When you think about your income, spending, savings, and any property you own, do you consider yourself richer or poorer than average? 💰
Use our new calculator which compares your financial situation with other households (data is from pre #COVID19) 🧮 ow.ly/bYZ650IeIJp
1 in 3 households spent more than their income before #COVID19 💳
Some households may be able to maintain higher spending by using financial buffers accumulated over their lifetime, but others may need to make cutbacks, or borrow, to make up the shortfall.
Smaller households were the most likely to be spending more than their income and those not retired lacked a sufficient financial buffer.
A financial buffer is made up of cash (money in current accounts), savings and other easy-to-access assets such as shares.
Households in the North East were vulnerable to budgets being squeezed.
They were among the most likely to be overspending (39%), with a financial buffer that would last only seven months on average.
Around 2 million British households (7%) were in poverty for income, spending and financial wealth before #COVID19.
Households were most commonly in financial wealth poverty (42%).
Among UK regions and countries:
▪️ the North East of England had the highest rate of financial wealth poverty before #COVID19 (51%), and the South East had the lowest (33%)
▪️ households in the West Midlands were the most likely to be in poverty for all measures (11%).
People living alone were the least likely to be in all three types of poverty, while parents were the most likely.
Lone parent households were worst off, with almost a third (31%) in poverty for income, spending and financial wealth ow.ly/bYZ650IeIJp
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We've led the development of a new method for estimating the number of excess deaths across UK countries.
Julie Stanborough talks us through the data released today and how this new method will give us a better understanding in this complex area ➡️ ons.gov.uk/peoplepopulati…
Expected number of deaths used to calculate excess mortality is now estimated from age-specific mortality rates rather than death counts, so changes in population size and age structure are taken into account. Our new method also accounts for trends in population mortality rates.
In 2023, the new method estimates 10,994 excess deaths in the UK, which is 20,448 fewer than the current method.
We've published a new article exploring the disability, health status, ethnic group, religion and employment of people of different sexual orientations (aged 16 years and over) in England and Wales using #Census2021 data.
#Census2021 included a voluntary question about sexual orientation of usual residents aged 16 and over:
▪️ 89.4% said they were straight or heterosexual
▪️ 3.2% identified as lesbian, gay, bisexual or another sexual orientation (LGB+)
▪️ 7.5% did not respond to the question
People who identified as LGB+ were younger on average, with a far higher proportion aged between 16 and 34 years (57.9%) than in the overall population of England and Wales (29.6%).
However, different LGB+ sexual orientation groups had markedly different age distributions.