The US Labor Market

US Wage Growth Shows Trump Will Inherit Solid Labour Market (Jan. 6)

The end of 2016 saw the most significant wage increase since 2009. The year added more than two million jobs to the economy of the country (even though December’s job creation failed to meet the prognosis). Such considerable achievements mean that the new president has inherited a stable labor market and can expect interest rate rises from the central bank.1

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Corbyn’s Wage Cap Plan Labelled Unworkable but Keeps Pay on Agenda (Jan. 10)

Despite unprecedented wage growth, the issue of the pay gap remains pressing. The Labor leader Jeremy Corbyn suggested that bosses’ salary should not be more than 20% higher than that of the least-earning employee. However, the plan was branded unworkable and the problem of inequality remains unresolved.2

Bleak Trend of Low, Part-Time Wages in the UK is Revealed (Jan. 13)

Meanwhile, the experience of the UK has shown what consequences inequality can bring about: a survey has found out that one in five low-paid men currently work part-time. The tendency, which has been dominant for 20 years, is fraught with the economic recession.3

World’s Eight Richest People Have Same Wealth as Poorest 50% (Jan. 16)

The most threatening result of the unemployment and pay inequality problems the labor sector faces is the growing concentration of wealth. The 8 richest people in the world dispose of the same amount of money as the poorest 50% of the global population.4

Jobs Lost and Broken Relationships: Legacy of the Southern Rail Crisis

The unemployment situation in the railway labor sector of the UK has been much aggravated by 10 months’ disputes between unions and the Southern rail. A lot of jobs have been lost, hitting the whole business.5

British Steel to Reverse Salary Cut for Workers Agreed under Tata

However, the situation is much more promising in other sectors: British Steel promises to reinstate the salary that its employees received before a salary cut in 2016 when the company was about to collapse.6

Jobs for All? In the US that Idea is about to be Tested to Destruction (Jan. 27)

In the US, Donald Trump intends to address the problem comprehensively promising to bring full employment back to the country. Yet, the automation process forcing out physical labor casts doubt on the success of his plan.7

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Guarantee Minimum Wage for Gig Economy Workers, Says Frank Field (Jan. 31)

The gig economy seems the most vulnerable as for the wage problem. The Labor MP Frank Field claimed that workers of such companies as Uber and Hermes should be guaranteed minimum wage to prevent them from losing their jobs.8

US Economy Adds 227,000 Jobs in January – the Best Figures since September (Feb. 3)

Although the problems persist, the US managed to add 227,000 new jobs in January. This is the best result since September 2016.9

No Big Pay Rises for Britons despite Inflation, Says Bank of England (Feb. 8)

In the UK, the situation seems to be less promising. According to forecasts, pay increase is likely to slow down. Wages will decline giving no response to increasing inflation.10

Workers’ Feelings of Powerlessness Fuelling Anger, Says Jobs Tsar (Feb. 13)

Yet, the matter concerns not only wages. According to Matthew Taylor, a lot of employees are dissatisfied with the lack of control in the workplace. This gives serious concerns about the quality of work.11

John McDonnell: We Must Stop ‘Uberisation’ of the Workplace (Feb. 17)

John McDonnell claims that the Labor government is going to create banks that will support collectively owned startups. This is supposed to stop “uberization” in the workplace and support the gig economy. 12

The US has Provided $315m in Financing to Suppliers of Mines Accused of Slave Labour (Feb. 22).

In certain cases, support of labor may seem rather questionable. The Connell Company supplying equipment to African mines has been accused of exploiting slave labor, violating human rights, and harm to the environment. Nevertheless, it has been given 48 insurance policies ($315 million) over the last decade.13

John Lewis Expects to Cut Nearly 800 Jobs (Feb. 23)

While the government is attempting to increase funds and improve working conditions, the private sector strives to cut costs. John Lewis, one of the largest department store chains, decided to cut more than 800 jobs in its largest redundancy rounds.14

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High Energy Bills Here to Stay but Jobs Heading Overseas, Industry Group Warns (Feb. 27)

The Australian labor sector is also going to suffer owing to the dramatic increase in energy cost explained by growing gas prices. This threatens all businesses and thereby puts thousands of jobs in jeopardy.15

Raising Pension Age Will Mean Many People Die before Getting it, Say MPs (Feb. 28)

Another problem facing working people is a pension. The state pension age is to be increased. However, it is already in danger of reaching the point where a lot of workers die before living up to it.16

Sainsbury’s to Cut 400 Jobs in Shakeup of Operations (March 3)

Following the example of John Lewis, Sainsbury’s is going to cut 400 jobs to raise efficiency. 4,000 workers will have to change their working schedules or even acquire new roles.17

Memo to Bosses: Expect Zero Loyalty from your Zero-Hours Workers (March 5)

Despite the popularity of the gig market, zero-hours contracts have proven to be undesirable to most workers. Most of those who have families to support need full-time work with guarantees. That is why people tend to quit their ZHCs as soon as they are offered a contract.18

Bibliography

Allien, Katie. “US Wage Growth Shows Trump Will Inherit Solid Labour Market.” The Guardian, 2017. Web.

Booth, Robert. “Guarantee Minimum Wage for Gig Economy Workers, Says Frank Field.” The Guardian, 2017.  Web.

Booth, Robert. “Workers’ Feelings of Powerlessness Fuelling Anger, Says Jobs Tsar.” The Guardian, 2017. Web.

Butler, Sarah. “John Lewis Expects to Cut Nearly 800 Jobs.” The Guardian, 2017. Web.

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Collinson, Patrick. “Raising Pension Age Will Mean Many People Die before Getting it, Say MPs.” The Guardian, 2017. Web.

Davies, Rob. “British Steel to Reverse Salary Cut for Workers Agreed under Tata.” The Guardian, 2017. Web.

Elgot, Jessica. “John Mcdonnell: We Must Stop ‘Uberisation’ of the Workplace.” The Guardian, 2017.  Web.

Ellen, Barbara. “Memo to Bosses: Expect Zero Loyalty from your Zero-Hours Workers.” The Guardian,  2017.  Web.

Elliott, Larry. “World’s Eight Richest People Have Same Wealth as Poorest 50%.” The Guardian,  2017.  Web.

Farrer, Martin. “High Energy Bills Here to Stay but Jobs Heading Overseas, Industry Group Warns.” The Guardian, 2017. Web.

Garcia, Eduardo. “US has Provided $315m in Financing to Supplier of Mines Accused of Slave Labour.” The Guardian, Web.

Harris, John. “Jobs for All? In the US that Idea is about to be Tested to Destruction.” The Guardian, 2017. Web.

Inman, Phillip. “Bleak Trend of Low, Part-Time Wages in UK is Revealed.” The Guardian, 2017. Web.

Inman, Phillip. “No Big Pay Rises for Britons despite Inflation, Says Bank of England.” The Guardian, 2017. Web.

MacVeigh, Tracy. “Jobs Lost and Broken Relationships: Legacy of the Southern Rail Crisis.” The Guardian, 2017. Web.

Ruddick, Graham. “Sainsbury’s to Cut 400 Jobs in Shakeup of Operations.” The Guardian, 2017. Web.

Rushe, Dominic. “US Economy Adds 227,000 Jobs in January – the Best Figures since September.” The Guardian, 2017. Web.

Treanor, Jill. “Corbyn’s Wage Cap Plan Labelled Unworkable but Keeps Pay on Agenda.” The Guardian, 2017. Web.

Footnotes

  1. Katie Allien, “US Wage Growth Shows Trump Will Inherit Solid Labour Market,” The Guardian, Web.
  2. Jill Treanor, “Corbyn’s Wage Cap Plan Labelled Unworkable but Keeps Pay on Agenda,” The Guardian, Web.
  3. Phillip Inman, “Bleak Trend of Low, Part-Time Wages in the UK is Revealed,” The Guardian, Web.
  4. Larry Elliott, “World’s Eight Richest People Have Same Wealth as Poorest 50%,” The Guardian, Web.
  5. Tracy MacVeigh, “Jobs Lost and Broken Relationships: Legacy of the Southern Rail Crisis,” The Guardian, Web.
  6. Rob Davies, “British Steel to Reverse Salary Cut for Workers Agreed under Tata,” The Guardian, Web.
  7. John Harris, “Jobs for All? In the US that Idea is about to be Tested to Destruction,” The Guardian, Web.
  8. Robert Booth, “Guarantee Minimum Wage for Gig Economy Workers, Says Frank Field,” The Guardian, Web.
  9. Dominic Rushe, “US Economy Adds 227,000 Jobs in January – the Best Figures since September,” The Guardian, Web.
  10. Phillip Inman, “No Big Pay Rises for Britons despite Inflation, Says Bank of England.” The Guardian, Web.
  11. Robert Booth, “Workers’ Feelings of Powerlessness Fuelling Anger, Says Jobs Tsar,” The Guardian, Web.
  12. Jessica Elgot, “John Mcdonnell: We Must Stop ‘Uberisation’ of the Workplace,” The Guardian, Web.
  13. Eduardo Garcia, “US has Provided $315m in Financing to Supplier of Mines Accused of Slave Labour,” The Guardian, Web.
  14. Sarah Butler, “John Lewis Expects to Cut Nearly 800 Jobs,” The Guardian, Web.
  15. Martin Farrer, “High Energy Bills Here to Stay but Jobs Heading Overseas, Industry Group Warns,” The Guardian, Web.
  16. Patrick Collinson, “Raising Pension Age Will Mean Many People Die before Getting it, Say MPs,” The Guardian, Web.
  17. Graham Ruddick, “Sainsbury’s to Cut 400 Jobs in Shakeup of Operations,” The Guardian, Web.
  18. Barbara Ellen, “Memo to Bosses: Expect Zero Loyalty from your Zero-Hours Workers,” The Guardian, Web.
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