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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Recent Comments

  • User AvatarTom Harney 7th Jul - 11:33pm
    As far as attainment by children the highest correlation is with parental income. Poor children have the worst outcomes. The reasons are not hard to...
  • User AvatarJoe Bourke 7th Jul - 11:30pm
    The Church Times has published a call for Universal Basic Income The time for a Universal Basic Income is ripe " Modelling by the RSA...
  • User AvatarGlenn 7th Jul - 10:50pm
    Noncomformistradical That is true of any illness. It suggest better sick pay and better health provision. What it does not suggest is stopping people without...
  • User AvatarNonconformistradical 7th Jul - 10:20pm
    @Glenn "it’s all been a wrongheaded hysterical political fad to combat a virus that is simply not the threat it was made out to be."...
  • User AvatarAlan Jelfs 7th Jul - 9:58pm
    If you want to reduce inequality in education , you need to take the parents out of the picture as much as possible.
  • User AvatarGlenn 7th Jul - 9:38pm
    David Raw I'm not Tim Martin. I just wonder how many job losses, untreated tooth abscesses, crashed businesses, how much social destruction, restrictions on liberty...