from the Office of National Statistics Annual Survey of Hours and Earnings.


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Sunday, 20 April 2014

It take a CEO 3 days to "earn" what an average worker earns in a year!

A CEO earns the UK average salary in just three days

To download the full pdf, click here

Explaining the data:
CEO pay of £4.25 million is take from the Manifest survey of CEO pay, while workers’ pay of £27,000 is taken from the Office of National Statistics Annual Survey of Hours and Earnings. To calculate hourly pay, we have (generously) assumed that CEOs take just 10 days annual leave and work an average 12 hours a day, 6 days a week.


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Tuesday, 15 April 2014

Nearly one third of all wealth in UK is inherited not earned

28% of all wealth in the UK is inherited

To download the full pdf click here

Explaining the data:
This is important because wealth ownership in the UK is incredibly unequal and inherited wealth only goes to the richest few. Most people don’t own any wealth whatsoever, while only 13% inherit anything. The original data come from HMRC statistics on inherited estates, and the Attitudes to Inheritance Survey


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Friday, 24 January 2014

How likely are you to inherit?



Download the full pdf here

Explaining the data:
This information comes from a 2011 report by Dr Eleni Karagiannaki at LSE (‘Recent Trends in the size and the distribution of inherited wealth in the UK’). The original data come from HMRC statistics on inherited estates, and the Attitudes to Inheritance Survey. We define ‘real inheritance’ as any inheritance of over £2,000.


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Monday, 2 December 2013

How much of national income do the richest 1% take home

Download the full pdf here.

Explaining the data
Here we have relied upon data produced for the World Incomes Database at the Paris School of Economics, available online http://topincomes.g-mond.parisschoolofeconomics.eu. This data relates to 2009 as it is the most up-to-date available. Because of data limitations figures for all, or even all the countries in the EU, are unavailable so those used are a representative sample.
Reproduced from Inequality Briefing No.8


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Sunday, 13 October 2013

Wealth Inequality in UK

I was drawn attention to this short video clip. Interesting and shocking!

It doesn't have to be this way!





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Friday, 22 February 2013

Wednesday, 10 October 2012

Guest post: Where is my pension?

I was queuing at the bank, it was a long queue, when the man in front of me  got chatting about queues and banks and he told me that he was just about to  retire and had found out that his pension fund was 20 per cent less than anticipated. He knew he had been swindled but he did not know how. This is  the result:

Where is my pension?

The Bank boys say

We gamble and you pay - OK

The Eton boys say

We rule and we stay  - Olé

The Work boys say, as is their way

We always fucking pay

But this time no way - Hosea

This time the Bank and the Eton boys pay

There is no other way.

Ok

Olé

Hosea

© Andi McNib

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Wednesday, 11 April 2012

Guest Poem: Dear Mr. Cameron.....

I was sent this poem by a friend and I thought it worth putting on my blog. I am not sure who the author is, but would like to congratulate them for summing up so eloquently how so many people feel.
Dear Mr. Cameron, you say we're broken and sick
But we're just sick of being broke and putting up with this shit.
Its not pockets of society, it’s about society's pockets
This country eats its young, it’s up to us to stop it
Our Tuition fees tripled and EMA axed
20% V.A.T. and even more and more tax

Tell us Mr. Cameron, how are we supposed to cope?
Growing up with no future, no voice and no hope.
Born into a greedy, materialistic world
Money loving capitalistic little boys and girls

We looted JD and Argos, you say its 'criminal and senseless'
But MPs can take kickbacks disguised as 'expenses'
'Do as I say not as I do' is the governments call
As Banks take the piss and we ALL take the fall
Police and Parliament call us rioters and ‘moral lacking’ vandals
Whilst the Chief Commissioner AND Assistant resign over 'Hacking' scandals

Where do we find good, honest role models to follow?
When our so called should-be leaders are so shallow and hollow
So we're left jaded, misguided and ultimately lost
As we rage against the machine you're just counting the cost
Instead of examining the problem to get to the root
You ignore all the signs and turn a blind eye to truth

Please Mr Cameron don't just react to save face
Don't play Mr. Tough to make the public feel safe
Your 'Fightback' campaign and the 'all nighter' courts
May have sent out a 'message' but justice fell short

BBC and SKY News distorting the facts
Subtlety pitching the whites against blacks
But this ain't about colour, race, or aggression
It's about the corruption that caused the recession

Violence is not acceptable Mr Cameron we agree
But if it wasn't for the riots would you even see me?
Would you see the gangs or the deprived neighbourhoods
Or the fact the property ladder is off bounds for good
We regret loss of life, we regret we caused harm
R.I.P. Shazad Ali, Abdul Musavir and Haroon Jahan

Mark Duggan’s death was not the cause of the riot.
His family's protest was peaceful and quiet.
Still 333 deaths since 1998
By the hands of Police but not ONE prosecution to date
There's only so much a young nation can take.
But you squeeze and you push, and you bend ‘til we break
Then we blow leaving anarchy and chaos in our wake
So learn a lesson Mr Cameron don't repeat the mistake
You have choice wrong or right but which will you choose?
Signed: A generation with nothing to lose.
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Friday, 23 March 2012

Guest Post: Racism and discrimination still pervasive across Europe against backdrop of economic downturn


At a time of  economic crisis, migrants and ethnic minorities are disproportionately affected by  unemployment and precarious working conditions. Economic downturn also creates fears among the general public that incite racist behaviour, while it has led to financial cuts to anti-racism activities in many countries. These are some of the conclusions of
European Network Against Racism’s Shadow Report  on racism in Europe 2010-2011, released on March 21st - UN International Day Against Racism.

Economic turmoil has resulted in increased unemployment across the board, but in particular for ethnic minorities. In Spain for instance, the highest unemployment rates are found among migrants from Morocco and Sub-Saharan countries (with figures close to 50% during the second quarter of 2010).

Several countries also highlight the negative impact of financial cuts on anti-discrimination efforts. In Lithuania, for instance, the national anti-discrimination programme for 2009-2011 received less than 1% of the funding which was initially planned for 2010.

In addition, racially motivated violence committed both by neo-Nazi groups and other perpetrators is on the rise, in parallel to a growing success of far right parties and movements, for instance in the United Kingdom,
Denmark, Hungary, Greece and Poland.

The report also highlights that people of African descent are particularly vulnerable to racism and racial discrimination in several EU Member States, and their visibility heightens this vulnerability.  In the United Kingdom for instance, black people are at least six times more likely to be stopped and searched than a white person. In Latvia, most members of the African community hold university diplomas but few are able to find a job that c

Although EU Member States have transposed EU anti-discrimination legislation into national law, few cases are brought forward and the legal provisions are often not implemented in practice. In most EU countries, there also a shift towards more restrictive migration policies with states seeking to borders, and of those seeking the right to reside within EU territory.

ENAR Chair Chibo Onyeji said:
“Today in particular, on International Day Against Racism, it is worrying to see that racism and discrimination continue to be so pervasive across the EU. Politicians must convey the message that equal access to jobs, housing and schooling are crucial to build a prosperous and cohesive society - all the more so in an economic crisis. We cannot afford to leave whole sections of the population on the sidelines.”
For further information, contact:
European Network Against Racism
Georgina Siklossy, Communication and Press Officer
Tel: +32 (0)2 229 35 70 - Mobile: +32 (0)473 490531 - E-mail: georgina@enar-eu.org - Web: www.enar-eu.org

Brussels, 21 March 2012

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