• Brits are working again, as new data shows the number of employees has returned to pre-pandemic levels
  • But the travel industry is bracing for a wave of redundancies once furlough support ends
  • JD Sports’ US expansion has paid off, as demand for sports fashion booms

UK labour market regains pre-pandemic strength

The UK jobs market is booming, but will the impending end to furlough temper its expansion?

The latest figures from the Office for National Statistics showed another 241,000 employees were added to UK payrolls in August, taking the total number of people in work to 29.1m – a level last recorded in February 2020. Meanwhile the number of job vacancies during the three months to August reached 1.03m, breaching the 1m mark for the first time and around a quarter of a million higher than the number of vacancies between January and March 2020.

For those who have been holidaying in the UK over the summer and noticed the number of job ads in restaurant windows, it will come as little surprise that the sector which saw the biggest rise in vacancies was accommodation and food service. Vacancies here rose by 75 per cent, although the increase may drop as seasonal factors fall away. 

Those in work are still enjoying strong pay growth. Average pay was up 8.3 per cent in May to July, although the market is being distorted by a decline in low-paying jobs and sharp wage inflation in sectors where there are severe shortages of workers, such as haulage.

But the big question remains: what effect will the ending of furlough support later this month have on the jobs market? The ONS reported that more than 1m people were still being supported by the furlough scheme at the end of August. GD

Read more: 

Is there a national labour shortage?

What does the lorry driver shortage mean for supermarket earnings?

Save travel industry by ending harsh rules, says ABTA

When the government does withdraw coronavirus job support, travel companies are likely to be hit harder than most. The UK’s leading travel agency body warned today that the industry faces a wave of redundancies when the furlough scheme ends later this month.

The Association of British Travel Agents argued the government should kill its current traffic light system, maintaining only a red list for the highest risk destinations. It also called for the end of expensive PCR testing for vaccinated travellers returning from “lower-risk countries”. New foreign holiday bookings this summer were down 83 per cent on 2019, ABTA said, while 58 per cent of holidays booked for July and August had to be postponed or cancelled. 

The government is reportedly considering changing testing requirements, and the traffic light system could end within weeks. But the industry is demanding action soon. On Monday, Heathrow Airport said that its August traffic figures were down 71 per cent compared to 2019, adding it had gone from being Europe’s busiest airport to only the 10th busiest. AH 

Further reading: 

EasyJet

This week expanded federal unemployment insurance benefits expired for millions of workers. For those in states that did not already end the $300 federal bonus and expansions of unemployment benefits to workers who would not traditionally receive them, this will mean an end to over a year of unearned income. Despite the fear-mongering that unemployed Americans will face financial ruin, there are reasons to believe that not only is this expiration overdue but that workers, especially women, will be better off for it and end up with benefits that exceed a monthly check.

Unemployed workers are entering a labor market that is much stronger than one year ago; one that gives workers more leverage to negotiate on their own terms.

There are a record-high 10.9 million open positions according to data released Wednesday by the Bureau of Labor Statistics (BLS). During the month of July, the largest increases in job openings occurred in industries that tend to attract women. Health care and social assistance added 294,000 new jobs, and accommodation and food services added 115,000 positions. Although retail, a popular industry for female workers, added fewer new positions in July than it did in June, it still added far more new positions than months prior. For women, there is an added benefit to jobs in hospitality and retail industries: flexibility. Many hospitality workers choose this line of work because they can earn a living around their own schedule. It allows them to balance employment with other responsibilities such as raising children, caregiving for sick or aging relatives and even starting their own businesses.

With ample positions waiting to be occupied, workers have greater choices among positions and more leverage in negotiating with future employers to secure the employment situation that meets their needs.

Workers will also find that wages are generally higher than when they left the jobs market last year. The recent August jobs report may have delivered a disappointing 235,000 total jobs created, but it did have positive news for workers: Wages continue to rise at a fast pace. Average hourly and weekly earnings both increased by 4.3 percent from one year prior. Wages in leisure and hospitality jumped 10.3 percent over the year.

These wage increases are critical to low-income workers who are losing more of their paychecks to inflation. Everything from bread to diapers to gas is more costly today than a year ago, so while a pay increase is a welcome benefit of rejoining the workforce, rising inflation will eat away at those gains. The double-edged sword of rising wages is that it is contributing to inflation. When employers raise pay to attract workers, they pass those increased labor costs along to customers. This vicious cycle will continue until workers rejoin the labor force.

Workers, especially those at the lower end of the income ladder, know that their labor is more valuable and are raising their expectations for how much they should be paid. According to a survey released this week by the New York

If you are out of work, there’s one consolation: There could be worse times to look for a job.

Labor Day 2021 finds labor-friendly conditions. Companies are reporting difficulty filling open positions, whether the jobs are for cook, software engineer or financial analyst. Many have raised base pay, offered bonuses and inducements such as flexible schedules to get people to sign on.

There’s a catch, though. It’s the Delta variant of COVID-19, which has canceled events and threatened the travel and hospitality industries anew. Its effect is showing up in federal reports covering the job market, although executives remain upbeat about the acceptance of vaccines and the economy’s continued recovery during the pandemic.

“I have never seen a better job market in my 25 years in business than I’ve seen today,” said Tom Gimbel, CEO of Chicago-based LaSalle Network, a staffing agency for white-collar jobs. He cited demand in areas such as information technology, sales and marketing and human resources, and a 35% increase in annual revenue for his firm.

Gimbel speculated that if you stripped out airlines, hotel and restaurant jobs, “I think you’d have the lowest unemployment on record.”

The sectors he mentioned are on the front lines of the Delta threat and some of its businesses have curtailed hiring or closed. Others still need people.

Sam Sanchez, whose restaurants include Moe’s Cantina and Tree House Chicago in River North and Old Crow Smokehouse in Wrigleyville, said his hiring needs range from management roles to the back of the house. The labor shortage has forced him to cut restaurant hours and close entirely on some days.

“Many workers we had have gone elsewhere, to other industries,” he said. Sanchez said he’s raised starting hourly wages, which were about $18, into the low $20s.

“We’re getting a different type of employee now. You have to train them,” he said. But Sanchez said restaurant work can be a terrific prospect for the right person. “You can come in as a dishwasher and end up owning the restaurant,” he said.

Sam Sanchez, the owner of the Old Crow Smokehouse in Wrigleyville, at the restaurant’s rooftop bar on Friday, Sept. 3, 2021.

Sam Sanchez, the owner of the Old Crow Smokehouse in Wrigleyville, at the restaurant’s rooftop bar on Friday.
Tyler LaRiviere/Sun-Times

The Illinois Restaurant Association has joined with the industry’s national lobbying group to ask Congress to create a class of immigrant worker visas to help it with the labor shortage.

The U.S. Labor Department said Friday the nation’s unemployment rate in August fell to 5.2% from 5.4% in July. But it also said only 235,000 jobs were created, a disappointing figure to economists geared up for more growth after two prior months saw the country gain nearly 2 million jobs.

“The August job gains were somewhat weaker than expected; although it is not clear that it should be viewed as a seriously negative report,” said Dean Baker, senior economist at the Center for Economic and Policy Research. Business categories that shed jobs or showed little change in August included retail trade, leisure and hospitality and construction.

The Illinois jobless rate, to

CAPITAL REGION — Labor Day 2021 finds the Capital Region labor market still waiting to turn the corner, with many employers having continued difficulty hiring enough people.

The list of potential reasons is often recited: Fear of COVID, lack of childcare options, unwillingness to accept low or medium wages, government policies and payouts removing some of the imperative to earn a living.

That last point has been a recurring narrative in the business community through the pandemic: Enhanced benefits make unemployment more lucrative than employment for many people, particularly when the costs of going to work (child care, meals away from home, commuting) are factored in.

The U.S. Bureau of Labor Statistics reports that in August 2021, the national workforce participation rate — the percentage of working-age Americans employed or actively seeking employment — stood at 61.7%, down from 63.4% in January 2020, the month before COVID began to spread in the United States.

The New York state Department of Labor estimates that 518,600 people were employed in the Capital Region in July 2021. This compares with 504,100 in July 2020 and 531,700 in July 2019.

The shrinking labor force has left many jobs vacant.

The response by employers has ranged from lowering standards to cutting operating hours to raising starting pay — anything to get people to fill out applications

Money is something they use to catch the job hunter’s eye.

UPS is hiring package handlers at its Latham facility at $26.25 an hour, counting attendance incentives.

ADUSA, the Schodack distribution center serving Hannaford, offers experienced truck drivers $85,000 a year to start, plus a $10,000 signing bonus.

Training helps, too.

CDTA will take people with no commercial license and train them to drive a bus.

GlobalFoundries has an apprenticeship program for young people who lack experience but have a desire to work in the growing semiconductor industry.

Others take a different route, and try to accommodate the needs and wants of their employees so they’ll want to work there.

CHANGE OF PLAN

Heidi Knoblauch has worn a number of hats, including chairperson of Troy’s Industrial Development Authority and Local Development Corp. and venture and growth manager at Pioneer Bank.

She’s also an entrepreneur, opening Plumb Oyster Bar in Troy in 2016 and reopening it late last month after a COVID hiatus.

So how does a restaurant find help in one of the tightest sectors in a tight labor market?

Listen to the employees and reshape the business plan, Knoblauch said. All of the people who reopened Plumb with her Aug. 26 were previous employees who wanted to return under the right circumstances.

“I think the [employers] who are really having trouble with their workforce are looking at their industry with a pre-pandemic lens,” she said. “Employers that are going with the flow are having more success attracting employees. 

“It’s very simple — you just ask them. You say, ‘What is it that gets you excited about this place?’ It doesn’t matter what I want.”

It’s not an autonomous

There are three sets of implications this Covid surge has for hiring in the US. We’ll start to see the Delta variant’s ripple effects as soon as this week’s jobs report, in slower employment and labor force growth, as well as a more sluggish rate of offices reopening.

While we are unlikely to return to the restrictive shutdowns we saw last year, the fear of getting infected is likely to impact willingness to engage in in-person activities, including a wide range of consumption categories and work. It is now clear that Covid-19 will stay with us for the foreseeable future, and spending on in-person services in December 2021 will be weaker than had been expected before the Delta variant emerged. As a result, the demand for workers providing these services will be weaker and employment recovery by December 2021 will be far from complete.

While economic data for July was still solid, August indicators show softening. Real-time statistics show a significant drop in air travel sales, as well as movie theatres’ box office returns since July. And Google mobility measures show a drop in travel and leisure-related activities. Early readings from August suggest that consumer confidence has declined, while some businesses are seeing slowing sales.
Here's what the Delta variant means for the economic recovery

The increase in infection risk is likely to significantly impact two groups in particular: senior citizens and families with children younger than 12 (and thus not eligible for the vaccine). These groups spend disproportionally more on consumption categories, such as vacations, restaurants, childcare and services catering to kids. These industries are likely to recover more slowly than expected. In addition, given the ongoing global spread of the pandemic, international tourism will not be back to normal anytime soon.

As a result, this week’s jobs report and September’s will likely show slower than originally expected employment growth, especially in in-person services. In the previous Covid-19 surge from November to January, employment in leisure and hospitality not only slowed down, but declined during that period. The number of jobs available in December 2021 in these industries is likely to be lower than originally expected.

Labor supply will remain tight

We hoped that Covid’s continuing decline would reduce or eliminate barriers to returning to work, such as fear of infection or the threat of continued remote learning. But Delta’s persistence will keep people out of the job market. Some older workers who have been waiting for infection risk to disappear before they return to work may now retire.

In this week’s jobs report and the ones that follow, we are likely to see the recovery in labor force participation lose steam. At the same time, we expect more unemployed workers to find work as the high unemployment benefits gradually expire.

Remote work will make it harder to recover

Delta’s rise will slow the return to the office. The delay will lengthen and increase the economic damage to city centers, where many office buildings are located and where workers spend money on food, retail and other consumption categories.

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Top key players: Berkshire Hathaway Specialty Insurance., Travel Insured International., Tokio Marine HCC Medical Insurance Services Group., AIG Travel., CSA Travel Protection., Seven Corners Inc., Travel Safe., and Allianz Global Assistance.

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Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.

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The report includes

Many organizations are financing in R&D to improve and create newer goods and applications so that they may provide a wider range of products to budding consumers and satisfy a larger sales count of end-use products and applications. The drivers driving the Family Travel Insurance Market expansion over the forecast period include speedy expansion, a rise in disposable income, and an increase in understanding about apprehensions. Consumption and usage is becoming more communal, which is driving demand for the entire industry. Demand for the marketplace will be fueled by a positive viewpoint on objects. Mergers and acquisitions are a common occurrence in this industry. These mergers and acquisitions have been incorporated in this research to help us in determining the strategic efforts taken by the market’s top players as well as emerging firms.

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Top key players: Allianz, AIG, Munich RE, Generali, Tokio Marine, Sompo Japan, CSA Travel Protection, AXA, Pingan Baoxian, Mapfre Asistencia, USI Affinity, Seven Corners, Hanse Merkur, MH Ross, and STARR

The main goal for the dissemination of this information is to give a descriptive analysis of how the trends could potentially affect the upcoming future of Family Travel Insurance Market during the forecast period. This markets competitive manufactures and the upcoming manufactures are studied with their detailed research. Revenue, production, price, market share of these players is mentioned with precise information.

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This report provides pinpoint analysis for changing competitive dynamics. It offers a forward-looking perspective on different factors driving or limiting market growth. It provides a five-year forecast assessed on the basis of how they Family Travel Insurance Market is predicted to grow. It helps in understanding the key product segments and their future and helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments.

Key questions answered in the report include:
What will the market size and the growth rate be in 2027?
What are the key factors driving the Global Family Travel Insurance Market?
What are the key market trends impacting the growth of the Global Family Travel Insurance Market?
What are the challenges to market growth?
Who are the key vendors in the Global Family Travel Insurance Market?
What are the market opportunities and threats faced by the vendors in the Global Family Travel Insurance Market?
Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.

More Information:

The report includes six

Multi-trip Travel Insurance Market

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Multi-trip Travel Insurance Market: By Type:-
⦿ Personal Insurance
⦿ Group Insurance

Multi-trip Travel Insurance Market: By Applications:-
⦿ Insurance Intermediaries
⦿ Insurance Company
⦿ Bank
⦿ Insurance Broker
⦿ Others

Multi-trip Travel Insurance Market: Key Players:-
⦿ Allianz
⦿ AIG
⦿ Munich RE
⦿ Generali
⦿ Tokio Marine
⦿ Sompo Japan
⦿ CSA Travel Protection
⦿ AXA
⦿ Pingan Baoxian
⦿ Mapfre Asistencia
⦿ USI Affinity
⦿ Seven Corners
⦿ Hanse Merkur
⦿ MH Ross
⦿ STARR

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Market Overview: It incorporates six sections, research scope, significant makers covered, market fragments by type, Multi-trip Travel Insurance Market portions by application, study goals, and years considered.
Market Landscape: Here, the opposition in the Worldwide Multi-trip Travel Insurance Market is dissected, by value, income, deals, and piece of the pie by organization, market rate, cutthroat circumstances Landscape, and most recent patterns, consolidation, development, obtaining, and portions of the overall industry of top organizations.
Profiles of Manufacturers: Here, driving players of the worldwide Multi-trip Travel Insurance Market are considered dependent on deals region, key items, net edge, income, cost, and creation.
Market Status and Outlook by Region: In this segment, the report examines about net edge, deals, income, creation, portion of the overall industry, CAGR, and market size by locale. Here, the worldwide Multi-trip Travel Insurance Market is profoundly examined based on areas and nations like North America, Europe, China, India, Japan, and the MEA.
Application or End User: This segment of the exploration study shows how extraordinary end-client/application sections add to the worldwide Multi-trip Travel Insurance Market.
Market Forecast: Production Side: In this piece of the report, the creators have zeroed in on creation and creation esteem conjecture, key makers gauge, and creation and creation esteem estimate by type.
Research Findings and Conclusion: This is one of the last segments of the report where the discoveries of the investigators and

Post thorough primary & secondary research on Adventure Sports Travel Insurance industry segments, competitive landscape, historical data, and Covid-19 impact, industry experts provide accurate forecasts for 20XX-20XX.

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