Today's labour market data shows the lockdown 'deep freeze' in the labour market easing, but the big test is yet to come. Thread on what to focus on (and what not to!): resolutionfoundation.org/press-releases… Big picture: The number of employees being paid fell 650k between March and May (i.e. furloughed workers, who are paid, don't explain the fall). This hasn't shown up in the official employment rate because many not being paid still think they're employees: blog.ons.gov.uk/2020/07/16/a-c…

What would a Budget for intergenerational fairness include? New @resfoundation analysis ahead of the first Autumn Budget in 12 days' time: resolutionfoundation.org/publications/a… Some have suggested tax breaks for the young to the Chancellor, but this mainly helps the richest 20-somethings and adds complexity to the tax code.