Change in the UK labour market and the role of worker mobility
Assessing trends in social security to prepare for the decade of change ahead
The UK is facing a decade of unprecedented economic change as we adjust to a post-Covid-19 economy, a new economic context outside the European Union (EU), and the decarbonisation of the economy. And the social security system has a key role to play in the years ahead: it is part of the policy toolkit for helping individuals and the economy as a whole deal with a period of enhanced labour market change, but it also needs to address the legacy problems of slow growth in living standards and high inequality. This report considers how well the UK’s social security system for working-age households is equipped to meet these challenges, and, in particular, how well aligned it is with the country’s likely future economic and social challenges.
Have social security shifts prepared us for economic change? Watch our panel event with Minouche Shafik and Nick Timmins
The modern welfare state is approaching its 75th anniversary, but continual reforms and wider economic change mean that it bears little resemblance to the system first envisaged by William Beveridge. What changes has the welfare state seen in recent decades? How strong is our basic safety net? And how well suited is our social security system for the big economic changes of the 2020s? Watch back our panel event with Minouche Shafik, Director of the London School of Economics and Co-Chair of The Economy 2030 Inquiry, Nick Timmins, Senior Fellow at The King’s Fund and Karl Handscomb, Senior Economist at the Resolution Foundation.
Assessing the permanent implications of Covid-19 for the UK’s labour market
The scale of the Covid-19 crisis, its cause, and the speed at which it hit, have all been different from previous crises. The highly unequal impact on different sectors, the scale of behavioural change – with reduced travel and the shift of spending online – and the very unusual policy response – including the Coronavirus Job Retention Scheme (JRS) – also mark this out as not just any old recession. From remote working to changes in the size of different sectors, Covid-19 has also changed the way that we work. This report, part of the Economy 2030 Inquiry, considers the nature of these labour market developments with an eye on the longer-term changes, and the resulting challenges for policy makers over the rest of this decade.
ABOUT THE INQUIRY
The UK is on the brink of a decade of huge economic change – from the Covid-19 recovery, to exiting the EU and transitioning towards a Net Zero future. The Economy 2030 Inquiry will examine this decisive decade for Britain, and set out a plan for how we can successfully navigate it.
Sir Clive Cowdery
Founder of the Resolution Foundation and chairman of the Resolution Group.
Baroness Minouche Shafik
Director of London School of Economics and Political Science
Professor of International Political Economy at Harvard University
General Secretary of the British Trades Union Congress
Lord Nicholas Stern
I G Patel Chair of Economics and Government, LSE
Dame Carolyn Fairbairn
Former Director-General of the Confederation of British Industry
Kathryn and Shelby Cullom Davis Professor of History at Columbia University