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
Traineeships and apprenticeships can be fantastic routes into skilled work. But for too many single parents, the barriers of low pay and a lack of childcare can make them difficult to access @Gingerbread https://bit.ly/2HCL5cx pic.twitter.com/pEYCuvVveC21 Mar 2019
The new report from @WeAreBrightBlue recommends that Universal Credit claimants are offered a one-off upfront ‘helping hand’ payment to alleviate the impact of the current five week waiting period https://bit.ly/2F969oa20 Mar 2019
"Every one of our campaigns is driven by our community, written by people who are directly experiencing these problems & setting the strategy to win change themselves." Great insight on some of the early wins from @organisehq Good to see #workervoice supported by @trustforlondon https://twitter.com/trustforlondon/status/1106624855305146371 …19 Mar 2019