EU referendum: Seven Brexit myths debunked by economists at Berenberg April 22, 2016 With so many unknowns going into the EU referendum, there have been plenty of claims and counter-claims being made about the impact leaving the union could have on the UK. But economists at Berenberg claim the debate has been "shrouded in myths, rather than driven by facts or reasonable arguments". Now the team is embarking on a [...]
Can the rise in unemployment between December and February be blamed on the EU referendum? April 21, 2016 Jeremy Cook, chief economist at World First, says Yes. The referendum on the UK’s membership of the EU is acting as a depressant on almost all UK economic indicators at the moment, and February’s labour market report is simply the latest. That is not to say that every single piece of weakening data is as a [...]
Nearly 60,000 companies hit by National Living Wage already in “significant financial distress”, insolvency firm warns April 20, 2016 The National Living Wage (NLW) risks tipping thousands of vulnerable companies over the edge as they struggle to absorb higher staff costs, one of the UK’s leading insolvency firms has warned. More than 1.8m workers were given a pay rise on 1 April after a new minimum wage came into force, requiring employers to pay at least £7.20 per [...]
Unemployment numbers up and wage growth down: Why the UK labour market has started to stutter April 20, 2016 Jobs and wages figures released today raised questions over whether the UK economy could be losing steam. Analysts were quick to point to a host of factors that could be at play, as well as what the numbers mean for everything from interest rates to Brexit. The figures The headline unemployment rate came in unchanged [...]
Not switching jobs has cost younger workers on their pay packet April 18, 2016 Staying put in the same job for too long has cost younger workers on their potential pay packet, a report out today has found. The study by the Resolution Foundation discovered that, had younger workers continued to switch jobs at the pace witnessed in the early 2000s, they would now be earning 30p more per hour [...]
Top economist Howard Archer warns over labour market as economic pressures begin to bite April 17, 2016 The UK labour market is expected to have lost momentum due to heightened domestic and global economic uncertainties, according to IHS chief economist Howard Archer. The challenges, magnified by June’s referendum on UK membership of the European Union, include lacklustre UK economic activity early on in 2016, and the National Living Wage – a 50p [...]
We’ve given over a million people a pay rise: Now here’s how we’ll achieve full employment April 15, 2016 Today marks the launch of the first ever UK Employability Day, when businesses dedicated to helping people into work will open their doors to showcase what they do best. It’s a fantastic idea by the Employment Related Services Association that will see more than 70 employment centres across the country take part – including several [...]
UK immigration: Why are EU citizens coming to the UK? April 13, 2016 As the EU referendum approaches and the debate intensifies, immigration remains a key battleground for both camps. And while Prime Minister David Cameron has said that his reforms on migrants claiming benefits will reduce the pull factor for those from the EU, a new report states that it is employment opportunities that is the biggest [...]
With March’s inflation figures the strongest since 2014, should we be prepared for a rapid rise in the coming months? April 13, 2016 Andrew Sentance, senior economic adviser to PwC and a former member of the Bank of England’s Monetary Policy Committee, says Yes. Once again, deflation has been the dog which hasn’t barked in the UK. Inflation is gradually coming back. The headline rate is 0.5 per cent, but the underlying rate – excluding volatile food and energy [...]
With March’s inflation figures the strongest since 2014, should we be prepared for a rapid rise in coming months? April 13, 2016 Andrew Sentance, senior economic adviser to PwC and a former member of the Bank of England’s Monetary Policy Committee, says Yes. Once again, deflation has been the dog which hasn’t barked in the UK. Inflation is gradually coming back. The headline rate is 0.5 per cent, but the underlying rate – excluding volatile food and energy [...]