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Labour to set Bank of England productivity target

“Labour will commit the Bank of England to a productivity target and move part of its operations to Birmingham, if it wins the next election” writes Ben Marlow for telegraph.co.uk. Revealed as part of the party’s plans for the financial sector, a Labour government would require Threadneedle street to commit to a 3pc productivity growth goal to be delivered in collaboration with the government. The “financial… Source: telegraph.co.uk Share This:

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U.S. productivity in first quarter cut almost in half to 0.4% growth

“The numbers: An already soft report gets even weaker: The productivity of American businesses rose a revised 0.4% annual pace in the first quarter instead of 0.7% as originally reported” writes Jeffry Bartash for marketwatch.com. The mild rate of increase in labor costs gives the Federal Reserve more cushion to lift U.S. interest rates at a leisurely pace.One bright spot for business is the still-slow rise in labor costs despite gradually increasing wages and higher prices for raw materials. Source: marketwatch.com Share This:

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How the U.S. can avoid a slow-growth future

“And more investment in turn raises economic growth rates, and that could help us avoid a slow growth future” writes Linda Yueh for marketwatch.com. It is within our control to invest in ways that better embed technologies, which in turn would help us to avoid a slow growth future.The technologies of today don’t seem to be greatly raising economic growth, and productivity growth has markedly slowed.The United States, like the eurozone, Japan and the U.K., has been experiencing a slowdown in productivity growth since the mid-2000s.This was a term first…

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Western economies are ready to spend more to boost productivity

“However, a shortage of workers and a lack of spare capacity in industry mean pressure is mounting to invest more and boost productivity” writes Tim Wallace for telegraph.co.uk. He estimates productivity growth lags the capacity constraints by up to two years.Productivity – the amount of value produced per hour worked – has grown at a painfully slow rate across much of the rich world since the financial crisis. The economic fallout from the financial crisis kept companies from facing such challenges for several years. Source: telegraph.co.uk Share This:

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Casual attire can hurt business productivity: book

“But there is a growing sentiment that dressing down leads to a loss of productivity in the workplace” reports nypost.com. And Casual Fridays may also benefit employee morale and productivity. “Although the tendency to have casual dress in the business world has been increased, this is not to say that the change has been bad,” wrote Sarah Maloney Hughes of The Master’s College in a research paper from 2002. “Employees themselves are enjoying this alteration in the traditional corporate world. Source: nypost.com Share This:

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Employees Who Use Social Media for Work Are More Engaged — but Also More Likely to Leave Their Jobs

“In my study, 76% of employees using social media for work took an interest in other organizations they found on social media, compared to 60% of employees using social media only for leisure” reports hbr.org. Research has shown that 82% of employees think that social media can improve work relationships and 60% believe social media support decision-making processes.They can leverage social media training to make employees focus on positive social media behaviors, like collaboration, which can increase satisfaction and attachment, countering turnover risks.Employers typically worry that social media is a…

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Bank of England’s Broadbent apologizes for ‘menopausal’ remark

“Bank of England Deputy Governor Ben Broadbent apologized on Wednesday for saying Britain’s economy was going through a “menopausal” phase in a comment that attracted criticism and could revive concern about gender diversity at the bank” writes Simon Dawson for cnbc.com. Broadbent, 53, had told the newspaper that years of poor productivity and weak wage growth meant Britain was going through a “menopausal” moment.In his apology, Broadbent said he had been trying to explain the word “climacteric”, a term used by economic historians to describe a period of low productivity…

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GBP News 

UK productivity grows strongly but it still lags behind Europe

“British businesses need to up their game and be more productive or risk losing out as the country leaves the European Union, industry bosses have warned” writes Phillip Ullmann for telegraph.co.uk. But, the UK’s output per hour is still around a quarter behind competitors like France and Germany, meaning it takes British workers five days to produce what others achieve in four. “The UK has a long way to go in order to catch up with our European neighbours,” said Tony Danker, chief executive of Be the Business, an industry-led organisation…

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