A year of COVID : the evolution of labour market and financial inequalities through the crisis
Oxford economic papers, 2022, gpac040, OnlineOnly
CROSSLEY, Thomas Fraser, FISHER, Paul, LOW, Hamish, LEVELL, Peter, A year of COVID : the evolution of labour market and financial inequalities through the crisis, Oxford economic papers, 2022, gpac040, OnlineOnly - https://hdl.handle.net/1814/75119
Retrieved from Cadmus, EUI Research Repository
We use high-quality UK panel data to document the extent that pre-existing labour market and financial inequalities were exacerbated by the pandemic between April 2020 and September 2021. Some inequalities worsened, others did not, and in some cases, initial widening of labour market inequalities was subsequently reversed. We find no evidence of an overall divergence in labour market outcomes by gender. Initial changes for ethnic minorities and the young were largely reversed by March 2021. Those in the top third of the long-run income distribution experienced income falls, but also increased saving. Net wealth increased not for only the affluent, but also for middle deciles of the long-run income distribution. These deciles were most protected by the furlough scheme. Those at the bottom of the income distribution were more likely to report a decline in net wealth over the year.
Published online: 28 October 2022
Cadmus permanent link: https://hdl.handle.net/1814/75119
Full-text via DOI: 10.1093/oep/gpac040
ISSN: 0030-7653; 1464-3812
Publisher: Oxford University Press
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