Continuing stagnation of real wages, the erosion of job security and rise of zero hour contracts, job loss driven by automation, mean that the reality of employment for many in the UK is increasingly precarious, with many working full time jobs unable to make ends meet. In 2018 Joseph Rowntree said number of workers in poverty had 4 million meaning that about 1 in 8 people are now classed as working poor.
Community wealth building not only aims to improve employment opportunities but also worker rights by, for example, promoting recruitment from lower income areas, inclusive employment practices, committing employers to the paying living wage and building progression routes for employees.
Often the biggest employers in a place, the approach anchor institutions take to employment can have a defining effect on the employment prospects and incomes of local people. Working with human resource departments within anchor institutions to stimulate the local economy through progressive employment and local labour market activities has proved a powerful tool.