Business News Round Up (05/06/2020)
UK consumer confidences touches new decade low as Covid hits economy
Consumer confidence in the UK fell to its lowest level since the global financial crash towards the end of May as coronavirus restrictions were eased. Shopper sentiment dropped two points to -36 during the past two weeks, just three points shy of historic lows recorded during the financial crisis of 2008. Concerns over the state of the UK economy over the next 12 months mounted, according to GfK’s latest Consumer Confidence Index, as that metric fell three points to -57. Consumers’ confidence about their own personal finances also declined.
https://aboutmanchester.co.uk/uk-consumer-confidence-touches-new-decade-low-as-covid-hits-economy/
Permanent NW appointments continue to fall sharply – KPMG
The latest KPMG and REC, UK Report on Jobs survey pointed to another sharp reduction in recruitment activity in the North West during May. The report highlighted both permanent placements and temporary billings fell sharply, though not quite as severely as in April. The drop in demand for both permanent and temporary staff in the North West extended the current period of decline to three months. Permanent vacancies contracted at the second-quickest pace on record, after April, with the rate of decline slightly faster than the UK average.
https://www.insidermedia.com/news/north-west/permanent-nw-appointments-continue-to-fall-sharply-kpmg
Scottish biochemical SMEs set to benefit from new project
A new project has been launched to benefit Scottish SMEs working in the high-value chemical and biochemical supply chains. The Scottish Outreach (SCOUT) project will deploy the technology of partners in the programme to accelerate and de-risk the growth of Scottish SMEs by enabling new partnerships and increased technology adoption. 50 SMEs will be selected from across Scotland to attend a series of planned innovation clinics, supported by partner organisations. Companies will be connected to new networks and supply chains to encourage partnerships and attend workshops with a focus on common technology and business challenges, including equality, sustainability and diversity.
https://biomarketinsights.com/scottish-biochemical-smes-set-to-benefit-from-new-project/
‘Action needed now’ as job opportunities plummet
Post-industrial northern areas and coastal towns are among the worst affected by plummeting job opportunities since the coronavirus crisis began. Analysis by The Institute for Employment Studies of the claimant-vacancy ratio – which compares the number of people claiming jobseekers’ allowance with the number of jobs being advertising – found that places “with a significant industrial legacy”, as well as “ethnically diverse metropolitan areas” were being particularly impacted.