During 2020, an estimated 11.6 million jobs were put on furlough as a result of COVID-19. Data compiled by UK cloud payroll specialists, Staffology, found how the pandemic affected salaries for various industries around the nation.
Reviewing data of the average weekly pay by industries in the UK such as hospitality, transport, retail, and the arts, Staffology found that the most impacted industry for shrinking salaries was accommodation and food services (hospitality), taking a -3.59% hit to salary between 2019 and 2020, shifting the salary from £260 per week to £251 per week. The industry still hasn’t recovered entirely, with the change from 2020 to 2021 being only +0.4%, resulting in an extra £1 to payslips every week.
The industry that noticed a surge in salaries during the pandemic was manufacturing, which includes textiles, leather and clothing, seeing a +4.66% rise from 2019 to 2020, going from £430 per week to £451 per week. The Office of National Statistics stated that online sales were reaching higher than usual levels over the course of the pandemic, with online purchases representing 28.5% of sales in October, compared to 20.1% in February.
Since 2019, the highest paid industry has consistently been financial and insurance, sitting at an average weekly salary of £1,463 in 2021, 13.5% more than it was in 2019.
5 lowest earning industries in 2021:
- Accommodation and Food Service Activities – £1,008 p/month
- Retail Trade and Repairs – £1,416 p/month
- Agriculture, Forestry and Fishing – £1,652 p/month
- Other Service Activities – £1,736 p/month
- Manufacturing – Textiles, Leather and Clothing – £1,764 p/month
5 highest earning industries in 2021:
- Financial & Insurance Activities – £5,852 p/month
- Mining and Quarrying – £4,844 p/month
- Information and Communication – £3,904 p/month
- Manufacturing – Chemicals and Man-Made Fibres – £3,536 p/month
- Professional, Scientific & Technical Activities – £3,348 p/month
Caine Bird, expert technical payroll writer said: “COVID-19 has had a significant impact on the world in multiple respects, however our analysis of the most recent government data highlights how it impacted salaries on a sliding scale. Despite reduced salaries over the past year, the industries that were hit the hardest by the pandemic – the arts, retail, and hospitality – have all experienced a growth in their weekly salaries during 2021, which is great to see. In fact, the arts were the second fastest growing industry in salary from 2020 to 2021, increasing by 11%.”
Comparing the average weekly salaries of the last ten years and 2021 alone, the industries that have grown the most are education, financial & insurance activities, and administrative and support service activities. Conversely, the three industries with the lowest growth rates are mining and quarrying, accommodation and food service activities, and transport and storage, all having grown less than 7% across the decade.
UserTesting Highlights How Inflation Is Squeezing Indian Consumers, 75 Percent Join The Gig Economy To Meet Increased Cost Of Living
- On an average, 3 out of 5 Indians are witnessing the highest impact of inflation on entertainment and petrol expenditures
- In order to save money, 65 percent of Indians are now buying their necessary products from generic brands
- View consumer responses to the impact of inflation
India, July 13, 2022: UserTesting (NYSE: USER), a leader in video-based human insight, conducted a survey to understand the effects of the rising inflation on Indians’ spending habits and personal finances. As per the survey findings, over 95 percent of Indians reported that growing inflation is directly impacting their daily and monthly expenditure.
A host of cost pressures such as rising commodity prices, global supply disruptions, and more has been translated to end consumers in the form of elevated prices for goods and services across the board. Therefore, to meet basic needs, Indians are cutting back on their everyday expenses to meet their basic needs. About 60 percent of Indian respondents indicated that they are cutting back on entertainment and leisure activities such as movies, eating out, staycations, etc. Unsurprisingly, the respondents also mentioned minimizing personal car travel and opting for public transport to reduce their expenditure on petrol.
Mounting prices of essential commodities
Indians are facing the brunt of inflation majorly on petrol prices, as mentioned by 100 percent of the respondents during the survey. With essential grocery items such as bread witnessing a sharp rise in prices, 90 percent of the respondents have reported that it is becoming a burden to keep up with the inflation storm. Adding to the trouble, some respondents mentioned not having received any salary appraisals in the past year, leading to a reduction in personal savings for many.
Gig economy takes center stage amidst rising inflation
As inflation heats up, former motivations for side hustles, such as paying off debt and saving, have been replaced by a more pressing need: making ends meet. According to the survey, 75 percent of Indian respondents revealed that they are resorting to secondary sources of income to keep up with the increased cost of living. The popular options that were mentioned included freelancing and trading among other side gigs.
Indians replace their go-to shops: from big brands to local brands
Interestingly, the survey found that on average, 65 percent of Indians are buying from generic/local brands instead of name brands so as to save money. Stating that most generic brands are now offering the same quality of a product at a cheaper price, more than half of the Indians have shifted their focus on local brands, especially for purchases such as clothes and grocery items that are now being bought from local kirana shops.
UserTesting (NYSE: USER) has fundamentally changed the way organizations get insights from customers with fast, opt-in feedback and experience capture technology. The UserTesting® Human Insight Platform taps into our global network of real people and generates video-based recorded experiences, so anyone in an organization can directly ask questions, hear what users say, see what they mean, and understand what it’s actually like to be a customer. Unlike approaches that track user behavior and then try to infer what that behavior means, UserTesting reduces guesswork and brings customer experience data to life with human insight. UserTesting has approximately 2,500 customers, including more than half of the world’s top 100 most valuable brands according to Forbes. UserTesting is headquartered in San Francisco, California. To learn more, visit www.usertesting.com.
Nikola to Participate in Upcoming Investor Conferences
Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy infrastructure solutions, today announced its participation in the following investor conferences:
Kim Brady, CFO, will participate in a fireside chat at the Evercore ISI Global Clean Energy & Transition Technologies Summit on June 15, 2022, at 2 p.m. ET
- A webcast replay of the presentation will be accessible on the Investor section of the Nikola website https://nikolamotor.com/investors/news?active=events.
- Kim Brady, CFO, will participate in a fireside chat at the Deutsche Bank Global Auto Industry Conference on June 16, 2022, at 10:25 a.m. ET
- A live audio webcast and replay of the presentation will be accessible on the Investors section of the Nikola website https://nikolamotor.com/investors/news?active=events.
Nikola Corporation is globally transforming the transportation industry. As a designer and manufacturer of zero-emission battery-electric and hydrogen-electric vehicles, electric vehicle drivetrains, vehicle components, energy storage systems, and hydrogen station infrastructure, Nikola is driven to revolutionize the economic and environmental impact of commerce as we know it today. Founded in 2015, Nikola Corporation is headquartered in Phoenix, Arizona. For more information, visit http://www.nikolamotor.com or Twitter @nikolamotor.
SOURCE Nikola Corporation
2022 Zhejiang (HUZHOU) Export Online Fair (Europe-Textiles)
China Council for the Promotion of International Trade Huzhou Committee and the China Chamber of International Commerce Huzhou Chamber of Commerce are organizing the online fair-2022 ZHEJIANG (HUZHOU) EXPORT ONLINE FAIR (EUROPE-TEXTILES) will be held online continually for 4 days from the 13th of June till the 17th of June 2022.
Facing the international epidemic situation, in order to promote the trade between Europe and Huzhou, Zhejiang in China, the 2022 ZHEJIANG (HUZHOU) EXPORT ONLINE FAIR (EUROPE-TEXTILES) will be held online.
This online fair is an international platform to help European buyers meet with professional Huzhou textiles enterprises. With abundant experience in holding expos, the Huzhou fair created the original mode of “internet + expo” in China’s exhibition field while is still keeping improving and upgrading it to a higher level. The aim of the exhibition is to provide a comprehensive overview of the global market and at the same time to offer the best possible stage for the high proportion of strong Chinese suppliers and the best European buyers.
At the exhibition there will be at least 40 quality exhibitors, the B2B Huzhou Expo will be completely free for European buyers. The exhibition will be held on the new online platform for the fair https://efair.zjseek.com/web/#/exhibition
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