FTAG 1 TT SPTAG 1 TT SPTAG 2 TTImage copyright SPTAG 3 TTChristopher Furlong SPTAG 4 TTImage caption SPTAG 5 TT The earnings gap between humen from poor households and rich ones is widening, the IFS told figcaption >
Men from poor backgrounds are twice as likely to be single in their early 40 s than those from rich families, research indicates.
The Institute for Fiscal Studies( IFS) likewise acquired this group were likely to earn fewer and wed women with lower incomes.
It said the trends constructed poverty more likely to continue from one generation to the next and reduce social mobility.
The government said it wanted to “build an economy that works for everyone”.
Since coming to power, Prime Minister Theresa May has promised to do more for households who are “just about managing”.
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Among other things, she has said it is vital to tackle the shorter life expectancy for those born poor, and the lower chances of white working class sons going to university.
FTAG 2 TT SPTAG 6 TT IMG 2 TT SPTAG 7 TTImage copyright SPTAG 8 TTGetty Images SPTAG 9 TTImage caption SPTAG 10 TT The “Ministers ” has promised to do more for those “just about managing” figcaption >
However, with price increases outstripping wages since the Brexit vote, many employees are getting poorer on average in real terms.
Moreover, median real wages in the UK are still lower than they were before the financial crisis 10 years ago.
HTAG 1 TT’Inequalities widening’ HETAG 1 TT
The IFS based its findings on the most recent long-term learn available, which surveyed people born in 1970 and followed them as they got older.
It found that more than a third of men aged 42 from the poorest fifth of families did not live with a partner in 2012. That compared with merely a seventh from high-income backgrounds.
It told men from disadvantaged backgrounds experienced lower rates of matrimony and higher levels of divorce.
FTAG 3 TT SPTAG 11 TT IMG 3 TT SPTAG 12 TTImage copyright SPTAG 13 TTGetty Images SPTAG 14 TTImage caption SPTAG 15 TT Men from disadvantaged backgrounds experience “lower rates of wedding and higher rates of divorce” figcaption >
It also looked at humen in pairs. It found that the partners of those from richer backgrounds earned more than 70% more than the partners of men from poorer families.
Chris Belfield, studies and research economist at the IFS, mentioned: “As well as having higher earnings, those from richer families are more likely to be in project, more likely to have a partner and more likely to have a higher-earning spouse than those from less well-off backgrounds.
“And all these inequalities have been widening over time.”
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The IFS said it was “well known” that the sons of richer mothers tended to go on to earn more.
However, it said the earnings gap with those from less well-off backgrounds was widening.
In 2012, utilized 42 -year-old men whose mothers were among the richest fifth of households earned on average 88% more than those from the poorest families, it said. Back in 2000 the above figures was only 47%.
RTAG 18 TTIFS director Paul Johnson, told the BBC that social mobility likewise appeared to have fallen over day.
RTAG 19 TTHe said the relationship between the incomes of people born in the early 1970 s and that of their parents was stronger than for people born in the late 1950 s.
RTAG 20 TTThat, combined with the fact that “you’re more likely to marry someone who’s more like you … entails social mobility is even lower and it’s another thing that’s reducing social mobility over time because this relationship between your parents’ incomes and your partner’s earnings has grown over time”.
RTAG 21 TTHowever, a Treasury spokesman said that overall, income inequality had fallen and that more people were in project than ever before.
RTAG 22 TTHe added: “We want to build an economy that works for everyone regardless of their background.
RTAG 23 TT”That’s why we are helping people retain more of what the hell is earn by taking 1.3 million people out of taxation and increasing the National Living Wage which is worth an extra 1,400 a year.”
Losses are steep and user growth is anaemic leaving investors fearful the most recent new Facebook has run out of steam
Is Snapchat the social media app famous for its disappearing messages in danger of doing a vanishing act of its own? Its a question some are asking after investors turned on the company again this week following a second set of poor outcomes which have turned a once-hot tech company into a stock exchange casualty.
The losings alone were steep. Snapchats parent, Snap Inc, lost $443 m over the last three months, compared against $116 m in the same period a year ago. Young tech corporations are expected to burn through money at a prodigious rate as they chase customers, but the main fret for stockholders was anaemic customer growth, missed revenue the aims and the threat from Facebook and Google both of which have facsimile some of Snapchats key features. Imitation may well be the most sincere shape of adulation, but in this case it could also be the most deadly.
On top of these woes, Snap has a fund difficulty. Wall Street were concerned about revenues in a way that Silicon Valley doesnt. Life has changed for Snap Inc and its freshly minted billionaire co-founder, Evan Spiegel, since the company went public in March.
According to marketplace watchers, the Los Angeles-based business has to work out a way to make money fast before rivals eat its lunch. There is a lot of heavy competition and the company has not figured out how to monetise its audience yet, mentioned Salvatore Recco, of the advisory firm 50 Park Investments. Until they do, investors will likely continue to be disappointed.
Investors want to know how much money the company will make, and when. This one-quarter the latter are let down again. With its young, mobile-obsessed customers, Snap offered advertisers a lane to reach the all-important millennial market. But the business, whose main offering is a messaging service where people can use filters to change their faces and voices, is not growing the amount of money attained per patron as quickly as investors had hoped. Shares in Snap were trading at $12.26 on Friday nearly half their opening price of $24 when the business swum in March.
Shareholders are always scouring the tech industry for the next Facebook, and Snap is the latest challenger for the crown or at the least that was the case when it swum on Wall street. The only problem is that Facebook is crushing all beginners. In the second one-quarter of the year, Snap reported that it had 173 million daily active users. Not simply did this undershoot analysts anticipations of 175 million, but it paled in comparison with the 250 million users of Facebooks Instagram Stories, where consumers and businesses can post a string of photographs and videos that like Snapchat messages disappear after 24 hours.
Snap learns itself as two things: a technology firm reinventing the camera( hence the rebrand to Snap Inc and the creation of its Spectacles camera-glasses ), and an MTV for the 21 st century, exemplified by its Discover offering, where media brands post mobile phone-friendly content aimed at millennials. But investors dont genuinely care about the lofty goals that Spiegel reels out in analyst bellows. Being the next MTV is all well and good but investors crave the next Facebook and all the profit-making opportunities that entails.
The flaw in the programme is that Facebook will not sit back and watch Snap steal its thunder, and after three years of trying to alternately buy, clone and undercut its upstart challenger, Facebooks fightback is starting to have an effect.
Snapchats most promising recent launching was Stories, a feature that enables users to post their snaps to a feed that can be viewed multiple times for 24 hours after theyre uploaded. It became the app from a photo messaging service, still( unfairly) saddled with the brand image of teen sexting, to a fully fledged social network.
In the process, it also managed to appeal to users who had grown up wary of posting images to services which catalogue and archive them indefinitely: no employer will find incriminating Snapchat stories from a decade ago, and no date will scroll through a years worth of videos to spy on ex-lovers.
So Facebook copied it. The company now has four separate clones of Tales, in WhatsApp, Instagram, Messenger and Facebook itself. Three of them are far from popular, but Instagram Stories has risen. According to the data firm Snaplytics, while Snapchat has had a downward-going slope in terms of influencer activity, Instagram Stories is gaining more and more traction.
But it is not all doom and gloom: Snapchat still has far deeper participation, with the average user spending more than twice the time in the app than the typical Instagrammer. It is also attaining it easier for advertisers to use the app, analysts say.
This is just as well, because the dream-big plan is fighting. Snap is not taking off as a camera company: the company sold 42,000 camera-spectacles, down 35% on the quarter before. That includes almost a month when the gadget was available outside the US for the first time, to move to vending machine standing forlornly dismissed outside tourist attractions in the UK, France, Germany, Spain and Italy.
However, Snapchats augmented-reality lenses which superimpose special effects like cartoon dog features on users faces remain genuinely popular and have a greater appeal than similar products from Facebook. Even if you are not on Snapchat, you have probably realized people selfie doctored with dog ears.
Now, Snapchat has a third breakthrough filter: a dancing hotdog, that has gyrated virtually on folks screens around the world. It has been viewed, according to Evan Spiegel, by 1.5 billion people, inducing it the worlds first virtual reality hotshot. If grooving meat can be monetised for millions, then Snapchat still has a way out of the doldrums.