Search Results for: economy

October 14, 2019

Full fibre broadband could boost UK economy by billions

by Neil Franklin • Flexible working, News, Technology

The deployment of full-fibre broadband could boost the UK economy by around £59 billion, according to a new report from the Centre for Economics and Business Research (CEBR), commissioned by Openreach. The Full fibre broadband: A platform for growth report claims that connecting the UK to fibre-to-the-Premises (FTTP) broadband could increase productivity, reduce commuting, enable smarter ways of working and improve public services. More →

August 6, 2019

Gig economy worker rights demand a global approach

by Hina Belitz • Comment, Legal news, Working culture

British people increasingly work in temporary positions and on short term engagements: part of a fundamental global shift in the way we work. The domestic gig economy has seen the number of workers more than double in number since 2016, according to a recent report from the TUC and the University of Hertfordshire (conducted with Ipsos MORI). Based on interviews with 2,235 individuals, the report’s key finding is that gig economy platforms, such as Uber, Deliveroo and Upwork, are now staffed by 4.7 million workers – or one in 10 working-age adults, up from one in 20 three years ago. It also found that 15 per cent of survey respondents had undertaken gig economy work at some point – equivalent to almost 7.5 million people if extrapolated across the entire economy. More →

July 3, 2019

Gig economy and freelance workers would prefer secure work

by Neil Franklin • Flexible working, News

Freelancers, the self employed and workers in the so-called gig economy may like the flexibility but they would prefer a steady job, according to new research from the Centre for Economic Performance (CEP). The rise of non-traditional work arrangements is not due to workers wanting or demanding these jobs, but rather because they have no other choice the report concludes. What’s more, workers would agree to earn less in order to increase their employment security. The results come from analysis of data from over 4,000 UK and US workers, who were surveyed on their current work arrangements and the job attributes they most want. More →

June 18, 2019

Freelancers project economy now larger than creative sector

by Neil Franklin • Flexible working, News

Freelancers working on projects now contribute more to the economy than the creative industries, new research from the CRSE (Centre for Research on Self-Employment) claims. The ‘project economy’, made up of freelancers brought in for individual projects such as new products, innovation and infrastructure, contributes approximately £104bn to the UK economy every year, according to the CRSE’s Freelance Project and Gig Economies report. That is more than the £100bn of the creative industries and close to the £110bn contributed by the construction sector. The ‘project economy’ accounts for 73 per cent of the UK’s skilled freelancers – nearly five times the 15 per cent working in the so-called gig economy. More →

April 9, 2019

UKGBC issues circular economy guidance for construction clients

by Marie Hillen • Architecture, Environment, Facilities management, News, Property

New guidance has been launched by the UK Green Building Council (UKGBC) to assist client organisations to include more ambitious circular design and construction best practices in project briefs for non-domestic projects. It addresses the commercial realities associated with making this practically happen and provides support and evidence to assist clients in setting clear strategies that ensure budget, project timescales and risks are all minimised and mitigated. The guidance may also be helpful for those in the supply chain looking to support construction clients on their journey towards specifying and practically applying circular economy principles.

April 2, 2019

The flat white economy is now the most important sector in the UK

by Mark Eltringham • News

According to a new study from the Centre for Economics and Business Research (CEBR) think tank, the so-called ‘flat white sector’ is now the most important driver of the UK economy. Consisting of the digital and creative businesses that cluster around areas like Silicon Roundabout in north-east London, the term has been coined by Douglas McWilliams, deputy chairman at the CEBR to reflect the way startups can apparently save on property costs by working out of coffee shops. McWilliams claims that the flat white economy contributed 14.4 per cent of gross value added (GVA) to the UK in 2018, making it more important than traditional sectors such as manufacturing, mining and utilities on that measure. More →

November 30, 2018

Economy could achieve significant economic boost by addressing skills gaps in younger people

by Neil Franklin • News, Workplace

The UK could boost GDP by around £40 billion a year in the long run if it reduces the number of young people not in education, employment or training (NEET) to match Germany, the best performing EU country. Despite making improvements in recent years, the UK only ranks 19th out of 35 countries across the OECD on a PwC index based on a range of indicators of youth employment, education and training. But this is slightly better than the UK’s ranking of 21st across the OECD on a similar PwC index for older workers released earlier this year. Across England NEET rates vary significantly, reflecting the disparity in educational attainment and job opportunities across the country. In 2017, the West Midlands had the highest NEET rate for 19-24 year olds at 16.7 percent, followed by the North East by 16.3 percent. Meanwhile the South East and South West have the lowest rates, both at 11.5 percent (see table below). More →

November 13, 2018

Gig economy set to boom to meet growing need for digital skills

by Sara Bean • AI, Flexible working, News, Technology, Workplace

Over a quarter of businesses plan to hire temporary or contract staff in the next 12 months to help plug skills shortages created by digitalisation as more than half of CEOs are concerned about a lack of digital skills within their organisation. This is according to the Robert Half 2019 Salary Guide which argues that technology is reshaping businesses; with two in five UK organisations (38 percent) considering digitalisation as the main evolving force in the workplace today. This shift has created demand for a new set of skills, such as DevOps, data visualisation, data management and analytics. While softer skills such as resilience, adaptability and critical thinking remain key characteristics in potential employees, a third (31 percent) of employers state that a candidate’s technical skillset is their most important consideration when making a new hire. Around 1.6 million1 (28 percent) UK businesses plan to hire temporary or contract staff in the next twelve months, to combat the lack available talent required, which is creating a critical skills gaps in the workplace.

October 23, 2018

Flexible working to contribute £148 billion to UK economy by 2030

by Mark Eltringham • Flexible working, News

A predicted boom in flexible working could contribute £148 billion to the UK economy by 2030, equating to 16 times the cost of the London 2012 Olympics, according to the a socio-economic study of changing workplace practices. The analysis, commissioned by Regus and conducted by independent economists, studied 16 key countries to delve into the state of flexible working now and predictions for 2030.

September 17, 2018

Growing gig economy could be behind buoyant ONS employment figures

by Sara Bean • Flexible working, News, Workplace

Recent ONS figures showing a rising employment rate could be inflated by the growth of zero-hour contracts within the gig economy, as the number of UK workers on zero hour contracts having more than tripled since 2012. This is propping up overall employment levels by accounting for almost a quarter of overall employment growth, new data by Adzuna has suggested. With the employment rate currently at a record high of 75.7 percent according to the ONS, Adzuna’s data compares recent growth in the number of people in work overall to the increasing number of zero hour contracts, to ascertain how much these contracts have contributed to the growth.

September 12, 2018

Quarter of people who work during twilight hours add billions to UK economy

by Sara Bean • Flexible working, News, Wellbeing, Workplace

New research from Huawei has suggested how much the dusk-to-dawn workforce is significantly boosting the ‘twilight economy’ by contributing an estimated £487 billion annually to the UK economy. The study of more than 2,000 UK workers found that a quarter (25 percent) of us now work outside of the traditional 9 – 5. Looking across the UK, a number of ‘twilight hubs’ have emerged, with Norwich (34 percent) topping the list of cities whose residents work whilst the rest of the nation sleeps, followed closely by London and Manchester (both 31 percent), and Liverpool and Cardiff respectively (both 30 percent). People who spend their working moments in the twilight hours say they feel more inspired and creative (30 percent) during this time, as well as more productive (28 percent). Meanwhile, a fifth of British workers prefer the flexibility that twilight working allows when it comes to balancing time with their kids (19 percent), and 20 percent describe themselves as night owls who find it easier to work later.