The Living Standards Outlook 2023 - Mike Brewer, Emily Fry & Lalitha Try

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The Living Standards Outlook 2023 - Mike Brewer, Emily Fry & Lalitha Try

8 Jan 2023

42 per cent of workers in the bottom income quintile reported that they had tried to cut back a lot on overall spending, twice as many as in the top income quintile, and 63 per cent of workers in the bottom income quintile reported being worse off since the start of 2022, compared to 50 per cent of workers in the top income quintile. [...] We also published a shorter update of the Living Standards Outlook 2022 later in the year, to account for the deepening of the cost of living crisis: A Corlett & L Try, In at the deep end: The living standards crisis facing the new Prime Minister, Resolution Foundation, September 2022. [...] 42 per cent of workers in the bottom income quintile reported that they tried to cut back a lot on overall spending, twice as many as in the top income quintile, and 63 per cent of workers in the bottom income quintile reported being worse off than the beginning of 2022, compared to 50 per cent of workers in the top income quintile. [...] The cost of living crisis is having widespread effects across the UK While the pandemic was the pre-amble, a huge shock to people’s finances has taken place in 2022 This Section reports results from an online YouGov survey of more than 10,000 adults; the survey was conducted in late November (23 to 30 November), and is the first of three that we will commission to study the impact of the cost of l. [...] Confirmation that the cost of living crisis is driving this decline in mental health comes from our finding that 21 per cent of people say that their health has been negatively affected by the rising cost of living, rising to 34 per cent of workers in the bottom income quintile, and 32 per cent of those not in employment.
Pages
90
Published in
United Kingdom

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