The importance of income security
The recent introduction of the National Living Wage and an increase in the tax-free Personal Allowance are welcome policies aimed at increasing income for working households. But it is not the whole story. New evidence from Citizens Advice reveals the security of that income – and of people’s employment in general – has been an overlooked piece of the labour market puzzle.
This research [ 99 kb] is based on new analysis of insecurity in the labour market, alongside polling of 1,135 people about what makes them feel secure. It finds 4.5m people in England and Wales are in some form of insecure work. It also highlights the importance people attach to a stable income, the significance of this to their wider feelings of security, and the potential benefits of greater income security for both employers and government.