Income & wealth
Fall in proportion of children living in low income households
Proportion of children living in housholds below 60 per cent of median household disposable income: by number of children in family, UK (1994/95 to 2001/02 GB only)
• Between 2006 and 2007, growth in real household disposable income per head in the UK at 0.1 per cent was far lower than growth in economic activity overall, as measured by GDP per head (3.0 per cent). (Figure 5.1)
• Average household net wealth per head in the UK more than doubled in real terms between 1987 and 2007, to reach an average of £113,000 per head. (Figure 5.4)
• Wages and salaries formed 81 per cent of the gross income of couple households under state pension age without dependent children in the UK in 2006/07, compared with 38 per cent for lone parent households. (Table 5.7) Latest information on household income
• Full-time employees in the financial sector earned twice as much as those working in hotels and restaurants. In April 2008 median hourly earnings of full-time employees in the financial intermediation sector in the UK were £16.47 compared to £7.00 per hour for employees in the hotel and restaurant sector. (Table 5.11)
• The proportion of children living in households with income below 60 per cent of median disposable income in the UK fell from a peak of 26 per cent in 1998/99 and 1999/2000 to 22 per cent in 2006/07. (Figure 5.18) Latest information on low income
• Around one-quarter of households in the UK had no savings in 2006/07. Households with two adults and no dependent children, where one or both were over state pension age, were most likely to have savings of £20,000 or more. (Table 5.21)
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