Workers on furlough pass 9m as cost of job support measures nears £30bn June 16, 2020 Over 9m workers in the UK have now been furloughed due to the Covid-19 pandemic at a cost of £20.8bn, new figures from the Treasury show. As of 14 June, 9.1m jobs were being supported by the government’s coronavirus job retention scheme (CJRS) at a cost of £20.8bn, up from £19.6bn the week before. The [...]
UK unemployment data: Five key facts as furlough stems job losses June 16, 2020 New figures released today showed that the UK’s unemployment rate unexpectedly remained flat for the three months to April, confounding expectations of a sharp rise. But economists are warning that a bleak picture lurks behind that headline figure as the impact of coronavirus on the British labour market begins to show. City A.M. has broken [...]
Job market set for ‘significant’ downturn despite furlough scheme May 18, 2020 The UK job market is set for a “significant turn for the worse” over the next three months, a new report from the Chartered Institute of Professional Development (CIPD) has found. According to the research, more than half of private sector firms are preparing to freeze pay for the next 12 months, while hiring intentions [...]
COVID-19 – the latest challenge to ‘levelling up’ the UK economy March 30, 2020 | City Talk In uncharted territory … When I flew out of Buenos Aires in late 1990, having ended my stint working as part of a team supporting the economic reform programme of President Menem, I genuinely believed I would never again work in such a severe economic situation like the one Argentina had been in. Prices in [...]
DEBATE: Should government pay wages to workers affected by coronavirus? March 23, 2020 Should the government pay wages to workers whose incomes have been affected by the coronavirus crisis? YES – Sam Bowman, director of competition policy at the International Centre for Law & Economics. This is a very unusual recession. It is self-inflicted, and will hit highly productive and less productive businesses alike. To allow them to [...]
Recruiter Cordant scrambles to raise cash after clash with lenders February 23, 2020 Cordant, one of the largest recruitment agencies in the UK is rushing to raise new cash after coming close to collapse following a row with its lenders. The company, whose clients include Lloyds, Amazon and Tesco, is racing to secure a deal with investors that would end the majority ownership of the Ullmann family, who [...]
Art is food for the soul, so why not hang up a Picasso in the office? February 10, 2020 In recent years, we have seen businesses commit to new mental health initiatives, from training mental health first aiders to developing mindfulness apps, yoga classes at the office, plants, and bringing in pets. Employers of all sizes are looking for ways to keep their workforce happy and motivated. And rightly so — the global cost [...]
Permanent job numbers increased for first time in over a year following general election February 7, 2020 Improved market confidence has led to the first back-to-back increase in permanent jobs for over a year. According to KPMG and REC’s new jobs report, recruiters signalled a further rise in permanent staff appointments in January following the general election. The appointments rose in the North and South of England but fell in London and [...]
The clock is ticking: Why it’s time to address IR35 February 5, 2020 There has been a lot of noise around IR35, the updated government intermediaries legislation. Generally, it seems to be leaving a bad taste in people’s mouths. And that’s the trouble with some taxation changes: their interpretation and intent can be tarnished with a negative brush. Instead of fuelling the current conversation, is it time to [...]
You’re never too old to start a business: Why we need to harness senior enterprise February 5, 2020 With a rapidly-ageing demographic across Europe, it is time to re-evaluate not only our own attitudes towards older people, but also the value of senior enterprise and their contribution to society. By 2020, the over-50s in the UK will make up nearly one third of the working-age population, and almost half of the adult population. [...]