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Recent Editions
Human Times
North America
U.S. job openings fell to 6.88m in February from an upwardly revised 7.24m in January, undershooting expectations and signalling a moderation in labor demand after a brief uptick at the start of the year. According to the Labor Department's latest JOLTS report, hiring also slowed markedly, to its lowest level since April 2020, reflecting weaker recruitment across sectors including construction, leisure and hospitality, and business services. The slowdown in vacancies was driven by declines in accommodation and food services, healthcare, and manufacturing, suggesting softness is concentrated in specific industries rather than broad-based. Meanwhile, the quits rate held at 1.9%, matching its lowest level since 2020, indicating reduced worker confidence in securing new roles, while layoffs edged up slightly but remained subdued overall. The ratio of job openings to unemployed workers fell to 0.9, down significantly from a peak of 2 in 2022, reinforcing the Federal Reserve’s view that the labor market is no longer a key source of inflationary pressure.
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Human Times
UK
The Low Pay Commission has said the minimum wage may need to rise by around 3.7% next year to £13.18 an hour to keep up with the likely rise in average earnings. The public body, which advises the government on the rate, gave the forecast as part of an annual consultation with employers, unions and the public. "The current economic uncertainty makes it essential that the Commission hears from those affected by the minimum wage and builds consensus for evidence-based recommendations," Commission chair Philippa Stroud said. Meanwhile, the Commission has said the decision to raise the minimum wage by 6.7% last spring has had a minimal effect on inflation and not led to a significant, economy-wide impact on jobs. Increased rates of the National Minimum Wage, including the National Living wage, come into force from today.
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Human Times
Europe
Unilever's European works council has said that the company's $65bn merger with McCormick could precipitate union action over potential job losses. The labour pushback comes as Unilever CEO Fernando Fernández seeks to streamline operations and focus on high-growth categories. The deal, which combines brands including Hellmann's and Knorr with McCormick's spices, is expected to close next year pending approvals. "We fear that a possible transaction could be accompanied by further personnel measures," the Unilever European Works Council (UEWC), which represents nearly 20,000 employees in Europe and Britain, told Reuters. "Uncertainty among the workforce is high." The UEWC said it would weigh what action might be taken if Unilever does not "find good solutions for affected employees," adding "It could lead from negotiations to maybe strikes in different countries where that is possible. It depends on the legislation around Europe."
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Human Times
Middle East
Most employees are choosing to remain in the UAE amid the ongoing Iran-Israel-US war. “We do continue to see a selective approach to relocation rather than broad movement,” Shayan Sultan, a partner at Fragomen who oversees the firm's practices in the UAE, said. “The immigration system remains largely operational, but we are not seeing any general shutdown or any form of closures, whether that be application processing, government authorities, state environment, has become a little bit more complex, and in some areas, less predictable as well,” he added.
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