Podcast Summary
The Value of LinkedIn for Hiring and UK's Record Net Migration: LinkedIn is a crucial hiring platform with over 70% of its users not visiting other job sites. The UK's net migration reached a record high of 745,000, sparking debate on its economic implications and the government's plan to reduce it by a third.
LinkedIn is a valuable resource for hiring professionals, as over 70% of its users don't visit other leading job sites. Sandra, a potential candidate, emphasizes this point as she shares how she wasn't found through traditional hiring methods. Meanwhile, in other news, the UK's net migration has reached a new record high of 745,000, with critics and supporters voicing their opinions on the implications. The government aims to reduce immigration by a third through new plans, but economic experts like David Smith of The Sunday Times question the feasibility of this goal, given the UK's reliance on immigration for its economy. Overall, these stories underscore the importance of utilizing various platforms for hiring and the ongoing debate surrounding immigration in the UK.
UK sees record net migration with over 672,000 new arrivals: The UK has experienced a surge in legal net migration, with over 672,000 people entering the country in the last year, primarily from non-EU countries like India and Nigeria, while illegal migration numbers remain relatively low.
The UK is experiencing a significant increase in legal net migration, with over 672,000 people entering the country in the latest 12 months. This is a marked shift from just a few years ago when net migration was around 300,000. The majority of this new migration is coming from non-EU countries, particularly India and Nigeria. While there is also illegal migration, the numbers are much lower, with approximately 40-50,000 people arriving irregularly each year. The EU migration flow, which was a significant contributor to net migration in the past, has reversed since the UK left the EU in 2020. The government's focus on illegal migration through small boats has dominated the discussion, but it represents only a fraction of the total migration numbers.
Post-Brexit Shift in UK Migration Patterns: The UK government has introduced a 5-point plan to curb legal migration, focusing on increasing the minimum wage, expanding tech use, a new points-based system, border control resources, and stricter student visa rules.
Since Brexit, the UK has seen a shift in migration patterns from primarily EU workers to a larger number of non-EU workers, students, and their dependents. Before Brexit, EU migrants had a high employment rate and tended not to bring many dependents. However, post-Brexit, non-EU migrants have a higher ratio of dependents to workers, and the number of students coming in exceeds the number of workers by about 100,000, with many graduate students bringing dependents as well. This has alarmed the government, resulting in a 5-point plan to curb legal migration. The plan includes increasing the minimum wage, expanding the use of technology in the labor market, introducing a new points-based immigration system, increasing resources for border control, and implementing stricter rules for student visas. The government aims to reduce the overall number of migrants coming to the UK and ensure that those who do come contribute economically.
New UK immigration policy targets non-EU workers and family dependents: UK's new immigration policy increases salary threshold for work visas and limits family dependents, potentially decreasing attraction for foreign workers in care and hospitality industries
The UK government's new immigration policy aims to reduce the number of non-EU workers and their family dependents, particularly in sectors like care and hospitality, by increasing the salary threshold for work visas and limiting family dependents. This could potentially decrease the attraction of the UK for foreign workers and impact industries heavily reliant on them. The government hopes that the new rules will still make the UK an attractive place to work, while encouraging more UK-born individuals to fill these roles. However, it remains to be seen whether these changes will be effective and if they will deter or discourage potential workers.
UK's reliance on overseas recruitment in healthcare and social care: Despite efforts, domestic labor shortages and unattractiveness of jobs in healthcare and social care lead to UK's heavy reliance on overseas recruitment. A workforce plan and utilizing LinkedIn for passive candidates are suggested solutions.
The UK's reliance on overseas recruitment in sectors like healthcare and social care is not a deliberate choice, but rather a result of domestic labor shortages and the unattractiveness of these jobs. Employers in these industries have struggled to recruit locally despite efforts to address skill shortages. The government's belief that increasing work visas won't trigger a crisis in sectors like gas is also questionable, given the clear dangers. The speaker emphasized the need for a workforce plan to address shortages in various occupations. Additionally, LinkedIn was highlighted as a valuable resource for finding professionals who aren't actively looking for new jobs but might be open to the right opportunity.
Over a million job vacancies and inactive population in the UK: The UK faces a challenge with over a million job vacancies and over a million economically inactive people. The government aims to reduce disincentives to work and encourage economic activity, but potential labor shortages from reduced immigration could complicate matters.
The UK is facing a significant challenge with over a million job vacancies and over a million people who are economically inactive and not available for work. This situation is due to various reasons, including ill health and high marginal tax rates that discourage people from working. The government is trying to address these issues by reducing disincentives to work and encouraging economic activity among the inactive population. However, the sudden implementation of policies to reduce immigration could make it difficult for employers to fill the job vacancies, leading to a tough situation for them. In the long term, if the economically inactive population could be encouraged to join the workforce, it could potentially offset the impact of reducing immigration numbers. But the success of these efforts and their impact on the current labor market situation remain to be seen.
Addressing the labor market gap: The UK aims to increase employment rate to 80% to reduce the need for economic migrants, but filling vacated jobs with economically inactive population might not be straightforward due to age and skill mismatches.
The UK's employment rate is relatively high, but there are still over a million economically inactive people of working age. This group includes those bringing up children, young people not in education or training (NEET), and older workers who have left the labor force. Employers struggle to entice older workers back into the workforce due to age discrimination and reluctance to keep them on long-term. Young people and older workers may not be a direct match for the jobs vacated by migrants. The government and employers have tried to address this issue by investing in training and recruitment locally, but it has proven difficult. In the long term, increasing the employment rate to 80% could reduce the need for economic migrants. However, it's not guaranteed that the jobs vacated by migrants would be filled by the economically inactive population, leading to a mismatch in the labor market.
Historically, migration has enriched the UK economy: Cutting off migration entirely could limit labor supply, leading to higher wages, inflation, and slower growth, impacting the UK's long-term economic prospects.
While reducing migration numbers and retraining domestic workers could potentially even out the economy over time, it may be challenging and painful in the short term. Economists argue that migration, especially from the EU, has historically enriched the UK economy by bringing in skilled workers, entrepreneurs, and taxpayers. Thus, cutting off migration entirely for work purposes may not be beneficial, as it would limit the supply of labor, potentially leading to higher wages, inflation, and slower economic growth. Rapid reductions in migration could also negatively impact the UK's long-term economic prospects, as replacing EU workers with domestic ones might be difficult due to labor market shortages. Therefore, it's crucial to approach migration policy with a thoughtful, gradual approach.
Celebrating Life's Special Moments with These Businesses: Listen to the Stories of Our Times podcast for newsroom insights, send heartfelt gifts from 1800flowers.com, and shop ethical fashion from Quince.
There are various ways to bring joy and celebration to life's special moments, and these businesses are dedicated to making it more accessible and meaningful. The Stories of Our Times podcast, brought to subscribers of The Times and The Sunday Times, provides insight into the newsroom and the latest episodes of which can be found on Apple Podcasts. Meanwhile, 1800flowers.com offers gifts made with love for various occasions, ensuring that every step of the process is heartfelt. Lastly, Quince offers high-quality fashion essentials at affordable prices, partnering with factories that prioritize ethical and responsible manufacturing. Additionally, the podcast is made possible by the team behind it, including Luke Jones, David Smith, James Shields, Fiona Leech, and Tom Burchill. And for those interested in learning more about 1800flowers.com, they can visit 1800flowers.com/acast. For those looking for luxury fashion at affordable prices, Quince is the go-to with free shipping and 365-day returns at quince.com/style.
