Living standards for low- and middle-income households will fall until 2020, even if the country enters a golden period of steady economic growth, according to an incendiary analysis of deepening income inequality in Britain.
The study identifies several reasons for the deepening divide in living standards. While new jobs are being created, it finds that many are at the top and the bottom of the income scale, with few in the middle. By 2020, it says, Britain can expect 2m more jobs in high-paid professional and managerial occupations and also growth in low-skilled service roles, with more than 700,000 new positions in retail, caring and leisure. But more traditional jobs in the middle – from skilled administrative roles to skilled manufacturing – are drying up.
Is there a solution for this dreadful prediction?
It also projects a future in which Britain matches the proportion of women in work achieved by the best-performing OECD countries, such as the Scandinavians, which is likely to require a big expansion of childcare provision.
Oh well done there that man. So, we\’ll solve the problem of having an increasing number of low skill and low wage jobs by creating a raft of low skill and low wage jobs in which women look after other peoples\’ children.
Very well done that man. Total friggin\’ genius.