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Brexit Latest: Slowing Immigration from European Union Already Hurting Labour Market, Say Recruiters
As vacancies continued to rise "markedly" and recruiters flagged a shortage of suitable applicants for more than 60 different positions, it seems the UK jobs market is already beginning to feel the negative impact of Brexit. Shortages of European Union labor are in growing evidence in sectors ranging from nursing to IT and accountancy. The latest Markit/REC Report on Jobs shows the availability of permanent and temporary candidates fell at the fastest pace in 16 months in April. Find out more about Brexit's influence on the labor market.
Germany Outpaces UK, U.S. and France with 0.6% Quarterly Growth
Germany's economy grew at the fastest rate in more than a year in the first quarter, the country's statistics office said today, and expanded at a faster pace than both the U.S. and the United Kingdom. The quarter-on-quarter comparison shows that positive contributions came from both domestic and foreign demand. Read about Germany's economic health.
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Singapore a Talent Hub for Japanese Companies
The acute skills shortage in in Singapore has prompted some companies to groom talent in technology and/or deep skills through on-the-job training, student internships or management trainee programs. Some of the companies developing local talent include Panasonic, NEC and enterprise resource planning firm Works Applications from Japan. Read the article for more information on Singapore's talent shortage.
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E2 Visa Scheme Enabling Israelis Easier U.S. Visa Access May Be Introduced by October 2017
According to the U.S. Department of State, the coveted U.S. E2 visa could be available to Israelis by October 2017. Currently, Israelis have a fewer number of U.S. visa options than nationals of many other countries. Though the E1 Treaty Trader visa is available for businesses that engage in substantial trade between the U.S. and Israel, fewer businesses tend to be able to qualify for the E1 visa compared to the E2 visa. There is also the L1 visa which can be used to transfer employees that have worked for the same business outside the U.S. for one year in the last three years. For businessmen investing $500,000 or more, there is the EB5 immigrant investor green card visa scheme. Learn more about the E2 Visa and Israeli workers.
Government Affairs Community Update: Tax Reform, AHCA, France’s Election Results
Worldwide ERC®’s latest update includes tax reform and AHCA activity in the U.S. administration's agenda, as well as a reflection on the presidential election in France. Navigate to the Government Affairs Community Update.
Canada Now Has More Seniors Than Children, Census Reveals
The changing face of the Canadian population has a significant impact on taxes and government. More and more, Canadians are leaving the work force, drawing a pension, and using more health care; concurrently, a smaller proportion of people are working and paying income tax. “Population aging will have impacts everywhere – public transportation, housing needs. As we’re growing older as a society, healthcare, institutions will need to be adjusted,” said Laurent Martel, director of the demography division at Statistics Canada. It has implications for the labor force too, Martel noted. “When you are thinking about renewal of the workforce, knowledge transfer issues, lots of challenges there,” he said. Read more about Canada’s changing population and the impact on the workforce.
Brazil: Congress Approves New Immigration Law
In mid-April, Brazil's congress approved a new immigration law giving the same rights to foreign residents as to native-born Brazilians. Known as the “Migration Law,” it replaces highly restrictive laws covering foreigners implemented during Brazil's military regime between 1964 and 1985. Under that legislation, immigrants were viewed as a potential threat to national security. Under the new law, immigrants have the same rights as Brazilians including job access, social security and property ownership; and can join labor unions and participate in strikes or protests. Find out more about Brazil's immigration law.
Bilateral or Multilateral: Which Trade Partnerships Work Best?
When countries are considering trade partnerships, which ones serve them most effectively? Bilateral trade agreements come with some problems, says Gary Clyde Hufbauer, senior fellow at the Peterson Institute for International Economics, who notes that bilateral agreements take a fair amount of time to develop. But Wharton management professor Mauro Guillen says that multilateral agreements “have become unwieldy and large,” so bilateral plans can be viewed as more manageable for negotiators and companies that rely on them to gain market access. Understand the types of global trade partnerships.
Attracting Global Talent to Spur Growth in Emerging Markets
Emerging markets present an attractive potential customer base for multinational companies, and over the last few decades, globalization has prompted many organizations to developing markets in search of new clients and competitive advantage. But finding the right talent, skills and competencies locally is a challenge, so foreign employees are deployed to work alongside local nationals, bringing the skills and experience that can help build capabilities locally. Check out the full article about attracting global talent.
Workforce Representation Is About Quotas, Not Growth: It's Time to Embrace Diversity with Inclusion
Even well-intentioned companies hoping to increase the diversity of their workforce can make the mistake of thinking about optics and workforce representation, and possibly achieving diversity but not inclusion. Which is why workforce representation, as it is usually defined, solves for quotas, not growth – it solves for diversity but rarely solves for inclusion. Read on about the difference between diversity and inclusion, and how to achieve both.
The New Ways to Win in Emerging Markets
Most leaders of emerging economies believe they must take specific steps to catch up with their industrialized counterparts. As the U.S., the U.K., and Germany did 150 years ago, and Japan and South Korea did after World War II, today’s emerging markets laid the foundation for growth by developing a manufacturing sector — which itself led to the growth of cities, transportation technology, social institutions, and the service sector. But the world is so competitive and complex today that these economies need to be far more proactive in managing the next wave of growth, bringing broad areas along simultaneously and making tangible improvements in quality of life. Read on about what spells success in emerging markets.