LMI Bulletin 13/04/2018 (Issue 363)
Produced by the LMI Team at Education Development Trust
LMI Bulletin 13/04/2018 (Issue 363)
Job Gains and Losses
Carpetright is closing 92 stores across the UK with the loss of 300 jobs. The stores affected in the North East are South Shields and Sunderland - Castletown.
When businesses are in the news and announcing jobs, we publish these stories. However, there are many more business stories about businesses making investments, being awarded contracts, winning quality awards or having made recent appointments etc, which we do not publish. These stories however, may be helpful for anyone trying to get inspiration for the many different businesses in the region and who is on the up. Publications to look at include:
- Tees Business https://teesbusiness.co.uk/
- Arch of Northumberland https://www.archnorthumberland.co.uk/arch-business/business-news
- Business Durham http://www.businessdurham.co.uk/news-events-county-durham/latest-news
- Bdaily https://bdaily.co.uk/
Age UK Newcastle
The Newcastle branch of Age UK went into administration last week with 30-40 employees losing their jobs. Local Age UK branches are part of a partnership network of the national Age UK charity, but operate financially independently. One of the Age UK services is advice for older people looking for work. Almost 32% of the workforce in the North East are aged 50 plus (Annual Population Survey Oct 2016-Sep2017). One of DWP's programmes is its help for employers retaining or taking on older workers.
Reform, the public sector think tank, has turned its attention to apprenticeships. It is critical of how apprenticeships are going, with the focus moving towards older employees doing higher level apprenticeships -
...which suggests that more experienced and older workers are increasingly becoming the focus of the apprenticeship programme, at the expense of less experienced and younger employees
They are also concerned that the quality has diminished with (particularly) customer service jobs in food and hospitality being offered as apprenticeships
Such training courses do not meet the historical or international definition of an apprenticeship because they typically offer minimal training, represent low-wage jobs and do not constitute skilled occupations.
They say that
Almost 40 per cent of the ‘apprenticeship standards’ approved by the Government since 2012 fail to reach the international or historical definition of an apprenticeship.
Graduate loan repayment threshold
With effect from 6th April, the income at which graduates need to start repaying their student loan, has been increased from £21,000 to incomes over £25,000. Typical monthly repayments are now:
- £25,000 per year repays £0 per month instead of £30
- £27,000 per year repays £15 per month instead of £45
- £30,000 per year repays £37 per month instead of £67
- £33,000 per year repays £60 per month instead of £90
- £35,000 per year repays £75 per month instead of £105
- £40,000 per year repays £112 per month instead of £142
More information on student finance is available here www.gov.uk/student-finance
On the subject of higher education, HEFCE, the higher education funding council closed at the end of March. The Office for Students has taken on much of its role with a focus on ensuring higher education provides students with the opportunity for a good quality, value for money education. The site has an area for students including results of quality assessments and the responsibilities of HEI's to their students.