Search Results for: labour market

Public transport makes commuting easier and boosts the labour market

Public transport makes commuting easier and boosts the labour market

by • Cities, Features, Flexible working

commuters and public transportFollowing losses of £1.5bn in annual fare revenues incurred during the pandemic, Transport for London recently signed a deal with the UK government for emergency funding. The agreement ensures that new train orders, bridge repairs and tube upgrades will continue as planned. It also will lead to public transport fares rising and bus services being cut. While the Elizabeth Line, a £19 billion east-west addition to the London Underground, opened to great fanfare in May 2022, this year has also seen some of the oldest bus routes in the UK axed: including route 144 between Worcester and Birmingham, route 477 between Dartford and Orpington, and route 84 between north London and Hertfordshire. At least 135 bus routes countrywide currently face cutbacks or permanent cancellation. More →

Labour market confidence surges to nine year high, claims CIPD

Labour market confidence surges to nine year high, claims CIPD

by • News, Workplace

labour market looks upEmployers are indicating strong employment intentions for the third quarter of 2021, with confidence surpassing pre-pandemic levels to hit a nine year high. This is the key finding of the latest quarterly CIPD Labour Market Outlook (LMO) survey, involving more than 2,000 employers and covering all sectors of the economy. The survey claims that its net employment intentions figure, which measures the difference between the proportion of employers expecting to add jobs and those planning to cut them, has risen for the fourth consecutive quarter. The figure now sits at +32, up from +27 last quarter, marking the strongest employer intentions seen since tracking began in Winter 2012/13. More →

Skills gap driven by changing structure of labour market

Skills gap driven by changing structure of labour market

by • News, Technology, Workplace

skills gapRecent years have seen a widespread drop in global unemployment rates but what continues to puzzle economists has been the subsequent failure of wage inflation to follow suit. This has created an unusual phenomenon of wage stagnation across global markets, according to the eighth edition of the Hays Global Skills Index, a report into skills and the skills gap published by recruitment firm Hays in collaboration with Oxford Economics. More →

Mixed messages in labour market, but signs of trouble ahead

Mixed messages in labour market, but signs of trouble ahead

by • Business, Comment

Work-life balanceThere are mixed signals in today’s jobs figures for the UK. Optimists will point to continued record employment, a slight fall in unemployment and earnings growth higher than at any point since the recession – despite everything, the labour market is still going strong. For pessimists though, there are strong signs of things slowing down: vacancies have fallen to their lowest since 2017, the growth in employment is virtually flat, and the number of young people not in employment or education is rising again. So what is really going on? More →

UK could receive £250 billion boost if labour market matched that of Sweden

UK could receive £250 billion boost if labour market matched that of Sweden

by • News, Workplace

The need for a diverse and supportive labour marketNew analysis by economists at PwC claims that, if the UK could match Sweden in terms of its employment rates for women aged 25-54, older workers and the proportion of its young people not in employment, education or training, the potential boost to UK GDP could be as much as 12 percent, or around £250 billion at 2018 values. Although the UK labour market has been strong in recent years – the employment rate is at a record high of over 75 percent and unemployment is at its lowest level since the mid 1970s – new research from PwC indicates that performance is middling compared to other OECD economies. A new composite Labour Market Performance index, combining results from PwC’s Youth Employment, Golden Age and Women in Work indices, finds the UK is 19th overall amongst OECD countries. Iceland and Sweden top the combined index rankings based on the latest available annual data for 2018. More →

CIPD predicts tighter labour market and continued poor productivity next year

CIPD predicts tighter labour market and continued poor productivity next year

by • Legal news, News, Workplace

CIPD predicts tighter labour market and continued poor productivity next year

There is little evidence that the pay squeeze will end soon, with only falling inflation likely to lead to meaningful wage increases next year. This is according to a CIPD analysis, which predicts that 2018 will see pay, productivity and migration top the agenda as the UK looks ahead to its exit from the European Union. It adds that the UK workforce could tighten, and with increased constraints on labour supply, 2018 could be the year that the UK finally runs out of people to fill jobs, despite unemployment levels being unlikely to see much change. There are also indications there will be no improvement in productivity, with continued stagnation in UK productivity, which will remain well below pre-crash levels. In the CIPD’s annual labour market predictions, Ian Brinkley, Acting Chief Economist, anticipates a flattening of employment growth and weak pay growth as the UK continues to struggle with its productivity problem.

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Job mobility and labour markets in Europe continue to be shaped by last recession

Job mobility and labour markets in Europe continue to be shaped by last recession 0

by • News, Workplace

A new report from the European Foundation for the Improvement of Living and Working Conditions (Eurofound) claims that the recent global recession continues to have significant and lasting effects on Europe’s labour markets, including a big drop in employment levels and job mobility, which are yet to recover in many countries almost a decade later. It also affected the structure of employment, accelerating changes and patterns of job polarisation across Europe, in which employment in middle-paid jobs declined more than in jobs at the top and bottom of organisations.

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The digital revolution is polarising the labour market and increasing wage inequality

The digital revolution is polarising the labour market and increasing wage inequality 0

by • News, Technology

The increasing ability of machines to perform cognitive, physical, and social tasks has polarised labour markets by “hollowing out” demand for middle-skill jobs, claims a new report published by IZA World of Labor based on research from economist Michael Gibbs of Chicago Booth School of Business. It suggests that analytical, problem solving, and social and communication skills are likely to be most valued in employees in the future. The new report finds that the advance of technology has opposing effects on jobs. It facilitates automation, creating fewer and less motivating middle-skill jobs. Conversely, it complements social and innovation tasks, creating more interesting low- and high-skill jobs. This causes labour market polarisation, “hollowing out” demand for middle-skill jobs, and increasing wage inequality.

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UK see largest contraction in Labour Force since the 1980s

UK see largest contraction in Labour Force since the 1980s

by • Business, News, Workplace

The final report from the two-year Commission on the Future of Employment Support claims that the UK needs ‘once-in-a-generation reform’ to boost growth and improve living standards in the face of a huge contraction in the country’s labour force. The report suggests that the UK is one of the few developed nations where employment has fallen post-pandemic. The UK has dropped from having the eighth-highest employment rate globally to fifteenth. Had the original position been maintained, the economy would be £25 billion larger annually, with public finances £16 billion better off. More →

Growing numbers of young people feel alienated by jobs market

Growing numbers of young people feel alienated by jobs market

by • News, Workplace

New research from City & Guilds suggests that the odds are being stacked against young people’s futures and career aspirations – particularly the most disadvantaged. Following a trend of chronically high youth unemployment, the poll of 5,000 18-24-year-olds living in the UK claims that 13 percent are currently unemployed (not in work or studying) and a further 3 percent are economically inactive – equating to approximately 859,000 young adults out of work and education across the UK. More →

London office market activity hits post-pandemic high … for smaller, better, greener offices

London office market activity hits post-pandemic high … for smaller, better, greener offices

by • News, Property

london officeA study of the London office market from Gerald Eve suggests that there is now the highest number of lettings since before the pandemic with activity focused on smaller requirements and environmentally friendly buildings. Lettings between 10,000 and 20,000 sq ft made up a significant portion of demand with 713,000 sq ft (or 23 percent) of all activity, which totalled 3.1m sq ft in Q1. Tenants are now voting with their feet for best-in-class space, with sustainability at the forefront of decision making. Post-covid requirements continue to shape the criteria for office space as subjective business-linked or staff retention demands rank higher than overall cost in the search for office space. More →

Retrofit offers the greatest opportunity for a commercial property market beset by uncertainty

Retrofit offers the greatest opportunity for a commercial property market beset by uncertainty

by • Environment, News, Property

Retrofit an opportunity for commercial propertyIn the context of a second major economic shock from war in Ukraine and continuing inflationary concerns, the PWC / ULI report Emerging Trends in Real Estate Global Outlook 2022 focuses on the global outlook for the real estate industry increasing pressure for finance to support the decarbonisation of real estate. The industry challenges lenders and their regulators to provide debt for the retrofit of existing buildings and the scale-up of the ‘climate tech’ needed. More →

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