Tag Archives: office for national statistics

Inequality – it’s getting worse

The Office for National Statistics published data yesterday on economic well being. One of the main points from the ONS report was on household property wealth. This data shows that we now have even more inequality between generations. The report reads

The gap in net household property wealth between those aged 30 to 32 and 60 to 62 years has widened in the last 10 years; the net household property wealth of those aged 60 to 62 years was six times that of those aged 30 to 32 years during July 2006 to June 2008, however, this difference increased to 17 times by July 2014 to June 2016.

Also, research showed that consumers’ perceptions of their own financial situation has worsened for three consecutive quarters.

In Quarter 4 2017, the average aggregate balance was negative 1.6 – a decrease from positive 0.7 recorded in Quarter 4 2016. The chart shows a steady drop over the last two years.

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The double dip recession that never was?

Did the double-dip recession ever happen? It looks increasingly possible that it didn’t — the BBC reports the latest revision to the data:

A revision by the Office for National Statistics (ONS) has cast doubt on the UK’s double-dip recession last year. Revised growth estimates now suggest the construction industry shrank in the first quarter of 2012, but by less than previously thought. Analysts say the revision may be enough to mean the overall economy narrowly avoided falling into recession for a second time. The ONS is due to give official confirmation of this in June.

In fact there was a …

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Opinion: Why millionaire graduates should stop whingeing about fees

According to new figures published this week by the Office for National Statistics, graduates earn 85 per cent more than people with only GCSE qualifications over their working lives. Extrapolated over a 40-year career lifetime, graduates are likely to earn almost £1 million more than those on current average pay of some £25,000 pa.

The latest statistics show that the differential has fallen from 95 per cent in 1993, though the level of earnings has increased substantially over those 18 years. Their publication may reopen the debate on student fees – and incite some resentment among non-graduate taxpayers …

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Census preparations to go ahead for 2011

The UK Statistics Authority has confirmed that preparations for the 2011 Census in England and Wales on 27 March 2011 “will now press ahead with all speed”:

The Statistics Authority is determined that, with the full support of the Government and all the other parties concerned, the 2011 Census will be the success that the country needs it to be, and will provide the information about our population which can only be derived from the full-scale Census, which has now been confirmed.

This came in response to an answer by the Minister for the Cabinet Office, Rt. Hon. Francis Maude MP, to a Written Parliamentary Question.
However, the 2011 Census could be the last of its type:

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