Nowcasting household income in the UK: Financial year ending 2015

29 Oct 2015 09:36 AM

Main points

• This is the first edition of a new experimental release designed to provide provisional estimates for measures of the distribution of household income significantly ahead of the main estimates produced from household surveys.
• The provisional estimate of median household disposable income for 2014/15 is £25,600. This is £1,500 higher than its recent low in 2012/13, after accounting for inflation and household composition, and at a similar level to its pre-downturn value (£25,400).
• Median income for retired households continued to increase following the economic downturn and provisional estimates for 2014/15 suggest it is now £21,100, which is £1,800 higher in real terms than in 2007/08 (£19,300).
• By contrast, the provisional 2014/15 value of median income for non-retired households is £28,100, which remains around £800 below its pre-downturn level (£28,900).
• Early estimates of income inequality in 2014/15 are broadly unchanged from those for the previous financial year. Since 2007/08, there has been a slight decrease in inequality on a range of measures.

Get all the tables for this publication in the data section of this publication.