This dataset contains statistics presented in the Tracking Financial Vulnerability in the UK project. These statistics include data on six facets that capture a household’s ability to manage daily finances and resist economic shocks: (1) carrying defaulted debt, (2) claiming work-related social benefits, (3) holding a high-cost loan, (4) relying heavily on credit, (5) lacking emergency savings, and (6) using alternative financial products. These components are measured using Lowell’s research and operational data, the UK Financial Lives survey (2017), and data from the UK’s Department for Work and Pensions and the Office for National Statistics and are available by quarter from Q3 2017 to Q2 2020. We create the index by standardizing each component, weighting each component using factor analysis, and normalizing the index from 0 to 100.
These data are a joint project of the Urban Institute and Lowell. Urban and Lowell researchers are collaborating on all stages of the research. In addition, Lowell provides funds and operational and research data used to create the index.
Please see the technical appendix for additional details.
**Update (June 14, 2021): ** We use data from the Financial Lives Survey to measure two of the six components of our index. The Financial Lives Survey components are measured at a higher geographical level (NUTS2) than parliamentary constituency (PCs). All but five PCs—Dumfriesshire, Clydesdale, and Tweeddale; North Ayrshire and Arran; Monmouth; Clwyd South; and Brecon and Radnorshire—lay within a NUTS2 boundary. In the first version of this data feature, published March 22, 2021, we allowed the five PCs to randomly fall into either of the NUTS2 boundaries they straddled. In this update, we assigned the five PCs consistently to one of their NUTS2 regions, so that the regions are the same for all periods. As a result, the data FVI index changed significantly for those 5 PCs. In addition, because all PCs are measured relative to one another in the FVI methodology, the FVI score for all other 645 PCs in the UK changed slightly.
Data and Resources
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Copyright © 2021 Metis Bidco Limited, part of Lowell. All Rights Reserved. Permission is granted for reproduction of these files, with attribution to Metis Bidco Limited, part of Lowell.
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See technical appendix.
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Breno Braga, Signe-Mary McKernan, William J. Congdon, Kassandra Martinchek, Alexander Cather, Caleb Quakenbush, Elizabeth Mandiville, Mark Hayward, and Christopher Trepel. 2021. Tracking Financial Vulnerability in the UK. Urban Institute and Lowell. Accessible from https://datacatalog.urban.org/dataset/tracking-financial-vulnerability-uk.