Inflation rate still negative in Eurozone as ECB policies having muted effect May 31, 2016 The Eurozone remained locked in deflation in May 2016, according to flash estimates released this morning by Eurostat. Inflation, on the harmonised index of consumer prices (HICP) across the 19-member single currency union came in at minus 0.1 per cent, up slightly from minus 0.2 per cent in April. The main index was dragged down by [...]
The 14 Google searches that can predict Britain’s unemployment rate May 31, 2016 The three billion searches we make across the world each day using Google may tell us more than simply the latest celebrities everyone is reading about – the massive data points could in fact help us make economic forecasts. Researchers in Finland have managed to put the information to a very valuable use and say they can predict a [...]
How to make workers more productive without paying them more May 31, 2016 It's a question most managers are eager to know the answer to: How can a company make its employees more productive without paying them more? A new study by economists Michael Kosfeld, Susanne Neckermann, and Xiaolan Yang — published on the economics commentary website VoxEU — observed 413 students doing data-entry to find out. It defined meaningful work as something with a [...]
National living wage hurting UK productivity and low-wage sectors, claims think tank May 31, 2016 The national living wage has had a detrimental impact on the UK’s low-wage sectors, a study by the Institute for Public Policy Research (IPPR) has found. The think tank said that businesses are trying to offset the cost of the national living wage by cutting overtime, bonuses and other staff perks. It said that the UK’s low-wage sectors, [...]
Iain Duncan Smith: “Immigration is the economy, stupid.” May 31, 2016 Former work and pensions secretary Iain Duncan Smith has warned that unchecked immigration will hit both wages and the affordability of homes as a new report has forecast that almost half a million refugees could arrive in the UK from 2020 onwards. According to a report from lobbying group Migration Watch, up to 968,000 of the 1.7m refugees already in [...]
Soaring demand for bankers, insurers and accountants, but graduates left out in the cold May 31, 2016 Finance firms across the UK are on a hiring spree, as the number of job vacancies in banking jumped by ten per cent last month. The new analysis of job openings by a group of recruitment firms will provide welcome respite from reports of swingeing job cuts, as the Association of Professional Staffing Companies (Apsco) [...]
Week ahead: Data set to steer the FTSE after four day rising streak May 30, 2016 Markets are set to be moved by data this week after the FTSE 100 posted its biggest weekly gain since mid-April last week. The blue-chip index closed at 6,270.79 on Friday, a fourth straight day of gains and up two per cent on the week. The FTSE’s winning run is largely due to an oil [...]
Mario Draghi to keep stimulus on ice in this week’s ECB meeting May 30, 2016 Mario Draghi will put his weapons out on display but keep the ammunition locked away at this week's European Central Bank (ECB) monetary policy meeting, experts have predicted. The president is expected to hold fire on another bout of quantitative easing or further interest rate cuts, as early indications appear that the ECB's latest efforts to [...]
UK employers are plagued by an “absenteeism crisis” costing the British economy £100bn a year May 30, 2016 The UK is suffering from an "absenteeism crisis" in the workplace, according to the on-demand hiring platform Catapult. Small- and medium-sized enterprises are most affected by employee absenteeism, Catapult has said, which includes both "genuine" and "non-genuine" absences taken off work. UK businesses are losing 6.9 days a year per employee due to the absenteeism trend, while nearly [...]
New economic data to underline UK’s struggle for growth this week May 30, 2016 The UK economy is still struggling for momentum, fresh data out this week is likely to confirm. Economists expect the bellwether purchasing managers’ indexes (PMIs) to remain glued at three-year lows as businesses and consumers remain cautious until after the EU referendum. Readings on all three measures – which cover the services, manufacturing and construction [...]