A new IZA World of Labor report published today suggests that workers’ effort may be more responsive to wage incentives and therefore the efficiency costs of progressive labour income taxation larger than previously thought. A fundamental question in economic policy is how labour supply responds to changes in remuneration. The responsiveness of labour supply determines the size of the employment impact and efficiency loss of progressive income taxation for example. The economist Tess Stafford of the University of New South Wales, Australia, summarises a number of recent studies of independent contractors’ labour supply which confirm a key prediction of economic theory: workers work more (in fact, quite a bit more) when earnings are temporarily high.

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According to new research by WISE, the campaign for gender balance in science, technology, engineering and mathematics (STEM), the UK is on track to have one million women working in core STEM roles by 2020. The research shows that there are over 900,000 women working in STEM currently and an estimated 200,000 women with STEM qualifications will reach working age within the next 2 years. The news was announced at WISE 2018 Awards presented by the Patron of WISE, HRH, The Princess Royal.

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A sudden reversal in the growth in the number of both EU and non-EU migrants in employment in the UK could hit employer plans to take on more staff and worsen skills and labour shortages, according to the latest quarterly Labour Market Outlook from the CIPD and The Adecco Group. While the net employment balance – a measure of the difference between the proportion of employers who expect to increase staff levels and those who expect to decrease staff levels – has remained extremely positive at +22 (compared to +23 in Q3 2018), among employers which currently have vacancies, seven in ten (70 percent) report that at least some of their vacancies are proving hard-to-fill, higher than in Summer 2018 (66 percent) and Spring 2018 (61 percent).  (more…)

The CIPD has launched a new and fully updated Profession Map which sets out the knowledge, behaviours and values underpinning today’s people profession in the modern world of work. The new Profession Map – the first since the 2013 version of the CIPD’s original Profession Map – has been designed to reflect the changes in the world of work and the priorities and role of people professionals. Major trends, from the changing demographics and needs of the workforce to alternative employment models and increasing use of technology, have challenged us to innovate and adapt our people management practices and approaches. The Map will evolve in line with the world of work, updating when the landscape shifts and keeping experts in people, work and change future-fit for years to come.

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