Living standards, poverty and inequality: summary of the latest data for 2018-19

Document type
Briefing
Author(s)
Bourquin, Pascale; Joyce, Robert; Keiller, Agnes Norris
Publisher
Institute for Fiscal Studies
Date of publication
26 March 2020
Series
IFS Briefing note; BN275
Subject(s)
Social Policy, Poverty Alleviation Welfare Benefits and Financial Inclusion, Employment
Collection
Social welfare
Material type
Reports

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The public health response to the COVID-19 pandemic is likely to reduce household incomes as workers lose their jobs, earnings fall, and plummeting share prices and interest rates lead to lower incomes from savings and investments. Newly released official statistics on incomes and poverty in the UK in 2018–19, published by the Department for Work and Pensions (DWP), show this downturn will come after a sustained period of income stagnation in the latter half of the last decade – which itself followed only a brief recovery from the late 2000s recession.

 

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