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OECD Countries - Recovery underway but surrounded by risks

26 May 2011

The global recovery is firmly under way, but is taking place at different speeds across countries and regions, according to the latest Economic Outlook published by the Organisation for Economic Co-operation and Development (OECD).

Historically high unemployment remains among the most pressing legacies...

UK - Public sector cutbacks and marginal private sector growth impact on ability to reward employees

26 May 2011

Just under two-thirds (65%) of employers have, or are planning to, increase base pay in 2011; roughly a quarter (26%) have or will freeze pay. Almost one in 10 (9%) have decided to delay the pay review and almost all (99%) plan not to cut pay. These are the top line findings of the Chartered Institute...

Ireland - Exports rising but with limited impact on unemployment

26 May 2011

Irish exports increased strongly during 2010, exceeding Gross Domestic Product (GDP) for the first time, according to the National Irish Bank Foreign Direct Investment Quarterly Report for Summer 2011.

Goods exports were +7% higher in 2010 than in 2009 and have started strongly in 2011, said the report's...

UK - Employment agencies may face demands from clients for VAT repayments

25 May 2011

VAT specialists at accountants Smith & Williamson warn that agencies supplying self-employed temporary staff could face demands from clients for VAT refunds running to thousands of Pounds and going back several years.
In the case of Reed vs HMRC, the first tier tax tribunal held that an...

Portugal - Multipessoal's revenues up +22%

25 May 2011

Revenues were up by +22% from 54.9 million Euro in 2009 to 67 million Euro in 2010 at staffing agency Grupo Multipessoal (owned by financial services group Espirito Santo).

Revenues generated from agency temporary employment were up by +19% from 21 million Euro in 2009 to 25 million Euro in 2010.


World - Young workers disengaged by pressures of work

25 May 2011

Young workers around the world are lacking in engagement with their employers and are the most affected by perceived pressures at work, posing long-term retention and management problems for companies and countries, according to new research conducted among more than 30,000 employees in 29 countries...

UK - Public sector job cuts will damage frontline delivery

25 May 2011

The public sector is facing a critical loss of employees, with almost half (45%) of staff in the sector facing redundancy or actively seeking work in the private sector, according to new research published today by staffing agency Hays. Although the public sector is faced with the need to make cuts,...

Sweden - 44,000 more people at work

25 May 2011

During the first quarter of 2011 the number of unemployed aged 15 to 74 amounted to 401,000 persons, which indicates a decrease of the number of unemployed by -44,000 persons, according to the latest data published by Statistics Sweden (SCB).

The decrease is mostly explained by a decrease in male unemployment...

UK - GDP up +0.5%

25 May 2011

Gross Domestic Product (GDP) in volume terms increased by +0.5% in the first quarter of 2011, according to the latest statistics published today by the Office for National Statistics (ONS).

The small increase cancels out a -0.5% decrease in GDP recorded in the final quarter of 2010. It also means that...

UK - Bank lending to SMEs also critical for recruitment sector

25 May 2011

As pressure grows for banks to meet targets for lending to small and medium-sized enterprises (SMEs), the Recruitment & Employment Confederation (REC) has stressed the importance of such funding for recruitment agencies.

The top five UK banks missed their first-quarter target for lending to SMEs...