Search Results for: income

More nations trial universal basic income as report suggests it could provide a major economic boost

More nations trial universal basic income as report suggests it could provide a major economic boost

The much talked about idea of a Universal Basic Income in developed economies is now attracting greater political momentum, at the same time that a major new research project from an American think tank sets out the potential economic benefits. Yesterday, Scotland’s First minister Nicola Sturgeon called for research into the plausibility of a “citizens’ basic income” in a speech to the Scottish Parliament. Her appeal follows an announcement on the same day that Hawaii is to become the first US state to formally explore the idea. A trial is already under way in Finland, although a recent report in the New York Times suggests it is deeply flawed.

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The partners of men with flexible working hours have higher incomes

The partners of men with flexible working hours have higher incomes

A new study suggests that the partners of men who have access to flexible working earn significantly more than those who have more rigid working cultures. The study of German couples, conducted by Dr Laura Langner at the University of Oxford’s Department of Sociology, explored changes in incomes once at least one partner is able to begin flexible working. The study suggests that once men started working flexible hours, their wives’ hourly wages increased significantly, particularly if they were mothers (14.2 percent after four years). The husband’s own hourly wages also increased by 7.4 percent over the following four years.

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Podcast: Is universal basic income a Utopia for realists?

Podcast: Is universal basic income a Utopia for realists? 0

At his recent Harvard commencement ceremony, Facebook founder Mark Zuckerberg addressed the issue of universal basic income. In his speech he articulated the underlying premise of basic income as a way of redefining our relationship with work and society. “Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract,” Zuckerberg said. “We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to give everyone a cushion to try new things.”

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Universal basic income is an idea whose time has come at last

Universal basic income is an idea whose time has come at last 0

Universal basic incomeIt is no longer a question of whether one of the world’s major economies will introduce a universal basic income for all of its citizens, but when. Over the weekend, the leader of the UK’s Labour Party Jeremy Corbyn announced in an interview in the Huffington Post that he was ‘instinctively looking’ at an idea that is already being discussed and piloted in Switzerland, the Netherlands, Norway and Canada. Corbyn may be one of the current glut of what would have once been political outliers in the Western World, but the idea of a universal basic income is one that is increasingly accepted in mainstream economic thinking. The RSA continues to campaign for it and has even put a number on it, suggesting that every UK citizen should be offered £308 between the ages of 25 and 65. Andrew Flowers offers up a masterful and detailed analysis of the economic and political issues involved in this piece on fivethirtyeight.com.

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Growing number of people past retirement age still work to boost income

Growing number of people past retirement age still work to boost income 0

grey poundFor all that everybody bangs on about Millennials, it’s increasingly apparent that the workforce in most nations is actually getting older and that it’s not just Governments who are keen to keep older staff in work, but also people themselves. A new study from MetLife based on Government data claims that nearly one in seven over-65s in the UK are boosting their retirement income by working, earning around £296 in addition per week. The data suggests that the numbers of over-65s working has increased from just 8 percent of the pensioner population to 13 percent in the last ten years, the equivalent of 1.1 million people.  Median earnings from working are £296 a week adding up to annual pay of nearly £15,400. The need to keep working is underlined by the continuing squeeze on saving and investment income, which generates just £312 a year for pensioners on average. The proportion of pensioners earning money from investments has dropped from 72 percent in 2004/05 to around 64 percent now. Around 72 percent of all pensioners have private or company pensions compared with 66 percent a decade ago.

Value of offices and property rental income across the UK hit two year high

Manchester Media CityThe value of commercial real estate in the UK rose for the fourth consecutive month during August, led by increases in the average value of offices, according to a report from Investment Property Databank (IPD). The average value of offices, warehouses, retail and industrial rose by a 0.4 percent across the country. Office buildings rose by 0.6 percent during the month while total return, which combines changes in real estate values and rental income, was 0.9 percent, to reach the highest level since March 2011. The report claims the upturn is down to the wider economic upturn and persistent  low interest rates which incentivise investors to acquire high income generating assets. The report also notes that investors are looking to acquire more property outside of London as the economic recovery spreads across the UK. More →

Roboquitting is the latest workplace trend to emerge in the era of hybrid working

Roboquitting is the latest workplace trend to emerge in the era of hybrid working

Hybrid working ushered in the era of quiet quitting. Now people are using AI to take the idea one step further. Say hello to roboquittingThe era of hybrid working has driven many changes in the way people work. And the latest workplace trend to emerge is something called roboquitting. It takes advantage of remote work and AI to allow people to automate parts of their jobs, freeing them for side hustles and more free time. It builds on the trend for quiet quitting over the past four years, which describes how people do the minimum requirements of their job. They put in no more time, effort, or enthusiasm than absolutely necessary to collect a salary. More →

Being furloughed affected people’s sense of time and relationship with work

Being furloughed affected people’s sense of time and relationship with work

Between March 2020 and September 2021, millions of workers furloughed under the UK government’s Coronavirus Job Retention Scheme lived what for many of us is a dream: being paid not to work. Through interviews, I’ve researched the impact of this time on 35 people who were furloughed under the scheme. I found that for some, furlough created opportunities for reflection and growth, but for most of my interviewees it was a time of uncertainty and disorientation. More →

Prioritising your phone over your partner affects women’s creativity at work

Prioritising your phone over your partner affects women’s creativity at work

Focusing attention on your mobile phone instead of your partner doesn’t just strain your relationship - it also affects creativity at work, according to researchersFocusing attention on your mobile phone instead of your partner doesn’t just strain your relationship – it also affects creativity at work, according to researchers from the Universities of Bath, Aston, and IESE Business School. The study claims to shed light on the negative effects of ‘phubbing’, the idea of snubbing someone in favour of your phone, which is known for its detrimental impact on relationships and mental wellbeing. Now the study of working couples in the US points to repercussions in the workplace as well, but only for female partners. More →

London Mayor sets out ambitious plans for Capital’s growth and reinvention

London Mayor sets out ambitious plans for Capital’s growth and reinvention

Sadiq Khan, the Mayor of London, is today launching an ambitious plan aimed at creating 150,000 high-quality, well-paid jobs by 2028. This initiative will be unveiled alongside the shadow chancellor, Rachel Reeves. Reeves will say that a Labour administration intends to reset the relationship between the national government and London, while Khan thinks what is good for London is good for the UK. More →

Sick pay reform should encourage people back into work, government claims

Sick pay reform should encourage people back into work, government claims

A parliamentary committee of MPs has called for a 'long-overdue' boost to statutory sick payA parliamentary committee of MPs has called for a ‘long-overdue’ boost to statutory sick pay (SSP), emphasising the need to strike a delicate balance between workers’ wellbeing and employers’ financial constraints. The Work and Pensions Committee has recommended aligning the SSP rate with the flat rate of Statutory Maternity Pay, a move that they say could significantly improve the financial safety net for workers. More →

Real estate sector is at a pivot point worldwide, report claims

Real estate sector is at a pivot point worldwide, report claims

Despite continued economic uncertainty around the world, there is a strong belief that the global real estate industry is at a ‘pivot point’, with improving prospects ahead for renewed investment activity, according to the latest Emerging Trends in Real Estate Global Outlook 2024 from PwC and the Urban Land Institute (ULI). The report amalgamates three regional reports, which canvassed thousands of real estate leaders across Europe, the United States and Asia Pacific, and is a key indicator of sentiment towards the global real estate investment and development outlook across the globe. More →