The government in Thailand plans to raise the daily minimum wage by 14%, reaching 400 baht ($10.88) by October 1. This move has sparked concern among business groups, fearing that higher labour costs could lead […]
Germany is poised to witness a significant rise in unemployment, reaching levels not seen since 2015, with an expected peak of nearly 2.8 million jobless individuals this year. Despite the high figures, these numbers remain […]
Barclays Bank has embarked on a significant restructuring process, reducing its global workforce by 5,000. This decision forms part of the bank’s strategic initiative to cut costs and improve profitability. The reduction, affecting a substantial […]
South Africa is facing a pressing unemployment crisis, with a staggering rate nearing 33%. This alarming figure has prompted the United Nations and other experts to label the situation as a “time bomb” that could […]
Rolls-Royce, the renowned engineering giant, has unveiled plans to cut up to 2,500 jobs worldwide in a bid to create a “more efficient and effective” organization. This decision marks the first significant action by Tufan […]
The UK’s economy is ailing, and this isn’t just a figure of speech. More Britons than ever are out of the workforce due to long-term illness or disability, a historic and lamentable loss of human […]
IBM CEO Arvind Krishna disclosed that the company expects around 7,800 jobs to be replaced by AI within the next five years. This change could affect nearly one-third of IBM’s non-customer-facing roles, which currently involve […]
Following 3 years of strict controls to stifle the spread of Covid-19, the Chinese economy is now ready to rebound, with most analysts predicting GDP growth of around 5 percent this year. The global pandemic […]
Nestle, one of the world’s largest food and beverage companies, is planning to increase prices again this year as they grapple with food inflation and the surging cost of ingredients. The Swiss conglomerate, famous all […]
The UK chancellor, Rishi Sunak, has just announced the government’s latest scheme to save people’s jobs from the ongoing Coronavirus crisis. With the job retention scheme set to end at the end of October, both employers and […]
The unemployment rate in the UK has risen to its highest level in two years, with an official figure of 4.1% released by the office for national statistics. Given the devastating impact of Covid-19 on […]
Biscuit fans beware, if either Jamie Dodgers or Wagon Wheels are amongst your favourites, the followings news may be distressing. Production of Jammie Dodgers and Wagon Wheels could be stopped this month as factory workers […]
According to research from Oxford Economics in 2019, up to 20 million manufacturing jobs could be replaced by robots by 2030. If we then add in those jobs from other sectors which could be easily automated, […]
According to data released by the US Labour Department, new unemployment claims for the week ending August 15th stood at just over 1.1 million people, up 135,000 from the week before. This data paints an […]
The results are out for the economic impact that Covid-19 has had on the world’s major economies in the first six months of the year… and unsurprisingly, they are showing unprecedented levels of global economic […]
Governments need to keep track of their spending just like we all do. If they spend more than they earn, just like our bank balance goes into the red, so does theirs! This is commonly […]
The aviation industry has been one of the hardest hit by Covid-19. With countries closing borders and people ordered to stay at home, the demand for air travel has plummeted. The result has been a […]
Josh Frydenberg, the Australian Treasurer, announced on Wednesday that the economy is likely to have shrunk by as much as 9% from April to June. This further decline in size, following a 0.3% contraction in […]
The economic impact of Covid-19 has been devastating and wide-reaching. One country which is suffering significantly is South Africa, where going into lockdown has stifled almost all economic activity. As South Africa, the second largest […]
As the world’s economies continue to reel from the damage caused by the spread of Covid-19, Supercar manufacturer McLaren is the latest company to announce a huge wave of layoffs. The British based firm is […]
Whilst India was initially praised for their response to the Covid-19 crisis by organising a mass lockdown that effectively took 1.3 billion people off the streets, the subsequent effect on their economy will be severe. […]
The inflation rate in Canada entered negative territory in April, as year-on-year inflation was measured at -0.2%. This essentially means that the average price level in Canada was 0.2% less in April this year, than […]
With unemployment levels soaring across the world, the ILO (International Labour Organisation) released a policy brief which outlined the steps they recommend for global governments to take in order to mitigate the impact of the […]
India, the second largest country in the world with a population of 1.35 billion people, has now been in lockdown for over 50 days. The impact of such a widespread stay-at-home order has had a […]
In April, the UK government launched an unprecedented job retention scheme to combat the economic fallout of the coronavirus on employment. Under the scheme, the UK government will fund 80% of workers’ wages, up to £2,500 a month, […]
Since the US economy was essentially shutdown four weeks ago, the economic fallout has been tremendous and devastating. With businesses closing across all sectors of the economy, millions of people have been forced into unemployment. […]
The economic impact of the coronavirus is unprecedented and far-reaching. People all over the world have been affected in some way, and it is likely that our lives will never be the same again. One […]
The global fashion industry, valued at over US$2 trillion, has been hit extremely hard by the worldwide spread of Covid-19, resulting in business closures, loss of jobs, and plummeting sales throughout the whole supply chain. […]
The government of Singapore has announced an additional US$3.6 billion to support the economy as the city state sees coronavirus cases increase despite earlier signs that the virus seemed to have been contained. The additional […]
Clothing workers in Bangladesh, the South Asian country which is only second place to China in the global manufacturing of clothing, have been hit hard by the worldwide spread of Covid-19. The plummeting demand for […]
As of Wednesday this week, national minimum wage in the UK has increased by 6.2% for those aged 25 and above. This now means that any minimum wage worker over 25 will now be paid […]
In yet another unbelievable day of economic policy in action, the chancellor of the exchequer, Rishi Sunak, announced yesterday the latest measures to protect people’s income, keep businesses alive, and encourage spending in the economy. […]
It’s not all doom and gloom! Well… it is mostly. But with all the negative economic news in the last few weeks, here is a more positive story to tell. With the coronavirus now a […]
The British Home Secretary has suggested the training and upskilling of the economically inactive in order to fill the large staff shortages in British businesses across the UK. According to Patel, there are over 8.45 […]
For the last two years, a dark cloud has been over Argentina as they contend with a serious economic crisis. The South American Country, and third largest economy on the continent, has been in a […]
The economic impact of the coronavirus is still a guessing game at the moment, but one thing is for sure: it is going to be big. The impact on the services sector alone has already […]
Hungary, a land-locked country of 9.7 million people nestled between Austria and Romania, is not a country which receives a huge amount of global attention. So here is an article for you Hungary, home to […]
China, the world leader in high-speed rail technology, has just opened a new 172km route which hurtles passengers across the Chinese countryside at speeds of 350km per hour without a driver! This is the latest […]
The official unemployment rate in the US has fallen to 3.5%, an unprecedented low which has not been seen since 1969, the same year that American astronaut Neil Armstrong was the first man to set […]
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