Showing posts with label Earnings/Wages. Show all posts
Showing posts with label Earnings/Wages. Show all posts

Tuesday, December 1, 2015

Currently about 50 million Americans meet the USDA criteria for food insecurity. About 15 million of them are children.



 

(Brandon Warren / Flickr)

American Hunger-Related Healthcare Costs Exceeded $160 Billion in 2014, According to New Study

Food insecurity, especially for children, remains near record high despite the Great Recession’s official end.

BY Elizabeth Grossman
Currently about 50 million Americans meet the USDA criteria for food insecurity. About 15 million of them are children.

While the official end of the Great Recession is a full five years behind us, there are now nearly 12 million more Americans who lack enough resources to access adequate food than there were in 2007, a number that has only improved slightly since United States food insecurity peaked at over 21 percent in 2009. These statistics alone are disturbing. But as detailed in a new study released today as part of Bread for the World Institute’s 2016 Hunger Report, absence of food security in the U.S. carries enormous healthcare costs, more than $160 billion in 2014.

Using data from the U.S. Department of Agriculture (USDA), Census Bureau and research on food security published in peer-reviewed academic journals between 2005 and 2015, a team of researchers led by Boston University School of Medicine associate professor of pediatrics John Cook, estimated these health care costs by looking at the costs of treating diseases and health conditions associated with household food insecurity plus earnings lost when people took time off work because of these illnesses or to care for family members with illnesses related to food insecurity.

As Cook, who is also research scientist and principal investigator with Children’s Health Watch, explained to In These Times, lack of access to adequate food does not necessarily directly cause a particular illness but “plays a role in that disease occurring.” Years of research consistently shows food insecurity increases the risk for a range of health problems. These risks are particularly great for children but poor and inadequate nutrition also increases risk for adult health problems, including obesity and chronic diseases, among them diabetes, hypertension and cardiovascular disease. It also exacerbates illness duration and severity–in some cases simply because people lack money for medication–and therefore treatment costs.

Putting this in a broader economic context, Bread for the World Institute points out that the U.S. “spends more per capita on health care than any other high-income country but compares poorly with these others on key population health indicators such as life expectancy and child survival. This is due,” report authors, “in part to our tolerance as a nation, for higher levels of poverty and hunger.”

Currently about 50 million Americans meet the USDA criteria for food insecurity. About 15 million of them are children. In 2014, 19.2 percent of U.S. households with children were food 
insecure–about a third higher than households without. The Boston University research team found if the costs of special education for children whose learning abilities are adversely affected by food insecurity are factored in along with related education impacts for high-schoolers, the $160 billion rose by an additional  nearly $18 billion. This brings a total estimate of direct and indirect health care costs of U.S. food insecurity in 2014 to $178.93 billion.



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Thursday, October 29, 2015

England : Malnutrition and Cases of Victorian-era diseases including scurvy, scarlet fever, cholera and whooping cough have increased since 2010


The Independent

Malnutrition and 'Victorian' diseases soaring in England 'due to food poverty and cuts'

Cases of malnutrition and other “Victorian” diseases are soaring in England, in what campaigners said was a result of cuts to social services and rising food poverty.

NHS statistics show that 7,366 people were admitted to hospital with a primary or secondary diagnosis of malnutrition between August 2014 and July this year, compared with 4,883 cases in the same period from 2010 to 2011 – a rise of more than 50 per cent in just four years.

Cases of other diseases rife in the Victorian era including scurvy, scarlet fever, cholera and whooping cough have also increased since 2010, although cases of TB, measles, typhoid and rickets have fallen.
Chris Mould, chairman of the Trussell Trust, which runs a nationwide network of foodbanks, said they saw “tens of thousands of people who have been going hungry, missing meals and cutting back on the quality of the food they buy”.


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The Independent

Malnutrition cases in English hospitals almost double in five years

Admissions to hospitals have soared as poorer families struggle to afford food


The shocking impact of recession and austerity on England’s poorest people has come to light again in figures showing the number of malnutrition cases treated at NHS hospitals has nearly doubled since the economic downturn.

Primary and secondary diagnoses of malnutrition – caused by lack of food or very poor diet – rose from 3,161 in 2008/09 to 5,499 last year, according to figures released by the health minister Norman Lamb.

While the data does not include information on the circumstances of each diagnosis, the rise coincides with a dramatic increase in the cost of living, and a spike in demand for charity food hand-outs.

The figures, broken down by region, reveal the heaviest burden of hunger is being felt in rural areas. Hospitals in Somerset saw the most cases, with 215 diagnoses, followed by Cornwall and Scilly Isles.



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Sunday, October 25, 2015

Goodbye Middle Class: 51 Percent Of All American Workers Make Less Than 30,000 Dollars A Year



End Of The American Dream

The American Dream Is Becoming A Nightmare And Life As We Know It Is About To Change

The Middle Class - Public Domain

We just got more evidence that the middle class in America is dying.  According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than $30,000 a year.  Let that number sink in for a moment.  You can’t support a middle class family in America today on just $2,500 a month – especially after taxes are taken out.  And yet more than half of all workers in this country make less than that each month.  In order to have a thriving middle class, you have got to have an economy that produces lots of middle class jobs, and that simply is not happening in America today.

You can find the report that the Social Security Administration just released right here.  The following are some of the numbers that really stood out for me…

-38 percent of all American workers made less than $20,000 last year.
-51 percent of all American workers made less than $30,000 last year.
-62 percent of all American workers made less than $40,000 last year.
-71 percent of all American workers made less than $50,000 last year.

That first number is truly staggering.  The federal poverty level for a family of five is $28,410, and yet almost 40 percent of all American workers do not even bring in $20,000 a year.

If you worked a full-time job at $10 an hour all year long with two weeks off, you would make approximately $20,000.  This should tell you something about the quality of the jobs that our economy is producing at this point.

And of course the numbers above are only for those that are actually working.  As I discussed just recently, there are 7.9 million working age Americans that are “officially unemployed” right now and another 94.7 million working age Americans that are considered to be “not in the labor force”.  When you add those two numbers together, you get a grand total of 102.6 million working age Americans that do not have a job right now.

So many people that I know are barely scraping by right now.  Many families have to fight tooth and nail just to make it from month to month, and there are lots of Americans that find themselves sinking deeper and deeper into debt.

If you can believe it, about a quarter of the country actually has a negative net worth right now.
What that means is that if you have no debt and you also have ten dollars in your pocket that gives you a greater net worth than about 25 percent of the entire country.  The following comes from a recent piece by Simon Black


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Friday, October 23, 2015

How Rising Rents Are About to Crush American Spending Power





 
 
File:Loz rent car.JPG
  Rent Is Too Damn High Party car
Wikipedia.org
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We just learned America’s rental affordability crisis is as bad as it’s ever been. Unfortunately, it’s about to get a whole lot worse.

The American Community Survey for 2014, released a few weeks ago, found that the number of renters paying 30 percent or more of their income on housing – the standard benchmark for what’s considered affordable – reached a new record high of 20.7 million households, up nearly a half-million from the year before. Despite the improving economy, the increase was nearly five times bigger than last year’s gain.

That means about half of all renters live in housing considered unaffordable. And the latest increase comes on top of substantial growth since 2000 that has seen this number climb by roughly six million households over the period, an increase of about 41 percent.

Related: More Americans Struggling to Pay the Rent
 

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Wednesday, October 21, 2015

Rent is so high in San Francisco that I’m a software engineer and I live in a van



QUARTZ

October 17, 2015
 
About a year ago, I was having lunch with a friend when I made a throwaway comment: “Have you seen the rent in San Francisco? If I get a job in the Bay Area, I’ll totally live in a van.”
As I sit in darkness writing this, I’m trying to keep my typing quiet, lest a real inhabitant of the neighborhood I’m parked in should walk by and wonder about the sounds coming from the rusty bus loitering on their block. Yes, you understood that correctly: Today, I work in a multi-million dollar office complex, and I live in a van.

This summer, after receiving a job offer in Silicon Valley, I went on Craigslist and began sifting through housing listings: “verrrrrryyy cheap bedroom ;),” “great deal on rent!” A single room with a shared bathroom? Two thousand per month on the low-end. A small studio apartment, you ask? If your startup wasn’t recently bought for seven figures, forget about it.

I perked up after finding a listing for $1,000 per month. Now this could work. Clicking through to the details section however revealed the offer was for a single bunk in a room with eight people, a set-up referred to as a “hacker house” by an (evil) marketing genius.

Even if I was to spend the huge majority of my salary on rent, I knew I would likely still be in a grim living situation, resenting every penny I handed over that could have gone towards paying back my student loans. And as a software engineer, I’m one of the lucky ones! Imagine those who aren’t lucky enough to be on the tech payroll.

Anyway, three weeks ago I took the equivalent of three months’ rent and bought an old red bus. It’s a 1969 VW camper van with a hole in the floor and a family of spiders that has more of a right to be here than I do (sleeping in your car on public land in California is illegal).


(Katharine Patterson/blog.thinkkappi.com)
But with the help of Ikea and an army of cleaning supplies I was able to get the bus into livable condition.

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Monday, October 19, 2015

Many Low-Income Workers Say ‘No’ to Health Insurance




MSN News

Many Low-Income Workers Say ‘No’ to Health Insurance

By STACY COWLEY
 

An employee at Golden Corral taking clean cups from the kitchen. Some Golden Corral restaurants began offering health insurance to employees, but few have opted in.© Logan R. Cyrus for The New York Times An employee at Golden Corral taking clean cups from the kitchen. Some Golden Corral restaurants began offering health insurance to employees, but few have…
 
 JACKSONVILLE, N.C. — When Billy Sewell began offering health insurance this year to 600 service workers at the Golden Corral restaurants that he owns, he wondered nervously how many would buy it. Adding hundreds of employees to his plan would cost him more than $1 million — a hit he wasn’t sure his low-margin business could afford.
His actual costs, though, turned out to be far smaller than he had feared. So far, only two people have signed up.

“We offered, and they didn’t take it,” he said.

Evidence is growing that his experience is not unusual. The Affordable Care Act’s employer mandate, which requires employers with more than 50 full-time workers to offer most of their employees insurance or face financial penalties, was one of the law’s most controversial provisions. Business owners and industry groups fiercely protested the change, and some companies cut workers’ hours to reduce the number of employees who would be eligible.

But 10 months after the first phase of the mandate took effect, covering companies with 100 or more workers, many business owners say they are finding very few employees willing to buy the health insurance that they are now compelled to offer. The trend is especially pronounced among smaller and midsize businesses in fields filled with low-wage hourly workers, like restaurants, retailing and hospitality. (Companies with 50 to 99 workers are not required to comply with the mandate until next year.)


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Friday, October 9, 2015

Hundreds of outraged Air France staff stormed a meeting where Company plans to cut 2,900 jobs were being discussed. Execs had shirts torn from their backs as they escaped the angry mob


No need to get shirty! Air France executive is forced to climb a fence after staff attack him and rip off his shirt when he announces 2,900 job losses

  • Air France executives attacked after staff stormed company headquarters
  • Company plans to cut 2,900 jobs and 14 aircraft from its long-haul fleet
  • HR vice president and long-haul flights deputy had their shirts torn off
Air France managers have been forced to flee the company's headquarters after being attacked by a baying mob of workers that tore their clothes off.
Hundreds of angry staff stormed the Air France building at the Charles de Gaulle International Airport in Roissy, near Paris, after the company announced plans to cut 2,900 jobs on Monday.
Two senior executives, Xavier Broseta, Vice President for Human Resources, and Pierre Plissonnier, deputy of Air France long-haul flights, both had their shirts ripped off their backs as they were evacuated through the crowds.

Under attack: A shirtless Xavier Broseta, Executive Vice President for Human Resources at Air France, is evacuated by security after employees interrupted a meeting with representatives staff at the Air France headquarters building at the Charles de Gaulle International Airport in Roissy, near Paris
Under attack: A shirtless Xavier Broseta, Executive Vice President for Human Resources at Air France, is evacuated by security after employees interrupted a meeting with representatives staff at the Air France headquarters building at the Charles de Gaulle International Airport in Roissy, near Paris
Shortly before the attack, Mr Broseta and Air France Chief Executive Frederic Gagey had outlined a drastic cost cutting plan, which would see 2,900 jobs cut by 2017.
The cuts include 1,700 ground staff, 900 cabin crew and 300 pilots, as part of efforts to lower costs, two union sources said.
Air France also confirmed in the meeting that it plans to shed 14 aircraft from its long-haul fleet, reducing the business by ten per cent, and that it wants to cancel its order for Boeing 787 Dreamliner aircraft.
This outraged staff, who are already at loggerheads with the company, and hundreds stormed the building, interrupting the meeting.

  
Mr Broseta and Mr Plissonnier were aided by security as they tried to escape the baying mob

102.6 million working age Americans without jobs right now. That is not an economic recovery – that is an economic depression .

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File:FEMA - 29783 - Workers unemployed by the freeze in California.jpgUnemployment Line  -  Wikipedia.org

The Economic Collapse

Right Now There Are 102.6 Million Working Age Americans That Do Not Have A Job

 
The federal government uses very carefully manipulated numbers to cover up the crushing economic depression that is going on in this nation.  For the month of September, the federal government told us that 142,000 jobs were added to the economy.  If that was actually true, that would barely be enough to keep up with population growth.  Sadly, the truth is that the real numbers were actually far worse than that.  The unadjusted numbers show that the U.S. economy actually lost 248,000 jobs in September and the government added more than a million Americans to the “not in the labor force” category.  When I first saw that number I truly believed that it was inaccurate.  But you can find the raw figures right here.  According to the Obama administration, there are currently 7.9 million Americans that are “officially unemployed” and another 94.7 million working age Americans that are “not in the labor force”.  That gives us a grand total of 102.6 million working age Americans that do not have a job right now.

That is not an economic recovery – that is an economic depression of an almost unbelievable magnitude.

This is something that my friend Mac Slavo pointed out the other day.  I encourage you to read his analysis right here.  If we measured unemployment the way that we did decades ago, we would all be talking about how similar Obama’s economy is to the Great Depression of the 1930s.
But instead we let the feds get away with feeding us this completely fraudulent “5.1 percent” unemployment number and most of us believe the mainstream media when they tell us that everything is just fine.


Read More Here

102.6 million working age Americans without jobs right now. That is not an economic recovery – that is an economic depression .

...
File:FEMA - 29783 - Workers unemployed by the freeze in California.jpgUnemployment Line  -  Wikipedia.org

The Economic Collapse

Right Now There Are 102.6 Million Working Age Americans That Do Not Have A Job

 
The federal government uses very carefully manipulated numbers to cover up the crushing economic depression that is going on in this nation.  For the month of September, the federal government told us that 142,000 jobs were added to the economy.  If that was actually true, that would barely be enough to keep up with population growth.  Sadly, the truth is that the real numbers were actually far worse than that.  The unadjusted numbers show that the U.S. economy actually lost 248,000 jobs in September and the government added more than a million Americans to the “not in the labor force” category.  When I first saw that number I truly believed that it was inaccurate.  But you can find the raw figures right here.  According to the Obama administration, there are currently 7.9 million Americans that are “officially unemployed” and another 94.7 million working age Americans that are “not in the labor force”.  That gives us a grand total of 102.6 million working age Americans that do not have a job right now.

That is not an economic recovery – that is an economic depression of an almost unbelievable magnitude.

This is something that my friend Mac Slavo pointed out the other day.  I encourage you to read his analysis right here.  If we measured unemployment the way that we did decades ago, we would all be talking about how similar Obama’s economy is to the Great Depression of the 1930s.
But instead we let the feds get away with feeding us this completely fraudulent “5.1 percent” unemployment number and most of us believe the mainstream media when they tell us that everything is just fine.


Read More Here

Friday, October 2, 2015

Fed blames 94 million Americans out of work for simply not wanting a job



October 2, 2015 2:18 PM MS


Wall Street
Wall Street
Photo by Spencer Platt/Getty Images

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There Are Not Enough Jobs, And Austerity Is To Blame

The September jobs report is spooking even the optimists.


The especially poor September jobs report reinforces what many economists have been saying for months: The six-year recovery from the Great Recession has been too weak to create enough jobs for America's growing population, let alone restore significant wage growth. 

Domestic fiscal austerity, not recent global volatility, is primarily to blame for the inadequate job growth, these economists argue.

The U.S. economy created 142,000 jobs in September, bringing average monthly job growth to 198,000 this year -- way down from the monthly rate of 260,000 in 2014. Average hourly wages decreased slightly in September, meaning pay has risen just 2.2 percent in the past 12 months. 
In addition, the percentage of the population working or looking for work has dropped to 62.4 percent, the lowest it has been during the Obama presidency. The progressive Economic Policy Institute estimates that we need 2.6 million more jobs to keep up with population growth.



 
 
To keep up with population growth, we still need 2.6 million more jobs.
Embedded image permalink
 
 
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Wednesday, September 30, 2015

Campaign: Clinton didn't sign form for aide Huma Abedin's special status

 

Hillary Clinton's campaign said the former secretary of state did not personally sign the paperwork that shifted then-Deputy Chief of Staff Huma Abedin's position to a "special government employee" status, allowing the longtime Clinton aide to work at the State Department at the same time she was advising a private consulting firm and the Clinton Foundation.
Clinton spokesperson Brian Fallon confirmed to CBS News that Cheryl Mills, the then-secretary's chief of staff, was the official who signed off on Abedin's change to SGE status.
Through a Freedom of Information Act request, conservative watchdog group Judicial Watch obtained documents authorizing the title change that showed the former secretary of state listed as an "Immediate Supervisor" to Abedin. The form, in a "supervisory certification," reads: "I certify that this is an accurate statement of the major duties and responsibilities of this position and is organizational relationships, and that the position is necessary to carry out Government functions for which I am responsible." Hillary Clinton's typed name and title appear in the box below it.
The documents were signed March 23, 2012, though the State Department has blocked out the signature.

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Huma Abedin, long-time aide of former Secretary of State Hillary Rodham Clinton, was paid by a private firm to help stage an event with former President Bill Clinton. (Associated Press)
Huma Abedin, long-time aide of former Secretary of State Hillary Rodham Clinton, was paid by a private firm to help stage an event with former President Bill Clinton. (Associated Press) more >
- The Washington Times - Tuesday, September 29, 2015
While still working at the State Department, Hillary Rodham Clinton confidante Huma Abedin was paid by the private consulting firm Teneo Holdings to help stage a star-studded reception that included her boss’ husband, Bill Clinton, along with George W. Bush and former British Prime Minister Tony Blair as speakers just days after the Benghazi tragedy, The Washington Times has learned.
Ms. Abedin’s work on the Sept. 20, 2012, event at the glamorous Essex House in New York City, helped entertain potential Teneo clients, wowing them with access to three former world leaders on a single stage.
It was one of the specific projects she worked on with Teneo during a seven-month period in which she earned a $15,000-a-month consulting fee from the firm while simultaneously receiving pay as a “special government employee” advising Mrs. Clinton at the State Department, according to interviews and documents.
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Hillary Rodham Clinton personally signed the controversial deal in 2012 that let her top aide Huma Abedin simultaneously work for the State Department and a private New York firm with deep ties to the Clinton family, according to records made public Thursday. (Associated Press)
Hillary Rodham Clinton personally signed the controversial deal in 2012 that let her top aide Huma Abedin simultaneously work for the State Department and a private New York firm with deep ties to the Clinton family, according to records made ... more >
- The Washington Times - Thursday, September 24, 2015
Hillary Rodham Clinton personally signed off on the controversial deal in 2012 that let her top aide Huma Abedin simultaneously work for the State Department and a private New York firm with deep ties to the Clinton family, according to records made public Thursday.
The State Department emails released to select congressional committees and the watchdog group Judicial Watch also show that almost immediately after Ms. Abedin got permission to work in New York for the Teneo Group, she tried to get the federal government to pay the cost of her commuting back and forth to Washington to serve as a senior adviser to Mrs. Clinton, who was then the secretary of state.
“I need to come down to state tomorrow. Can state start paying for my travel since ny is now my base?” Ms. Abedin asked in an email to a top State Department administrative official on March 27, 2012, around the time her deal to become a special government employee (SGE) was struck.

Read More Here

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Huma Abedin, a longtime assistant to Hillary Rodham Clinton, has been under investigation for a $33,000 payout from the State Department. (Associated Press)
Huma Abedin, a longtime assistant to Hillary Rodham Clinton, has been under investigation for a $33,000 payout from the State Department. (Associated Press) more >
 
- The Washington Times - Wednesday, September 9, 2015
Federal investigators formally investigated top Hillary Rodham Clinton aide Huma Abedin for the crime of embezzlement after confirming she took a “Babymoon” vacation and maternity time at the State Department without expending her formal leave, resulting in thousands of dollars of pay she wasn’t entitled to receive, The Washington Times has learned.
The probe also gathered evidence she filed time sheets charging the government for impermissible overtime and excessive hours after she converted from a full-time federal employee to a State Department contractor.
Those time-cards were filed during a period that remains under investigation over questions about possible conflicts of interest, documents gathered by the State Department inspector general show.

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Over 300 New York City municipal employees didn’t earn enough to be able to afford a placte to live, the mayor has offered to find them permanent housing.

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© Zoran Milich
Responding to a New York Post report stating that more than 300 New York City municipal employees didn’t earn enough to be able to afford a place to live, the mayor has offered to find them permanent housing.
 
During a press conference on Monday, New York Mayor Bill de Blasio admitted there were people working for the city that were homeless, though he disputed the number initially reported.
What we’re facing now, this is becoming more and more of an economic problem. Meaning people have been displaced from their homes by the high cost of housing, even if they’re working,” de Blasio said at City Hall.

We’re going to make sure in every case, particularly with working folks, that we look for every opportunity to get them to permanent housing.

The mayor questioned whether the number of homeless city employees was over 300, with his spokeswoman Ishanee Parikh saying records showed that only 83 shelter residents have identified themselves as city employees.
View image on Twitter
De Blasio vows to put a roof over homeless city workers’ heads http://nyp.st/1NIMFoP 
Municipal union leaders told the Post, however, that the actual number is over 300, but many don’t report their employment status to shelters out of shame.

“There’s a social taboo that they believe comes with being homeless,” Joseph Puleo, president of Local 983 of District Council 37, the city’s largest blue-collar municipal-workers union, told the Post.



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Friday, September 25, 2015

Days of Rage Are Coming : We are fast approaching another moment in history that disabuses what's left of the middle class of their fantasy that they matter.

 

Time to Trade in Your Jag, Benz, BMW for a Dented Econobox: Days of Rage Are Coming

The resistance will take the form of subverting the signifiers of wealth that exemplify the few who have benefited so greatly while everyone else lost ground. 

It's time to trade in your Jag, Mercedes, BMW (and maybe your Prius, Volvo, Lexus, etc.) before the Days of Rage start. As I've explained before ( As the "Prosperity" Tide Recedes, the Ugly Reality of Wealth Inequality Is Exposed), the rage of the masses who have been losing ground while the Financier Oligarchs, the New Nobility and the technocrat class reap immense gains for decades has been suppressed by the dream that they too could join the Upper Caste.
But once the realistic odds of that happening (low) sink in, the Days of Rage will begin. For those still who don't know the facts of rising inequality, here's what you need to know.
The top 1% skim 23% of all income:
While the top 5% has enjoyed substantial income gains over the past 45 years, adjusted for inflation, the bottom 90% have lost ground:
The last time there was mass unrest in America was the civil rights/Vietnam War era. The power of the civil rights movement arose from the core injustice of segregation (separate and unequal) and institutionalized racism/bias. This institutionalized injustice drew people from all classes and ethnicities into the streets, where they were promptly beaten by police.
 
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Friday, May 16, 2014

UK - Self-employed earn fifth less than in 2008, and 40% less than typical employee

Collapse in pay lies behind Britain’s return to work: Self-employed are hidden victims of recession, report warns





The study by the Resolution Foundation think tank reveals the dark side of the sharp growth in self-employment, which has helped the Government to maintain its boast that unemployment is falling as more and more people find work.
Since the start of the recession five years ago, the number of self-employed has risen by 650,000 to 4.5 million. They now represent 15 per cent of the active workforce.
But the new analysis reveals that the average weekly income of someone in self-employment is 20 per cent lower than in 2008.  As a result, a typical self-employed worker now earns 40 per cent than a typical employee.  An Ipsos-Mori survey commissioned as part of the report also found that 27 per cent of those who became self-employed in the past five year do so because they had no other choice - up from 10 per cent five years ago.
Gavin Kelly, chief executive of the Resolution Foundation, said: “Self-employment is often a highly precarious existence which isn’t that well supported by public policy. High levels of self-employment seem likely to be here to stay and policy-makers have some catching up to do.”
The grim truth about pay and living standards in some the regions of the UK has also been highlighted by official EU figures showing that parts of Britain are effectively poorer that countries from  former communist countries in Eastern Europe.
People in Cornwall and the Welsh Valleys are worse off than residents of Estonia and Lithuania, according to Eurostat figures comparing wealth across the EU using a measure known as “purchasing power standards” - which takes into account GDP per person and cost of living.
In addition, Durham and the Tees Valley, in the north east of England, are poorer than those in the wealthiest regions of Bulgaria and Romania, the two most deprived countries in the EU.
By contrast, the Eurostat figures show that London is the richest place in Europe.
According to the Resolution Foundation report, self-employed people are more likely than people in full time employment to complain of being under employed.

Read More Here

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Pension fears for rising number of self-employed

Higher levels of self employment have become a permanent feature of the UK economy as a result of Britain’s ageing workforce and a greater desire for Britons to “work for themselves”.
The Resolution Foundation said the increase in self-employment also presented a “worrying picture of the security and vulnerability of self employed people”, who have traditionally saved less for retirement than employees. Photo: PA

Higher levels of self employment have become a permanent feature of the UK economy as a result of Britain’s ageing workforce and a greater desire for Britons to “work for themselves”.
The number of people who are self employed has grown by 650,000 since the 2008 financial crisis, to 4.5m, meaning one in seven workers is now self employed.
While some of the shift towards self-employment has been caused by cyclical factors, the Resolution Foundation said 73pc of workers had chosen to become self-employed. “The high self-employment numbers are here to stay,” said Laura Gardiner, a senior policy analyst at Resolution Foundation.
The rise in self employment has attracted attention from the Bank of England, where policymakers have argued over whether the increase reflects structural changes in the UK economy or “disguised labour market slack” because many of these workers would prefer to be working full-time.
While the Foundation said there was less slack in the economy caused by self-employment than some policymakers believed, it said underemployment among these workers was “marginally worse than for employees”, representing a reversal of the pre-crisis trend.

Read More Here

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