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European Edition
13th May 2022
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ILO: Nearly 5m jobs lost in Ukraine since start of Russian invasion
The International Labour Organization (ILO) has estimated that 4.8m jobs have been lost in Ukraine since the start of the war and that number could go up or down depending on how the conflict goes. "The study estimates that if hostilities were to escalate employment losses would increase to seven million," the ILO says. "However, if the fighting was to cease immediately a rapid recovery would be possible, with the return of 3.4m jobs." Some 2.75m of the more than 5m refugees who have fled to neighboring countries since February are of working age, the ILO explains. Of them, 43.5% either left or lost the jobs they used to hold. The ILO says the refugee crisis in Ukraine also is creating labour disruptions in the neighboring countries, of Hungary, Moldova, Poland, Romania and Slovakia. "If the hostilities continue, Ukrainian refugees would be forced to remain in exile longer, putting further pressure on the labor market and social protection systems in these neighboring states and increasing unemployment in many of them," it explains.
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Over 100,000 jobs currently available in Norway
New figures show that in the first quarter of 2022, there were over 100,000 vacancies in Norway. The number of vacancies grew by 7,000 from the fourth quarter last year to the first quarter of this year. This corresponds to an increase of 7.3%, according to the seasonally adjusted figures from Statistics Norway (SSB). Tonje Køber, section manager for the labor market and wages in Statistics Norway, said: "The number of vacancies was at a record high level throughout 2021. This quarter we see a further increase, and the number of vacancies is now over 100,000, the highest level in over ten years." At the same time, unemployment has been at its lowest level since 2009. Figures from the Labor Force Survey (LFS) show that unemployment has fallen to 3.1% this quarter, which is the lowest level measured since 2009. Demand for labor is particularly high in the construction industry, and growth last year was higher than usual.
Demand for staff remains robust
The latest research from KPMG and the Recruitment and Employment Confederation (REC) indicates continued robust demand for staff combined with a shortage of candidates and increased competition has driven many firms to up pay offers for permanent and temporary workers. Employers added permanent staff at the weakest rate in over a year, however, suggesting the labour market might be cooling a bit. Neil Carberry, CEO of the REC, explained: “The number of job placements being made is still growing, but at a more stable rate.” He went on to add: “The labour market has been tightening for months on end, driving near-record growth in starting salaries for new staff . With vacancy numbers also historically high, this is a great time to be looking for a job – and a pay rise to help meet the rising cost of living.”
Riders at Deliveroo unionise with GMB
Over 90,000 self-employed riders at Deliveroo have unionised with the GMB Union, giving them rights to collective bargaining on pay and consultation rights on benefits and other issues, including riders’ health, safety and wellbeing. Will Shu, Deliveroo founder and CEO, said he was delighted to partner with the GMB in a “first-of-its-kind voluntary agreement.” He said the agreement was “exactly the sort of partnership the on-demand economy should be based on” and would give self-employed riders “flexibility, guaranteed earnings, representation and benefits.” However, the Independent Workers Union of Great Britain, which has lobbied for Deliveroo riders to be recognised as employed, criticised the move. The union said Deliveroo had made a “backroom deal” with the GMB, which “presents no threat to their exploitative business practices.” 
Public transit strike in Netherlands
Dutch trade union FNV has said that drivers in regional public transport will strike on Saturday in Enschede, Hengelo, Haaksbergen, and Tilburg.  It is the second strike in a national relay of regional transport strikes for a better collective labor agreement. There has been increasing work pressure in the sector for some time, partly caused by a shortage of personnel, according to the trade union. "With the strikes, the drivers want, among other things, to enforce higher pay in order to attract more young drivers. Up until now, employers have been frankly arrogant towards their own drivers. They do not respond to the signals of high work pressure, they ask for even more productivity and flexibility for the driver," says Marijn van der Gaag, manager at FNV.
Lloyds plans to prioritise junior staff for pay rises
Lloyds Bank chairman Robin Budenberg said the company plans to prioritise junior staff when reviewing pay packages as they were particularly hard hit by the cost of living crisis. During the bank’s AGM on Thursday, Budenberg was accused by union members of giving employees a pay rise that “doesn't even touch the sides” while paying out £1.4bn to shareholders after raking in £5.9bn in profit. Budenberg responded by saying all awards “are determined by the board's remuneration committee following extremely careful consideration” and that the £399m the bank pays in bonuses is lower than many other major UK banks. He added: “However, we know that as we deliver the next phase of our strategy it's vital that we're able to attract and retain talent and reward our colleagues appropriately. Our bonus awards are directly based on a percentage of our underlying profit.”
HSBC launches $1bn lending fund for female entrepreneurs
HSBC is launching a $1bn lending fund to invest in female-owned businesses over the next 12 months. Sam Cooper-Gray, global head of market strategy at HSBC Business Banking, said: "The level of funding received over time by female-led businesses is significantly lower than male counterparts, while the recent impacts of the pandemic have seen these same businesses disproportionately affected.”
UK MPs want dodgy bosses to go to jail
A group of MPs including Kevin Hollinrake and Dame Margaret Hodge have said bankers and accountants should be held responsible for failings in their checks and balances and go to jail if they fail to prevent economic crime. Dame Margaret said: “It is tragic that it has taken the war in Ukraine to bring the dirty money crisis to a head. We must act in a determined and effective way.” The lawmakers have published a manifesto on economic crime urging the Government to step up the fight against fraud and money laundering. The group praised the Government for pushing ahead with its Economic Crime Bill but urged ministers to strengthen it in the four key areas of transparency, enforcement, accountability and regulation.
Twitter announces hiring freeze and departure of two senior leaders
Parag Agrawal faces a potential investor revolt at the Twitter’s AGM later this month over his $30.4m pay package with ISS and Glass Lewis both recommending a vote against the CEO’s remuneration plan.
Young Londoners given chance to work on Hollywood productions
London Mayor Sadiq Khan has announced a deal with Hollywood's Universal Studios and Film London that will see young people in the capital given the opportunity to work on movie productions being made in Britain. Universal Studios will enable hundreds of of trainees to work on films, with priority given to Londoners from diverse communities under-represented in the film industry. Jobs as part of the initiative will include digital imaging, props, costumes and being an assistant director.

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