UK employment hit and inflation eats into wages
February 15, 2022, 10:52 am

UK employment hit and inflation eats into wages

City of London in England/Pixabay

The Euronews reported, citing Reuters, official data showed that the total number of people in work in Britain shrank in the last three months of 2021, when the Omicron COVID-19 wave swept Europe, and workers in Britain saw their earnings shrink when adjusted for inflation.

Employment was down by 38,000 in the October-to-December period, the biggest fall since the three months to February last year when Britain under was under a tough coronavirus lockdown.

The Office for National Statistics said regular earnings fell by 0.8% in real terms using statisticians’ preferred CPIH inflation measure in the three months to December.

That was the first time regular earnings shrank when adjusted for the CPIH measure of inflation since July 2020 although they have recently fallen based on the more widely followed CPI inflation measure.

UK economy grows bigger than before pandemic in November

Britain’s unemployment rate for the three months to the end of December held at 4.1%, as expected by most economists polled by Reuters.

The number of staff on businesses’ payrolls in January rose by 108,000, slowing from December’s increase of 131,000 which was revised down from an original reading of 184,000.

Source: euronews

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”