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Recent Editions
North America
Human Times
The unemployment rate for U.S. IT workers decreased slightly to 2.8% in April from 3% in March, reflecting targeted hiring by companies to bolster their artificial intelligence initiatives. According to CompTIA, technology firms like Microsoft and Salesforce hired approximately 4,280 workers in April, primarily in technology services and software development roles, as well as in cloud infrastructure and data processing. This hiring trend is partly in preparation for future growth, particularly in areas that support generative AI technologies. Despite this, the broader U.S. job market saw a slowdown, with only 175,000 jobs added in April compared to over 300,000 in March, and the overall unemployment rate increased slightly to 3.9%. Tech companies are also contemplating AI as a cost-effective alternative to hiring, which could impact entry-level IT roles traditionally filled by humans.
Full IssueUK
Human Times
Trade unions have warned Labour not to dilute its package of workers' rights. Unite general secretary Sharon Graham said that crossing a red line would occur if the party does not fully commit to delivering its 'New Deal for Working People.' The plan, proposed by Angela Rayner in 2021, includes radical changes such as banning zero-hour contracts, ensuring regular hours for 12 weeks or more, and making flexible working a right from day one. Shadow ministers are discussing how to address concerns and are expected to seek union approval for the revised plan.
Full IssueUSA
Education Slice
Over the past 15 years, racial and economic segregation has significantly increased in large U.S. school districts, according to a study by Sean Reardon and Ann Owens of the Stanford University Center on Poverty and Inequality. The study tracked the demographics of schools from 1967 to 2022, highlighting a regression in student exposure to other races and income levels since 1991. In particular, 533 school districts serving the majority of Black K-12 public students saw a 25% increase in Black-white segregation. Hispanic and Asian students, as well as those eligible for free meals, also experience more segregation now compared to 1991. The researchers attribute the rise in segregation not to neighborhood segregation, which has declined, but to the cessation of efforts to integrate schools beyond neighborhood patterns, coupled with the expansion of charter schools and other school choice programs following reduced court oversight. This shift away from court-enforced integration policies, such as bussing and rezoning, has allowed schools to revert to their local demographic patterns, intensifying segregation, according to the research.
Full IssueUSA
Accountancy Slice
The IRS is considering reopening its employee retention credit voluntary disclosure program, allowing employers to voluntarily repay 80% of the amount received for improperly claimed ERC. In exchange, they would avoid penalties or interest, and the IRS would not investigate their tax returns. The program, which stopped accepting applications in March, may reopen in a reduced capacity.
Full IssueScotland
Legal Matters Scotland
The Law Society of Scotland is to hold a webinar to provide legal professionals with foundational knowledge of space law and equip them with the skills required to take advantage of the growing space law sector. The webinar will cover topics such as the laws which apply in outer space, legislation governing space activity, and the legal challenges in the space sector. Speakers include Naomi Pryde and Louis Fairweather.
Full IssueNorth America
Legal Slice
Law firms are experiencing a strong start in 2024 after a lackluster 2023, with a 1.9% increase in demand for legal services in the first quarter. Billing rates have also risen by 6.6% compared to last year. Midsize law firms have seen significant growth in revenue and profits, with a 5.7% increase in revenue and a 5.8% rise in profits. The growth in demand for legal services is mainly driven by litigation, which saw a 3.8% increase in the first quarter. However, demand for corporate practices remains slow, with only a 0.6% growth. Law firms are investing more in technology, with a 6.6% increase in spending. It remains to be seen whether law firms will be able to collect on the higher billing rates imposed in 2024. Realization, which refers to the proportion of billed work that firms collect on, was down in 2023. Technology integration, particularly artificial intelligence, is becoming more prevalent in the legal industry. Overall, law firms are optimistic about the future and are hopeful for continued growth in 2024.
Full IssueEurope
Risk Channel
The Italian government is working with the European Union to ensure that firms affected by Russian sanctions receive compensation. Russia has placed the assets of several Western companies under temporary management as retaliation for actions against Russian businesses. President Vladimir Putin recently took control of Italian company Ariston and German company BSH Hausgeraete. The EU has criticized Russia for its disregard of international law. Italy's Foreign Minister Antonio Tajani has discussed the case with EU partners and stated that the issue of sanctions can only be addressed in the European context. The government is studying the idea of allowing companies whose assets have been seized by Moscow to access frozen European assets belonging to JSC Gazprom Household Systems or other companies used by Putin to control Russian units of EU groups.
Full Issue