Tag Archives: office of national statistics

Income inequality at its lowest since 1986 – a good result for the Liberal Democrats in Government?

The Office of National Statistics has released information showing that income inequality is at its lowest rate since 1986.

From the BBC:

The largest fall during this period was a 6.8% drop for the richest fifth of households. They still had an average income, before tax and benefits, of £78,000 in 2011-12.

This was 14 times greater than the poorest fifth of households, who had an average income of £5,400. However, this group has seen their average income rise by 6.9% since the economic downturn.

After all taxes and benefits were taken into account, the top fifth of households had an income of

Posted in News and Op-eds | Also tagged | 44 Comments

What’s happened to real wages over the last 25 years?

This little presentation from the Office of National Statistics has the answer. It’s packed full of interesting information, presented in a very clear manner:

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Economic statistic of the week: who has the bulk of savings?

Today’s statistic is courtesy of the Office of National Statistics and their video podcasts (a rather unpublicised source of information given its clarity, relevance and yet low viewership figures).

This graph looks at pension savings for the age group 54 – 64 held by households and sorts households into deciles based on how much savings they have (not, as is often the case with similar graphs, by income or expenditure). As you can see the 10% of households with the most household saving actually have almost half of all household savings:

ONS savings graph

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Youth unemployment: when one in five isn’t one in five

It normally sounds pretty obvious – you work out the unemployment rate by looking at the number of people in work and the number of people seeking work. But sometimes that leads to rather odd figures, as today’s youth unemployment figures demonstrate.

The Guardian’s headline, One in five young people out of work (headline used on Guardian news page; there’s a longer slightly different headline on the story itself), s pretty typical.

But take your way to page 36, Table 14 and look at the raw numbers and it looks rather different.

Number of 16-24 year-olds: 7,337,000.
Number of 16-24 year-olds unemployed: 963,000

In …

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  • User AvatarMatt (Bristol) 24th Jul - 11:38am
    Frank Booth, I think for some time in historical and ecnomic circles, (due to reading the 50s and 60s in the light of the 70s...
  • User AvatarDavid Evans 24th Jul - 11:35am
    @ Caspian Conran @ Stephen Tall - I do remember there was one such survey , not long ago, which put us in the centre,...
  • User AvatarStephen Tall 24th Jul - 11:24am
    @ ChrisB - "What I got out of this was the overall position seems to have no correlation with election outcomes, or we’d be winning...
  • User AvatarMatthew Huntbach 24th Jul - 11:17am
    Joe Bailey In 2010 the country was disilusioned with New Labour, unwilling to embrace the Cameron?Osborne doctrine and, for once, I thought LibDems could make...
  • User AvatarCaspian Conran 24th Jul - 11:05am
    Hi there , just a quick question. Are voters actually placing nick Clegg and the lib Dems on the centre or are voters actually showing...
  • User AvatarMatthew Huntbach 24th Jul - 11:05am
    Joe Bailey I disagree that there was no alternative to full coalition. I've argued about this at length in the past. It really has not...