Omicron threatens the nascent UK labour market recovery
The emergence of Omicron, the latest Covid-19 variant, threatens the positive autumn momentum building in the UK labour market. Early indicators suggest only a tiny proportion of the 1.14 million furloughed workers were made redundant after the Coronavirus Job Retention Scheme (CJRS) expired. November’s data, published in mid-December, is also expected to show that positive employment trends continued. If true, this confounds fears of rising unemployment at the end of the CJRS. However, the latest pandemic curveball may blunt the positive momentum.Covid-19 commercial rent arrears and new arbitration scheme
Earlier this month, the UK government published a revised Code of Practice for commercial property relationships alongside a draft Commercial Rent (Coronavirus) Bill which will create a legal arbitration regime in respect of Covid-related rent arrears.Inflation risks and labour market frictions weigh heavy on UK’s economic recovery
Escalating inflation in the UK economy reached a decade-long high in October, as higher energy prices, supply chain disruptions, labour shortages, wage and food price inflation all blunted the economic recovery.Airline industry’s embryonic recovery faces hard landing obstacles everywhere
Pent-up demand in the airline industry might suggest the embattled sector is on the cusp of a recovery. But for every positive indicator, there is a headwind to dampen the optimism. The airline sector's recovery remains fragile, and the embattled global airline industry may still face a harsh winter if a new virus wave emerges.Federal Reserve’s monetary policy: policy error or data-driven prudence?
US Federal Reserve monetary policy continues to play an outsized role in directing the near-term trajectory for the global economy. US monetary policy impacts the domestic economy, the global economy and the financial markets.Retail sector headwinds continue to build under the surface: Knock-on impact on commercial property
Downside risks for the UK retail sector continue to mount as we head into the autumn. A surging Delta variant threatens the momentum of recovery in the economy and consumer spending, while governmentFind the right professional using the below dropdowns. Our reach covers the globe with a network of over 300 offices.
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