US economic growth slows in first quarter as weekly jobless claims fall us economy U.S. economic growth slowed more than expected in the first, despite an increase in consumer spending, and activity is set to moderate further as the effects of higher interest rates spread. Gross domestic product increased at a 1.1 per cent annualized rate last quarter, the Commerce Department said in its advance estimate of first-quarter GDP growth on Thursday. [...]
US economy adds 236,000 jobs in March as Fed rate hikes help cool labour market US jobs The US added 236,000 new jobs in March, the latest sign that the labour market is beginning to cool as the US Federal Reserve (Fed) continues to hike interest rates. The number of new jobs fell below the number added in February and the average monthly gain of 334,000 recorded in the last six months, [...]
Skills shortage doubled since pre-Brexit and pandemic as four in five firms struggle to fill roles Manpower Four in five businesses are struggling to fill vacancies because of a lack of skilled workers – the highest number in 17 years, new research suggests. Employment group Manpower said the number of employers reporting skills shortages has increased six-fold over the last decade – and more than doubled since pre-Brexit and the pandemic. A [...]
Stagnant wages since 2008 financial crash means workers £11,000 worse off, BBC Panorama reveals March 20, 2023 Workers are £11,000 worse off per year due to 15 years of wage stagnation, according to the Resolution Foundation. In new figures shared with BBC Panorama, the think tank calculated that, had wages continued to grow at the pace seen before the 2008 financial crash, the average worker would make £11,000 more per year than [...]
Budget ‘returnerships’: Will Jeremy Hunt’s plans to get over 50s back to work, work? March 15, 2023 Scrapping the lifetime allowance on pensions was just one of several measures announced in the Spring Budget aimed at getting the over 50s back to work, Many argue the move will only affect one per cent of the population, and was aimed at stopping an exodus of NHS doctors – who have often built up [...]
Cost of living crisis: Inflation sees Brits take a real-terms pay cut yet again March 14, 2023 British workers’ wages have been eroded by sky high inflation for the 15th month in a row despite them bagging bumper pay rises, official figures out today show. Real regular pay, which measures pay growth in cash terms minus inflation, fell on a monthly basis in January, according to the Office for National Statistics (ONS). [...]
Labour: Work from home but reverse pandemic retirement, over-50s urged January 7, 2023 Labour is hoping to tempt over-50s out of early retirement with the right to work from home. The shadow work and pensions secretary, Jonathan Ashworth, has outlined plans to entice over-50s to take up employment again. Speaking with The Daily Telegraph, Keir Starmer’s spokesperson on the issue, Ashworth, said Labour will launch a series of [...]
City pay war continues as top US law firm hikes London lawyers salaries to £170,000 November 14, 2022 New York City law firm Simpson Thacher has hiked salaries for its newly qualified (NQ) lawyers to heights of £170,000 a year in a sign the City pay war is showing no signs of slowing down. The white shoe law firm has given NQ lawyers in its London offices a £12,000 a year pay [...]
US employment market tightens as companies add 263,000 jobs October 7, 2022 US employers added 263,000 jobs in September as the country’s unemployment rate dropped to 3.5 per cent, figures from the Bureau of Labour Statistics show. Economists polled by Reuters had previously expected US employers would add 250,000 jobs in September. The figures mark both a slowdown and a tightening of the US jobs market, [...]
5m Brits have more than one job while double that number is looking for a side hustle September 27, 2022 More than 5m Brits are turning to a second or even third job to beat the cost of living crisis, while another 10m are considering it, according to new data out today from insurer Royal London. In fact, a separate study commissioned by GoDaddy shows that nearly one in three of firms that have under 10 employees are secondary [...]