China is now the world’s second-largest services producer after the US. It overtook Japan, Germany, the UK and France in less than a decade. However, the US’s services output is still more than double that of China.
Nearly two in five adults in Great Britain perceive David Cameron as more competent than Jeremy Corbyn, opposition Labour Leader. The share rises to more than half of the over-60s. But Corbyn is seen as more trustworthy, especially among young people.
It’s about time that the Bureau of Labor Statistics knew more about the 20 million Americans of prime working age who are outside the labour force and do not want a job now. Here is why.
The US labour force participation rate has been shrinking since it peaked in the late 1990s and is now back to levels seen in the 1980s. Suggested reasons for the fall include an aging population, the rise of discouraged workers, young people spending more time in education, changes in the racial make-up of the society, potential employees who lack the right skills, statistical methods, and an unfriendly working environment for mothers. Read more
The US ranks last in the OECD countries for length of parental leave. With no paid maternity leave and 12 weeks of employment- protected leave for mothers, it’s far behind the over 150 weeks of combined paid and protected leave in Germany and France. Read more
About two in three jobs in hospitality services and more than half in retail were paid below the so-called living wage in 2014 in the UK. The share drops to less than 10 per cent in IT, public administration and finance.
Life is better in twos, at least according to the latest Eurostat results on life satisfaction. Couples with children are on average the most satisfied with life, but even if couples don’t have children they are likely to be better off than people who are on their own.
Six of the 189 economies for which the IMF produces forecasts are now expected to contract in 2016. Only a few months ago, four were set to expand next year. Venezuela and Belarus are now expected to contract even more
About half of the merchandise exports of the 12 Trans-Pacific Partnership go to other TTP countries. The share is higher for Mexico and Canada because of their strong trade links with the US, but it is below one-third for Australia, Japan, Singapore and Chile. Read more
Participation in the labour force in G7 countries has risen among those aged 55 and over but fallen for younger people since the start of the financial crisis. For those in their thirties, participation has fallen for men and risen for women. Read more
The US dominates the export of royalties and fees, the charges for the use of proprietary rights (such as trademarks and copyrights). The UK was the second-largest exporter in the 1990s, but fell to sixth by 2013. China only accounts for 0.3% of the global total.
Since the start of the crisis in 2007 the gender gap in labour force participation has narrowed across most OECD countries. Spain has seen the strongest convergence. In 2007, 83 per cent of men were in the labour force versus 63 per cent of women, a gap of 20 percentage points. In 2014, the gap was reduced to 10 percentage points.
With the success of Prosecco, Italy is now the world leader in exports of sparkling wine, with export volumes nearly 50 per cent higher than from Spain and France. Italy surpassed France in 2009 and Spain the following year.
Health spending per capita has risen faster than economic growth in all OECD countries over the past 20 years. South Korea and Japan show the largest difference between the two measures, followed by the UK.
The Germans are the heaviest per-capita beer consumers among large economies. They drink about four times the amount imbibed by the French and roughly 50 per cent more than the British and the Americans.
Levels of household disposable income per capita are now similar or above pre-crisis levels in most countries. They are still below their 2007 level in Spain, but are improving. In Italy they remain at their lowest level.
The population living in contracting economies is expected to rise to over 7 per cent of the global total this year, from 1.3 per cent in 2010, the highest proportion in 5 years. While the global economy is set to grow faster in 2015 than in the previous year, the proportion of population in contracting economies is expected to increase by 1.6 percentage points.
Forget the mid-life crisis of the 40s, the peak age of a business person is fifty-something, at least according to an analysis of the Capital IQ database of global companies. Among the nearly 10 thousand Chief Executive Officers (CEO) of companies with a market capitalization of more than £150 million for which age information is available*, nearly half are in their fifties.
The UK is home to nearly two-thirds of bankers earning more than €1m in the EU, according to the European Banking Association. High-earners in the UK make up a significantly higher proportion of the total bankers.
Longevity aside, how do the two monarchs and their effects on the country they ruled compare? Read more
Asian countries lead the league for number of admissions to Oxford University from non-UK applicants. Singapore has the highest admission rate, followed by China and Hong Kong.