Business growth returns across financial services sector in second quarter July 8, 2021 Business volumes across the financial services sector in the second quarter grew at its fastest pace since June 2017, after stalling in the previous quarter. Growth in business volumes across the financial sector in the second quarter was at 40 per cent, its fastest pace since June 2017, and is expected to continue in the [...]
OECD: Covid-19 pushed 22m people out of jobs in advanced economies July 7, 2021 Around 22m more people are now jobless in major economies than before the pandemic, according to new research by the OECD. Of these 22m people living in rich countries that have been pushed out of work during coronavirus, 8 million are unemployed and over 14 million people are classed as inactive. In its annual employment [...]
Page Group shares rise as labour market improves and recruiter predicts £135m profit July 7, 2021 Page Group shares rise as labour market improves and recruiter predicts £135m profit
UK hospitality sector calls for changes to test and trace system July 1, 2021 Hospitality trade association UKHospitality has called for an immediate review of the government’s test and trace isolation guidelines. It says current measures are “massively disruptive” to the sector. The body says existing staff shortage problems are being “compounded” by staff being told to self isolate. It says the current system can lead to whole teams [...]
British Council could cut 2000 jobs after budget slash July 1, 2021 The British Council has started planning a redundancy consultation, potentially resulting in 2000 jobs being cut. The action follows a drop in funding from the government. The public body announced last week it would have to cut 15-20 per cent from the organisation over the next two years due to the financial impact of the [...]
Home Office to allow late EU Settlement Scheme applications after website crashes July 1, 2021 Home Office to allow late EU Settlement Scheme applications after website crashes
Barclays to up junior bankers’ base pay to $100,000, following Wall Street rivals June 30, 2021 UK bank Barclays is expected to increase base pay for junior bankers to $100,000 amid an exodus of young workers. The pay hike would bring the company’s rates in line with those announced by JPMorgan this week. In April, Bank of America also increased junior banker salaries by up to $25,000. While the changes are expected [...]
Flexible working could become a ‘right for all’ under new legislation June 30, 2021 Shadow children’s minister Tulip Siddiq today introduced the Flexible Working Bill, aimed at giving workers a right to flexible working arrangements. Siddiq said the Bill, introduced through the Ten Minute Rule, would “give workers the right to flexible working from the first day of employment, except in exceptional circumstances” and “require employers to offer flexible [...]
‘Grave concerns’ over multi-million pound cuts to City of London Police June 28, 2021 The City of London Police Federation pushed 125 elected representatives to pressure the City of London Corporation to rethink £2.3m of cuts to the force. In a letter sent to 25 aldermen and 100 councillors in the City, chairman of the City of London Police Federation Mike Reed said the body had “grave concerns” over [...]
US and UK job markets may look similar, but they are on very different paths June 28, 2021 The US and Europe adopted very different approaches to providing labour market support during the pandemic but as their economies re-open they appear to be experiencing similar problems: worker shortages, a growing number of unfilled vacancies and wage pressures in some sectors. What’s going on? Let’s start with the labour market support programmes themselves. The [...]