London Stalling: Half a Century of living standards in London
London Stalling analyses London's economic and living standards performance over the last 50 years. Its findings counter the idea that London's economy has outperformed the economy of the rest of the UK since the financial crisis.
While London's economy has grown more than the rest of the UK's since 2007, this growth has been driven by rising employment and hours rather than productivity improvements. This employment growth has, in turn, largely come from low-paying, low-productivity sectors. As a result, London's productivity has actually fallen by 1% over the last decade, compared to an increase of 1.5% across the UK as a whole.
For people on low-incomes, though living standards have improved in absolute terms, the capital is probably a more challenging place than ever before in relative terms. Employment rates have improved significantly, and pay is higher too. But the rising housing costs, wealth inequality and the diminished impact of the National Living Wage in London creates unique cost pressures for Londoners.
London has lots of aspects needed for a city to flourish - high employment, a well educated workforce and the highest concentration of high paying sectors in the country. But the city's response to many old and new challenges it faces will determine how Londoner's living standards evolve in the future. This success will greatly affect the UK a a whole, not just because of the importance of London on the wider UK economy, but because many of the issues facing London are problems which the rest of the country must also contend with.
Read the London Stalling report below
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From our Twitter
We are looking for four new trustees with experience in #PropertyInvestment , #PR , #HR and/or #CharityLaw to join us in our mission to tackle poverty & inequality across #London . Help us to spread the opportunity far & wide. Deadline 4th Oct, details here http://bit.ly/2lsdHw62 Sep 2019
It’s not just the ‘North versus #London ’ - it can’t be ignored that the capital has the highest levels of poverty compared to any other UK region. This level of #inequality and this narrative benefits nobody, least of all low income Londoners https://bit.ly/2mqOFxY22 Sep 2019
New @hubbubUK research as part of its #AirWeShare campaign & ahead of London’s 1st #CarFreeDay tomorrow says more than two thirds of workers believe employers should take responsibility to ensure the air their staff breathes in the workplace is safe https://bit.ly/2kLnddV21 Sep 2019
Are you passionate about tackling poverty and inequality in London? Join me as a Trustee of @trustforlondon . We're looking for four new Board members with a strong interest in social justice and expertise in HR, PR/comms, investments, and law. https://www.trustforlondon.org.uk/about/vacancies/trustee-positions-x-4/ …20 Sep 2019