Did you know that..?

Is COVID curbing entrepreneurship. One in five self-employed workers anticipates switching to other forms of employment, in a sign that the pandemic is reversing the long-term trend of growth in numbers of people working for themselves. According to a survey by the LSE’s Centre for Economic Performance, more than half of self-employed workers said they had less work than usual in August. In the gig economy, more than a quarter using apps to find work said they’d had more work; however, 78% said they felt their health was at risk while working. The

Times

Family firms show resilience. Family businesses are handling the pandemic relatively well. Even though family-owned firms generally have to make do with fewer resources, they outperformed other companies “in every region and sector” this year, according to Credit Suisse research. Their secret? There’s more solidarity between management and employees. Management tends to feel highly responsible for workers, which in turn leads to flexible employees who are prepared to put in more hours. Family firms were also aided by their longterm planning and their ability to adapt their business models. The Financial Times

A job fit for a Prince. Prince Harry has landed a job as a senior executive at a $1bn Silicon Valley start-up which offers professional coaching to individuals and businesses. The precise nature of his role at the San Francisco based company BetterUp has not been disclosed, but his job title is Chief Impact Officer. Metro

Drowning in the flow of the mighty

Amazon. Every second, its customers spend some $11,000 on its products; in the year of Covid, its value peaked at $1.6trn. Already the world’s richest man before Covid struck, founder Jeff Bezos has seen his personal fortune grow to $178.1bn. Yet even as Amazon puts countless small firms out of business, it continues – thanks to its complex offshore billing structure – to pay a derisory amount of tax: 2.1% last year on UK sales of £13.7bn. The Independent

Don’t let ageism impact recruitment. Losing your job is never easy - but when it happens to you in midlife, re-entering the workforce can feel particularly challenging. The Covid-19 pandemic has seen an increase in redundancies, leaving people in their 50s and older entering a competitive job market in the later stage of their careers. Research from the Centre for Ageing Better shows that 36% of jobseekers aged 50-69 think their age disadvantages them at every stage of the recruitment process. Daily Mail

How migration shifted in 12 months. After a year of upheaval due to both the pandemic and Brexit, the labour market has seen big changes. The UK has seen more workers leave for the EU than arrive from there over the past year, a trend that accelerated after the March lockdown. While Australia was formerly the top destination country for people leaving the UK, the past year has seen Germany take that slot. Arrivals from the rest of the world were a net positive over the course of the year, particularly in the software and healthcare sectors. Office for National Statistics

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