The construction industry is facing a severe shortage of qualified professionals, despite a decline in demand. Companies are implementing training programs and forming partnerships with colleges to address the workforce gap and ensure sustainable growth.
Around 50 workers from the Elgin Franklin and North Alwyn platforms in the North Sea have launched a series of strikes after NeoNext+ refused to increase wages by more than 3%. The Unite union supports the employees' demands for better working conditions and pay.
A member of the Bank of England's Monetary Policy Committee stated that the bank will likely soon stop facing a trade-off between slowing growth and inflation. Economic indicators are weakening, inflation and wage growth are below expectations, and unemployment is higher than forecasted.