Yesterday, The Resolution Foundation reported that low and middle-income households may not benefit economically and their living standards could stagnate over the next 10 years.
In response to news that the UK economy has pulled out of recession in the third quarter of this year, it has been reported by think-tank The Resolution Foundation that low and middle-income households will not benefit economically and that their living standards could instead stagnate over the next 10 years. The report attributed this to the demise of administrative and manufacturing jobs in the UK economy.
According to the BBC, the economy's annual output is still no higher than it was at the start of 2007 and since mid-2009 the official unemployment rate has been hovering around 8%. The Resolution Foundation has suggested that high unemployment will continue to depress wage levels and called for state subsidies to boost employment.
The full story can be found here.