Search Results for: employment

UK underemployment rates more accurate measure say economists

 Underemployment in the UK heightened by a fall real wages say economists

The current economic downturn differs from previous recessions in that unemployment rates haven’t been quite as devastating, with employers opting to freeze pay rates and offer flexible working and reduced hours in order to retain staff. But according to a white paper published today this has led to an important new phenomenon – underemployment. In the latest issue of the National Institute Economic Review, economists David Bell and David Blanchflower of the University of Stirling and Dartmouth College describe workers who are underemployed when they are willing to supply more hours of work than their employers are prepared to offer. (more…)

UK firms want to stay in EU but majority favour employment law changes

EU FlagA new report from the British Chambers of Commerce shows that while the majority of businesses still favour the UK’s ongoing membership of the European Union, the majority would like to see significant changes in certain key legislative areas including employment law, health and safety regulations and regional development. The EU Business Barometer from the BCC gathered responses from around 4,400 firms of all sizes and from a range of sectors and found that over half (54 per cent) wanted changes to employment law, a similar proportion wanted changes to Health and Safety laws (46 per cent) and a third changes to policies related to regional development.

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UK employment rises but pay rates are squeezed

pay squeeze

The UK employment rate is now higher than in the United States and is well above that in the Eurozone. However, pay levels remain low, with basic pay inflation now at just 1.3 per cent. According to the latest figures from the Office for National Statistics long-term unemployment fell by 15,000 this quarter to its lowest level for nearly a year. Nigel Meager, Director at the Institute for Employment Studies, commented: “The UK stands in contrast to developments in the Eurozone, where employment and unemployment figures are continuing to deteriorate.” (more…)

Flexible working bolstering employment growth in UK

Jobs

Employment will continue to grow in the first quarter of 2013, despite stalled economic growth. According to the latest Chartered Institute of Personnel and Development (CIPD)/SuccessFactors Labour Market Outlook the proportion of employers that intend to increase total staffing levels remains positive for the first quarter of 2013. Gerwyn Davies, Labour Market Adviser at the CIPD, said: “While muted pay growth is playing a part, we also see continued evidence that employers are reluctant to lay-off skilled workers.” He added: “Some employers are clearly using flexible working and reduced hours to adapt to trading conditions.” (more…)

London could generate £76bn boost to UK economy through ‘frontier industries’, says PwC

London could generate £76bn boost to UK economy through ‘frontier industries’, says PwC

London could help generate an additional £76 billion a year for the UK economy by 2030 if productivity growth in finance, technology, and science and research industries is acceleratedLondon could help generate an additional £76 billion a year for the UK economy by 2030 if productivity growth in finance, technology, and science and research industries is accelerated, according to a new report from PwC. The consultancy’s Grow London report argues that the capital is well positioned to support growth in what it describes as “frontier industries” due to its concentration of skilled workers, access to investment, established technology clusters and stable business environment. (more…)

Government report warns of ‘economic catastrophe’ as young people struggle with mental health

Government report warns of ‘economic catastrophe’ as young people struggle with mental health

Former health secretary Alan Milburn has warned that Britain risks a “generational, societal and economic catastrophe” unless employers and government adapt to rising levels of poor mental health among young peopleFormer health secretary Alan Milburn has warned that Britain risks a “generational, societal and economic catastrophe” unless employers and government adapt to rising levels of poor mental health among young people. An interim review led by Milburn into the growing number of 16 to 24-year-olds not in education, employment or training argues that businesses will need to provide greater flexibility, pastoral care and mental health support to what he describes as an “anxious generation”. (more…)

Businesses are currently more focussed on keeping down costs than growth

Businesses are currently more focussed on keeping down costs than growth

UK employers are prioritising cost management over growth as rising business costs and global uncertainty continue to weigh on confidenceUK employers are prioritising cost management over growth as rising business costs and global uncertainty continue to weigh on confidence. This is according to the latest Labour Market Outlook from the CIPD. The survey of more than 2,000 UK employers found that cost management is now the top priority for organisations of all sizes and across all sectors, ahead of improving productivity and growing market share. (more…)

UK is trapped in reactive cycle of sickness and inactivity, warn wellbeing experts

UK is trapped in reactive cycle of sickness and inactivity, warn wellbeing experts

Business leaders, policymakers and workplace experts have warned that the UK’s fragmented approach to work, wellbeing and welfare is undermining economic resilienceBusiness leaders, policymakers and workplace experts have warned that the UK’s fragmented approach to work, wellbeing and welfare is undermining economic resilience, with comparisons to Denmark highlighting the pressure placed on the NHS and benefits system in Britain. The warning came during a Westminster roundtable  for the Policy Liaison Group on Workplace Wellbeing chaired by Dame Carol Black on 13 May. The discussion followed shortly after the King’s Speech opened the new parliamentary session with a renewed emphasis on “economic security”. Participants argued that Britain’s rising levels of long-term sickness and economic inactivity will require a more coordinated approach involving employers, government departments, healthcare systems and insurers. (more…)

The workplace continues to be a source of relationships, study claims

The workplace continues to be a source of relationships, study claims

A new study commissioned by the organisers of the ORGATEC office design trade fair suggests that the physical workplace continues to play a significant social roleA new study commissioned by the organisers of the ORGATEC office design trade fair suggests that the physical workplace continues to play a significant social role, with around one in three employees in Germany saying they have dated a colleague. The research, carried out by YouGov and based on a representative sample of more than 2,000 people, suggests that offices remain important settings for forming friendships, relationships and informal social connections despite the continued growth of hybrid and remote working. (more…)

Employee engagement falls worldwide as AI investment fails to deliver productivity gains

Employee engagement falls worldwide as AI investment fails to deliver productivity gains

Global employee engagement has declined for a second consecutive year, despite rapid investment in artificial intelligence, according to Gallup’s latest State of the Global Workplace report.Global employee engagement has declined for a second consecutive year, despite rapid investment in artificial intelligence, according to Gallup’s latest State of the Global Workplace report. The study, based on one of the largest ongoing surveys of employee experience, suggests that organisations are struggling to translate technological change into measurable improvements in performance or working life. Employee engagement fell to 20 percent in 2025, down from a peak of 23 percent in 2022 and its lowest level since 2020. This decline has significant economic implications, with Gallup estimating that low engagement costs the global economy around $10 trillion in lost productivity, equivalent to 9 percent of global GDP. (more…)

British workers now entirely unproductive, claims report

British workers now entirely unproductive, claims report

The overwhelming majority of UK workers don’t do anything productive at all, according to a new report published today. The study of available research into the illnesses, injuries, distractions, wastes of time, procrastinations, productivity drains and paralyses that afflict British workers found that the annual cost to the British economy is around £1.8 trillion, equivalent to 98.9 percent of GDP.

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British workers happier and more productive than US and German contemporaries. Hey. We just report this stuff

British workers happier and more productive than US and German contemporaries. Hey. We just report this stuff

A major international study claims that team enjoyment is the strongest perceived driver of productivity, challenging long-standing assumptions about how organisations improve performance and that British workers claim to be happy and productive A major international study claims that team enjoyment is the strongest perceived driver of productivity, challenging long-standing assumptions about how organisations improve performance. The Global Workplace Happiness Report, published by The Happiness Index in partnership with employee benefits provider Pluxee, draws on responses from 80,000 employees across 115 countries. It suggests that social and emotional factors play a more significant role in productivity than operational systems such as workload management or process design. The poll also found that British workers are more likely to say they are happy and productive than their US and German contemporaries.  (more…)