Connect with us

Hi, what are you looking for?

Editor’s Pick

Strikes take their toll on multiple sectors

Six per cent of businesses were affected by industrial action last month as disputes over pay, jobs and working conditions led to worker protests.

Of businesses affected by strikes, nearly a third said their workforces had not been able to perform their roles as a result, while another 20 per cent said staff had been forced to work from a different location. Healthcare and social work were affected most, comprising about 10 per cent of businesses hit by industrial action last month.

The proportion of businesses reporting strikes was roughly the same as in June, according to figures from the Office for National Statistics.

Thousands of workers across several sectors have taken or are considering taking strike action over pay offers that fall short of inflation, which hit 10.1 per cent in July and is expected to rise further, with widespread industrial action billed as the biggest in Britain since the 1980s.

Railway unions are in dispute with the government and railway companies over pay, job cuts and changes to the terms and conditions of their work. Strikes in recent weeks left a fifth of trains running on some days, with no service in parts of the country. No further strike dates have been set but it is likely there will be more.

Barristers are going on strike indefinitely from September 5 in a row with the government over pay, conditions and legal aid funding. Four days of postal strikes that begin today are expected to deliver a £100 million blow to Royal Mail, which is in a dispute with the Communication Workers’ Union over pay and modernisation.

In terms of nationwide disruption to both businesses and consumers, the eight-day strike at the Port of Felixstowe in Suffolk — Britain’s biggest gateway to global trade — could disrupt supplies to supermarkets and exports until Christmas. Dockworkers are demanding a pay rise because retail prices inflation is at 12 per cent and in recognition of the work they did to keep the economy going during the pandemic, when they accepted below-inflation pay settlements.

Maersk, the world’s largest shipping line, is cancelling calls into the port and is diverting traffic to Antwerp, Le Havre and London Gateway on the Thames.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...

News

Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...

News

Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...

News

REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...

News

Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.