Several shockwaves have been sent through the UK Labour Market over recent years. Covid-19 saw all non-essential economic activity grind to a halt, leaving millions of workers furloughed and a smaller (though not insignificant) number fall out of the labour market due to long-term sickness or caring responsibilities, many of whom are yet to return.
More recently the cost-of-living-crisis has also left its mark, the clearest manifestation being the real-term pay cut most UK workers are currently facing, despite nominal wage growth being at historically high levels – hitting 7.2 per cent in April 2023.
6.1m workers – 3.4m in low insecure work
55% of workers earning below the Living Wage ae in insecure work, compared to 11% of those
earning at or above the Living Wage.
Largest disparity (proportion of insecure work) North East vs Scotland (7%)
Vulnerable groups – minority ethnic workers, young workers, and older workers
More focus on job quality to improve the nature of work and the experience of the UK’s low paid and
Low Pay Commission remit to expand – cover labour standards, amount of notice workers gets for
shifts, strong wage floor.