The incomes of those in their 60s and 70s have continued to rise since the recession. In contrast, median (middle) income among peoploe in their 20s fell by 12% between 2007-8 and 2011-12, after adjusting for inflation- the largest fall of any age group.
These among the findings of a new report by IFS researchers published on 14 June 2013: Living Standards, Poverty and Inequality in the UK: 2013, funded by the Joseph Rowntree Foundation. The research is based on the government's Households Below Average Income data, an analysis of which was published om 13 June 2013 by the Department for Work and Pensions.
Authors
David Phillips
David is Head of Devolved and Local Government Finance. He also works on tax in developing countries as part of our TaxDev centre.
Robert Joyce
Robert is a Deputy Director. His work focuses on primarily on the labour market, income and wealth inequality, and the design of the welfare system.
Jonathan Cribb
Jonathan is an Associate Director and Head of Retirement, Savings and Ageing sector, focusing on pensions, savings and later-life economic activity.
Andrew Hood
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