Delphine Strauss

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Visa applications for health workers and people coming to Britain for professional, technical and scientific jobs have boomed © FT montage

The UK currently has jobs to spare. Ill health, early retirement and population ageing have all helped shrink the workforce, threatening to stunt growth and prolong high inflation, and leaving businesses in many sectors struggling to fill vacancies.

There is one big development acting as a counterweight to these trends, however — an unexpectedly strong bounceback in all forms of migration to the UK, including in the recruitment of overseas workers.

Despite post-Brexit restrictions, net migration to the UK hit a record high of more than half a million last year. Only a small share of that is due to cross-channel crossings by small boats, which is currently high on the list of government priorities.…  Seguir leyendo »

A kindergarten teacher from Germany, one of the many striking workers across Europe © FT montage/dpa

More than 340,000 Americans will see an increase in their monthly pay cheque tomorrow after Walmart, the biggest private-sector employer in the US, raised its minimum hourly wage to $14. The retailer’s move will in effect set a new floor for pay in many US states.

On the other side of the Atlantic, as many as half a million UK public sector workers have taken industrial action over pay and Germany’s public sector unions are also calling strikes. In Hungary and Poland, wage growth has reached double digits.

Even in Japan, where many people have not had a pay rise for decades, big employers are weighing a shake-up of seniority-based salary structures that could finally put money in workers’ pockets.…  Seguir leyendo »

Where did all the workers go?

Mike, a gregarious ex-rugby player who now burns excess energy by putting in miles on a road bike, is not ready to retire. Yet his job in fintech — which he began in April 2020, a week into the UK’s first Covid lockdown — has proved radically different from the one he signed up for.

Working at senior level in business development, he used to enjoy spending days on the road meeting clients. Long stints of wall-to-wall Zoom calls left him stultified yet still buzzing and unable to sleep in the small hours.

“If my children sat at a screen for 10 to 11 hours a day, I’d lock it in a cupboard”, says Mike, who asked that his surname not be used.…  Seguir leyendo »