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FT editor Roula Khalaf has chosen her favorite stories in this weekly newsletter.
Work life is deeply personal, but to understand broader labor market realities, we need to look at data, from measuring remote work rates to monitoring pay gaps.
The pandemic, cost of living crisis, and advancements in AI are having a major impact on jobs and recruitment. We selected six trends to test your knowledge of how these factors shape the job market. How representative are your work life experiences?
See how accurately you can fill in the missing information in the incomplete diagram below.
remote work
While countries have returned to normalcy after the pandemic, many workplaces are still struggling to create the best schedules for their staff and business. The proportion of remote and hybrid job openings in many countries remains much higher than in 2019, as companies figure out the long-term balance of in-office attendance.
However, this year something like a reversal occurred. Amazon CEO Andy Jassy announced a tough five-day inauguration in September. The move puts him among a growing number of leaders pushing to eliminate remote work, including JPMorgan Chase & Co.’s Jamie Dimon and Tesla Inc.’s Elon Musk. Is the US becoming an outlier?
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Gender wage gap
In the United States, wages have increased in real terms since 2000. But have wages increased at the same pace for men and women? Cities and states across the United States, as well as the United Kingdom, are using new transparency to narrow the well-documented gender pay gap. introduced the law. Some jurisdictions prohibit employers from asking about candidates’ salary history and prohibit organizations from penalizing workers who share salary details.
Did their efforts help narrow the wage gap?
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A.I.
The launch of OpenAI’s ChatGPT in 2022 brought excitement and anxiety as it unlocked a powerful new resource for many white-collar workers, but also fears that they would lose their jobs to the technology. has also increased.
Workplaces are scrambling to keep up with and take advantage of rapidly evolving technology. Employers are starting to provide tools to their staff, and many are looking for a market for AI specialists. Recruitment is fiercely competitive, with the number of AI jobs surging this year and many senior positions paying high salaries.
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doctor vs banker
In the UK, industrial action was taken this year to see junior doctors receive a 22% pay rise over two years to address 15 years of inflation-driven wage declines that contributed to the NHS doctor loss (‘Drexit’). It became. Increasing demands for productivity and fears of burnout are giving rise to similar voices among American physicians. But how is the country’s healthcare industry different from other industries when it comes to recruitment?
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Many sectors have returned to pre-coronavirus hiring rates. But the growing U.S. population, especially those over 65, and a third of physicians likely to retire in the next decade ensure that the medical field remains in high demand.
older workers
As life expectancy increases, social security budgets are under pressure. Faced with aging populations and labor shortages, many countries, including the United States and the United Kingdom, have raised the age at which citizens receive statutory pensions, often meeting strong opposition.
Workers in France went on strike after President Emmanuel Macron pushed through with raising the state pension age, while China announced it would raise the retirement age for the first time since 1978 in a bid to expand its workforce.
Participation numbers for typical working-age people aged 15 to 64 have remained largely unchanged across OECD countries since the 1990s, but how are these trends impacting older generations?
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self-employed
The appeal of being your own boss is perhaps greater than ever. The advent of telecommuting has given people more flexibility, and the rapidly expanding gig economy has provided opportunities for additional work. But what proportion of the UK workforce is currently self-employed?
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The pandemic and resulting UK furlough scheme has meant that many people who previously described themselves as self-employed are now able to reclassify as employed to apply for support, according to the Office for National Statistics. That’s what it means.
This means that some elements of the decline are man-made, but include the UK Supreme Court’s ruling that Uber workers are employees, and This means that other factors are also contributing, such as the IR35 reform, which classifies the country as ‘a person’.
