Job Market Monitor
United Kingdom
UK / A never seen recession: Employment has stayed remarkably, high productivity – output per worker – has dived
We have all grown used to the fact that the past few years have been different from any previous period in the last century. Output has stayed lower for longer than in any previous recession: in 2013, real national income is still lower than it was in 2007. This of course has driven public borrowing … Continue reading
UK / The unemployment rate unchanged, 65 and over in employment has reached 1 million for the first time
The employment rate for those aged from 16 to 64 for February to April 2013 was 71.5%, down 0.1 percentage points from November 2012 to January 2013. There were 29.76 million people in employment aged 16 and over, up 24,000 from November 2012 to January 2013. The unemployment rate for February to April 2013 was … Continue reading
UK / Jobs Gap filled for women, but not for men
The number of women in employment since 2008 has increased by more than a quarter of a million, a 1.2pc net rise, while the number of men in work has dropped by 70,000, a 0.4pc net fall, a study of official labour market data has shown. The analysis by The Jobs Economist, an employment consultancy … Continue reading
UK / Banks employment to 9yr low
Britain’s four biggest banks will have cut a quarter of their staff worldwide by the end of this year from peak staffing levels of 2008. Thousands of jobs are targeted as British banks centered in LIBOR rigging and insurance mis-selling scandals continue to cut costs. Royal Bank of Scotland, HSBC, Lloyds and Barclays will employ … Continue reading
The UK ‘Jobs Gap’ / More than 800,000
The UK is more than 800,000 jobs short of the amount it would need to restore employment rates to those seen before the recession, a study from independent think tank the Resolution Foundation has found. While the number of people in employment had climbed by 160,000 since 2008 to nearly 30 million, this positive news … Continue reading
UK / Stress and presenteeism sapping productivity
A rise in presenteeism is affecting productivity levels at work, as nearly two in three employees have attended work while feeling ill in 2013. According to the research from business psychology company Robertson Cooper, productivity levels for employees who feel ill drops from 75% on ‘normal days’ to 55% on ‘sick days’. The study also … Continue reading
UK / venture capital trusts create thousands of jobs research finds
A survey of companies that have been funded by venture capital trusts (VCTs) has found that they have created 14,000 new jobs since receiving the investment. The Association of Investment Companies (AIC) heard from 271 such businesses, which reported that their combined workforces have swelled from 23,643 at the time of the VCT injection to … Continue reading
UK / One in five retiring in 2013 in poverty
Study by Prudential finds many people are facing a bleak financial outlook, with 14% relying solely on state pension One in five people retiring in Britain in 2013 will fall below the income poverty line according to a study by Prudential, which also found that nearly a quarter of women will enter retirement entirely dependent … Continue reading
UK / The truth about welfare
Our welfare system today is politically toxic and the public debate about it has become untethered from evidence or a semblance of rational discussion. Beneath the hyperbole, the government’s welfare reform agenda offers no solution to this deep crisis of legitimacy. For three decades, successive governments have pursued broadly similar strategies that have had mixed … Continue reading
UK / Work Programme failing, say MPs
A scheme to help the unemployed find work appears to be failing the most disadvantaged jobseekers, according to MPs on the Work and Pensions Committee. Their report said support for the mainstream jobless in the government’s Work Programme, launched in June 2011, was getting better after a poor start. But it said there was growing … Continue reading
UK / How to put young people back to work
We need to put young people back to work. The coalition’s wage incentive scheme aimed to do this, but the early evidence suggests that it is actually doing very little to create new jobs, with only 9 per cent of employers creating vacancies as a direct result of the scheme. Instead, we should adopt a … Continue reading
UK / Horticultural Industry Skills Gap: more than 70 per cent of companies struggling
A new study from some of Britian’s leading horticultural organisations has revealed a serious lack of skilled workers in the horticultural industry, with more than 70 per cent of companies struggling to find skilled workers. More than 80 per cent of businesses surveyed said they believed that the poor reputation of horticultural jobs with young … Continue reading
UK / Unemployment starts to rise again
Unemployment jumped and average wage rises dropped to their lowest rate on record in the three months to March, underlining concerns at the slow pace of the UK’s recovery. There was an increase in unemployment of 15,000 in the first quarter of the year while during the same period regular pay rose by just 0.8%. … Continue reading
UK / The 18-24’s Job Gap: 395,000 jobs finds TUC research
People aged 18-24 are far less likely to be in work today than before the recession and 395,000 more jobs are needed before youth unemployment rates return to their 2008 level, according to research by the Trade Union Congress (TUC). The research has been published ahead of the latest employment figures tomorrow, which are expected … Continue reading
The Great Recession: 4,750 “excess” suicides in US, 1,000 in UK
In a book to be released this month, professors David Stuckler and Sanjay Basu say suicide rates in both the U.S. and the U.K. increased after the end of 2007, which marked the beginning of the recession in the U.S. They calculate there were 4,750 “excess” suicides during the slump in the U.S., compared with … Continue reading
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