Search Results for: labour market

Potential job creation will replace only fifth of jobs lost to artificial intelligence and automation

Potential job creation will replace only fifth of jobs lost to artificial intelligence and automation

The debate surrounding the threat from artificial intelligence (AI) and automation leading to the loss of jobs has been highly publicised. Most recently, tech titans Elon Musk and Mark Zuckerberg have locked horns over the issue, and PricewaterhouseCoopers (PwC) has estimated that by the early 2030’s 30 percent of British jobs will be lost to automation. Job meta-search engine Joblift has analysed the field of automation and AI in the UK, comparing potential job creation with jobs lost by the early 2030’s. Its meta-analysis based on jobs listings and the research from PwC suggest that newly created positions in the field of AI and automation would only replace around 19 percent of the jobs lost to robotics.

 

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People who are not economically active should be helped into the gig economy claims think tank

People who are not economically active should be helped into the gig economy claims think tank

Following last week’s publication of the Taylor Review into modern working practices, a new study from public sector think tank Reform makes recommendations for how government should help people into the gig economy, with a focus on those who are often economically inactive or restricted in the opportunities they have. In the report, Gainful Gigging, older and disabled people are explored as potential winners from recent growth in flexible working. Both groups are significantly less likely than average to be economically active, and many face significant work barriers. Around half of all 50-64 year olds manage at least one long-term health condition. Of the 3 million in this age group that are economically inactive, around 12 per cent spend over 20 hours per week looking after a sick, disabled or elderly person. Greater work flexibility could help them to enter the labour market, according to the report’s authors. In a survey of disability benefit claimants, many indicated that “flexible work, working from home [and] working less than 16 hours per week” would help them sustain employment. A review of the Work Capability Assessment for sickness benefits also found half of those deemed ‘fit for work’ require flexible work hours.

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The world has its say on the Taylor Review into modern working practices

The world has its say on the Taylor Review into modern working practices 0

Yesterday, the much-awaited Taylor Review into modern working practices was finally published. And by modern working practices, the report focussed primarily on what has become known as the gig economy. People have been speculating about the contents of the report for months and things ramped up last week after a partial leak to the media. So, things were already bubbling under nicely before the actual publication of the document brought things to a boil yesterday. Assuming the government do more than kick the whole thing into the long grass, always a possibility, debate will continue for a while. We’ll let politicians do their thing with it, but here are a few of the initial reactions from interested parties and the experts. More →

Taylor Review on Modern Working Practices and the gig economy is published

Taylor Review on Modern Working Practices and the gig economy is published 0

The long awaited UK government commissioned report into modern working practices and the so-called gig economy has been published at last. The Taylor Review was commissioned by the Department for Business, Energy & Industrial Strategy last year and there has been a great deal of speculation regarding its content ever since, especially last week after parts were apparently leaked to the media. You can follow the pile in now on Twitter and the festering pits of ignorance, prejudice and bile known as newspaper comment sections. Or you can read it here before you draw your own conclusions. We’ll be having our say tomorrow and sharing the thoughts of various organisations into its contents. The report was authored by Matthew Taylor, Chief Executive of the RSA and considers the implications of new forms of working, especially with regard to the gig economy and freelance work on worker rights and responsibilities, as well as on employer freedoms and obligations. It sets out seven key principles to address the challenges facing the UK labour market, set out below.

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Minimum wage should be extended to the self employed and gig economy

Minimum wage should be extended to the self employed and gig economy 0

The government should extend minimum wage legislation to protect some of the UK’s 4.8 million self employed workforce as part of its drive to tackle low pay and insecurity in the modern workforce, according to a new report published by the Resolution Foundation. The Minimum Required? – which forms part of the Resolution Foundation’s submission to the Taylor Review on modern employment practices – sets out a number of proposals to tackle endemic levels of low pay among the self-employed. Its new analysis claims that that while around in one in five employees are low-paid (earning less than two-thirds of typical weekly earnings), last year around half of the full-time self-employed workforce (49 percent) fell below this threshold, earning less than £310 a week.

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Extending the length of working lives could boost UK GDP by £80 billion

Extending the length of working lives could boost UK GDP by £80 billion 0

The UK could boost its GDP by around 4.2 percent (around £80 billion at today’s values) if the employment rate of workers aged over 55 could match that of Sweden, the highest performing EU country, according to a new PwC analysis comparing the employment of older workers across 34 OECD countries. There is a 12 percentage point gap between the employment rates of workers aged 55-64  in the UK and Sweden. PwC’s Golden Age Index is a weighted average of indicators – including employment, earnings and training – that reflect the labour market impact of workers aged over 55. The UK has remained middling in the rankings since 2003, falling by one place from 18th in 2014 from 19th in 2015. The report suggests that extending working lives could have a transformational effect on the economy.

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Businesses sound the alarm over Brexit as negotiations get under way

Businesses sound the alarm over Brexit as negotiations get under way 0

The end of free movement of people from the EU will damage UK businesses and public service delivery unless post Brexit immigration policies take account of the need for both skilled and unskilled labour from the EU. This is a key message in new research from the CIPD, the professional body for HR and people development, and the National Institute of Economic and Social Research (NIESR). It also calls on businesses to broaden their recruitment and people development strategies to ensure they are doing all they can to attract and develop UK born workers, and highlights the need for significant changes to Government skills policy. The study joins a growing chorus of business leaders appealing for a rational approach to Brexit negotiations. Britain’s top business lobby groups have already come together to demand open-ended access to the European single market for as long as it takes to seal a final Brexit deal.

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Job polarisation is being driven by lack of access to technological skills, warns OECD

Job polarisation is being driven by lack of access to technological skills, warns OECD 0

productivityThe employment rate throughout OECD areas is finally returning to pre-crisis levels, but people on low and middle incomes have seen their wages stagnate and share of middle-skilled jobs fall. This is according to the latest OECD Employment Outlook 2017 which finds that the employed share of the population aged 15 to 74 years rose for the third consecutive year, and is expected to reach 61.5 percent by the end of 2018, above its peak of 60.9 percent in the fourth quarter of 2007. Its projections for the UK’s economy for 2017-18 anticipate that growth will ease as rising inflation weighs on real incomes and consumption, but business investment will weaken amidst uncertainty about the United Kingdom’s future trading relations with its partners.

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What will the UK General Election mean for the workplace? Some experts respond

What will the UK General Election mean for the workplace? Some experts respond 0

Any residual feelings of certainty that anybody in the UK may have had about the country’s future following last year’s Brexit vote, will have had them pretty much eradicated by last Thursday’s General Election result. However, we must try to make sense of things for society and the wider economy as well as specific facets of it, such as the world of work. The whole thing looks like the pig’s ear that it is, of course. Fortunately, as some experts have already argued, there are some reasons to see some positive outcomes, including a soft (or softer) Brexit and the chance of a more positive approach to workplace rights, now that the Government needs to maintain a broader consensus. The fear or hope that the UK would lighten its already soft touch approach to workplace legislation would seem at least to be less well founded.

 

 

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Three quarters of HR professionals expect Brexit to escalate the war for talent

Three quarters of HR professionals expect Brexit to escalate the war for talent 0

New research claims that, as a result of the UK’s decision to leave the EU, nearly three-quarters of HR professionals (72 percent) expect the war for talent to intensify, and nearly two-thirds (61 percent) predict further difficulty recruiting senior and skilled employees over the next three years. The latest CIPD/Hays Resourcing and Talent Planning Survey of more than 1,000 HR professionals found that recruitment difficulties are already being reported by three quarters of HR professionals (75 percent), and nearly two-thirds (65 percent) agree that the skills needed for jobs in their organisation are changing. Professionals with leadership (58 percent), digital (54 percent) and commercial awareness skills (51 percent) are most likely to increase in demand over the next 12 months.

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Number of UK job vacancies are at their highest level since November 2015

Number of UK job vacancies are at their highest level since November 2015 0

The number of job vacancies across the UK now stands at its highest level since November 2015, according to the latest UK Job Market Report from Adzuna.co.uk. There are 1,179,586 openings currently being advertised, with just 0.44 jobseekers for every vacancy; while salaries – now sitting at £32,678 – have also been showing signs of recovery, increasing month-on-month since the start of 2017, which suggests the previous decline in wage growth may have been a temporary lull. While wage growth is picking up positive momentum, advertised wages still remain behind 2016 levels.  Indeed, a third of UK vacancies were impacted by recent increases in National Living Wage when it rose from £7.20 to £7.50 on April 1st.  Both Labour and the Conservatives have made pledges to increase the National Minimum Wage in their recently published manifestos. Admin (64 percent), catering (59 percent) and customer service (71 percent) are the sectors that the increase has affected most significantly.

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Employers struggling to fill vacancies as Brexit impacts on candidate availability

Employers struggling to fill vacancies as Brexit impacts on candidate availability 0

If UK businesses are to remain competitive whoever wins the election on 8 June needs to invest in skills and career advice, as Brexit uncertainty means people are hesitating to move jobs, while there may be barriers in future to hiring workers from abroad; according to the latest research into the UK jobs market by the Recruitment & Employment Confederation (REC). The jobs market experienced the steepest drop in candidate availability for 16 months in April while demand for permanent and short-term staff remained high. Although growth in permanent starting salaries edged down to a four-month low in April, it remained sharp overall and stronger than the series average. Meanwhile, hourly pay rates for short-term staff increased at the sharpest pace in 2017 so far. Vacancies continued to rise markedly in April for both permanent and temporary/contract staff. This was despite growth in demand for both types of staff softening slightly since the previous month.

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