tv Talking Business BBC News June 25, 2022 3:30pm-4:01pm BST
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lauren laverne has pulled out of the bbc�*s glastonbury coverage following the death of her mother. the bbc 6 music presenter shared the news on her instagram account. paying tribute to her mother celia, lauren laverne wrote that she was the "kindest, most compassionate and most tenacious person i have ever met". now it's time for a look at the weather with elizabeth rizzini. hello there. an east west split across the uk as we head through the rest of the weekend. it's blustery throughout, really rather unsettled with scattered showers towards western scotland, much of northern ireland too, and wales. and there'll also be some showers towards the south—west of england, some bright, some sunny spells in between. watch out for some thunder and some lightning, potentially the best of the sunshine, eastern scotland and also central southern england, eastern england to see temperatures reach 21 or 22 degrees celsius. now, as we head through this evening and overnight, clear skies for many out towards the east. temperatures will be lowest here,
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but milder underneath that cloud. showery outbreaks of rain starting to approach western scotland and western wales. by the time we get to the end of the night and our weather front starts to move further eastwards as we head throughout sunday. so some rain arriving for central southern scotland, also towards cornwall as we head towards the end of the day, it's very windy tomorrow. gusts of wind towards irish sea coast of around a0 to 50 miles an hour. hello, this is bbc news. the headlines... borisjohnson says policy is more important than personality as he faces renewed calls to quit from conservative backbenchers after the party lost two by—elections. police in norway say they're treating a shooting at a gay nightclub as an act of extreme islamist terrorism. abortion clinics start to close in the us after a supreme court ruling removed american women's constitutional right to abortion.
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more calls from the taliban for international support to deal with the aftermath of the earthquake that's killed more than 1,000 people. now on bbc news, talking business. welcome to talking business. let's take a look at what has on the show. a labour shortage and soaring prices as workers across the world face a squeeze on living standards, is it the best opportunity in decades to seek a pay rise? with workers across the planet from the uk, us, south korea, brazil, are demanding more from their employers and it this global trade union leader will tell me why. why they deserve to get it.
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as politicians ring the alarm bells have a rising inflation and the dangers of wages rising to keep up, the bottom the world's biggest employment agency will tell me how businesses can find the workers they need while still making a profit. also, the missing work of mystery has hit the airline industry more than most, so the big boss of the international air transport association joins me to tell me why governments need to do more to stop it having an outsized impact on the global economy. wherever you arejoining me wherever you are joining me from once again a big hello and one welcome to the show. in every corner
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of the planet, prices are rising, it is hitting everything from basic foodstuffs to energy bills, rent and cars. there are two big causes of this inflation, the disruption caused by the coronavirus pandemic and also the devastating war in ukraine. 0ne and also the devastating war in ukraine. one major difficulty for many companies that stem from the pandemic is a shortage of labour. with many workers seeking higher wages to cover those rising bills, has there never been a better chance of them getting a rise? in the world's biggest economy, the us, 11.4 millionjobs are world's biggest economy, the us, 11.4 million jobs are opening, world's biggest economy, the us, 11.4 millionjobs are opening, twice as many as the 6 million people who are deemed unemployed. in the 19 countries of the eurozone, the unemployment rate is at a record low of 6.2%, just over 11 million people without a job. according to the imf, labour shortages, which were high pre—pandemic, have recently reached
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record highs. a lot of it is because millions of people left the workforce during covid and haven't returned, but as demand for goods and services have rebounded, companies are struggling to keep up leading prices to rise all round world. take a look at this. it shows how prices are rising in the g7 group of advanced economies with the most prolific, germany, the uk, us, and that has consequences.- and that has consequences. soaring rices, and that has consequences. soaring prices. which _ and that has consequences. soaring prices, which had _ and that has consequences. soaring prices, which had already _ and that has consequences. soaring prices, which had already started i and that has consequences. soaring prices, which had already started in | prices, which had already started in the wake of the pandemic, is fuelling inflation for everyone. that is raising consumption and trade the increasing growth, which is why we have brought global growth down and we have revised inflation up. down and we have revised inflation u n . ., down and we have revised inflation u -. ., ., down and we have revised inflation up. from railworkers in the uk to south korean _ up. from railworkers in the uk to south korean truck _ up. from railworkers in the uk to south korean truck drivers, - up. from railworkers in the uk to| south korean truck drivers, french aviation staff and food production workers in the us, there is a sense
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that pressure on living standards means that many workers around the world are taking strike action as they demand higher wages to keep up with the higher cost of living. look, this is the poster we're sticking up— look, this is the poster we're stickin: u; , ., look, this is the poster we're stickin: u; , , ., ., sticking up the employees today and demonstrating _ sticking up the employees today and demonstrating against _ sticking up the employees today and demonstrating against a _ sticking up the employees today and demonstrating against a high - sticking up the employees today and demonstrating against a high cost i sticking up the employees today and demonstrating against a high cost of living as we have written here, we have difficulty in feeding ourselves or affording accommodation and getting to work. or affording accommodation and getting to work-— or affording accommodation and getting to work. they are looking for another _ getting to work. they are looking for another 1096, _ getting to work. they are looking for another 1096, the _ getting to work. they are looking for another 1096, the office - getting to work. they are looking l for another 1096, the office coming for another 10%, the office coming to them _ for another 10%, the office coming to them have been proper real term pay cuts _ to them have been proper real term pay cuts. we are looking for something that brings back up the cost of— something that brings back up the cost of living and the wages to a proper— cost of living and the wages to a proper inflation protected right. in korea, truckers have to pay more than _ korea, truckers have to pay more than half— korea, truckers have to pay more than half of— korea, truckers have to pay more than half of their— korea, truckers have to pay more than half of their income - korea, truckers have to pay more than half of their income for- korea, truckers have to pay more than half of their income for gas. korea, truckers have to pay morel than half of their income for gas in order_ than half of their income for gas in order to _ than half of their income for gas in order to continue _ than half of their income for gas in order to continue their— than half of their income for gas in order to continue their current - order to continue their current jobs — order to continue their current jobs what— order to continue their current jobs what they _ order to continue their current jobs. what they get _ order to continue their current jobs. what they get just - order to continue their current jobs. what they get just won't| jobs. what they get just won't guarantee _ jobs. what they get just won't guarantee their— jobs. what they get just won't guarantee their livelihoods. . jobs. what they get just won't i guarantee their livelihoods. but hi . her guarantee their livelihoods. higher wages do not come guarantee their livelihoods.- higher wages do not come without risk. they are a threat to businesses and mean higher costs, and as we know, if a company's 0scar
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map, that least to higher prices. that could mean customers buying less goods and services. if businesses do not put up prices, they risk making a loss and perhaps closing down. something which could lead tojob closing down. something which could lead to job losses and economic growth following. that is why policymakers are so concerned. indie policymakers are so concerned. we have to policymakers are so concerned. - have to restore price stability, we really do, everything, it is the bedrock of the economy, if you don't have it, the economy will not work the way to supposed to, it will not work for people, wages will be eaten up. work for people, wages will be eaten u . _ ., ., . ., , work for people, wages will be eaten u l , ., ., . ., , ., . up. inflation can be matched in -a off up. inflation can be matched in payoff is. _ up. inflation can be matched in payoff is. that _ up. inflation can be matched in payoff is, that is _ up. inflation can be matched in payoff is, that is not _ up. inflation can be matched in| payoff is, that is not something that will— payoff is, that is not something that will be seen across the private—sector as well as the public sector, _ private—sector as well as the public sector, we — private—sector as well as the public sector, we cannot get into a world where _ sector, we cannot get into a world where we — sector, we cannot get into a world where we are chasing inflation expectations in that way because that is— expectations in that way because that is the — expectations in that way because that is the surest way i can think of to— that is the surest way i can think of to bake — that is the surest way i can think of to bake in a repeat of the 19705, the reaiity— of to bake in a repeat of the 19705, the reality is that we are trying to manage _ the reality is that we are trying to manage the inflation difficulties that this economy and the wider we5t that this economy and the wider west is facing. _ that this economy and the wider west is facing, becau5e that this economy and the wider west is facing, because this is an issue
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in europe — is facing, because this is an issue in europe and america as well as here, _ in europe and america as well as here, because of the impact of covid and of— here, because of the impact of covid and of what — here, because of the impact of covid and of what ru55ia here, because of the impact of covid and of what russia is doing in ukraine, _ and of what russia is doing in ukraine, it _ and of what russia is doing in ukraine, it is not a problem unique to the _ ukraine, it is not a problem unique to the uk — ukraine, it is not a problem unique to the uk. but ukraine, it is not a problem unique to the uk. �* ukraine, it is not a problem unique tothe uk. �* , to the uk. but given companies around the _ to the uk. but given companies around the world _ to the uk. but given companies around the world are _ to the uk. but given companies around the world are strugglingj to the uk. but given companies i around the world are struggling to struggle to find enough staff, is it inevitable that wages will go up just so they can keep hold of the workers they have? does all of this mean that employees are any stronger position to negotiate a for pay rises than they have been for years? let's find out, i caught up with the head of the world's largest trade union body, the international trade union confederation. a pleasure having you, thank you. does this current shortage, we are seeing many workers, does it give your members a new—found confidence to push for pay rises are a better deal? new-found confidence to push for pay rises are a better deal?— rises are a better deal? certainly desperation _ rises are a better deal? certainly desperation is _ rises are a better deal? certainly desperation is pushing _ rises are a better deal? certainly desperation is pushing people i rises are a better deal? certainly desperation is pushing people to| desperation is pushing people to actually get out on the street and organise in the case of workers like
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starbucks and amazon in the us, and you have seen the summer of discontent as it has been characterised, sweeping across europe. this is because labour income share has declined over 40 years, despite the world being three orfour times richer than gdp. wages have not kept pace with profit or activity, and even as i said in developed countries, while there has been some increase in some countries in the minimum wage, collective bargaining has simply not kept up and even then in many countries, the minimum wage has indeed remained at negative levels compared to the increase in wealth in the economy. so it is really about purchasing price pressure. people are feeling the pressure, families are worried. there has also been a string of high—profile moves to unionisation,
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particularly in the us, including starbucks, apple, horizon, but only 6.1% of us workers are unionised, and you will know this, the critics will say the truth is unions are a 19th—century idea that hold back growth to no 21st—century, which many developed economies have plenty of laws to protect workers' rights. if that was the case, why do people spend so much time trying to deny the reality is and rights of trade unionists? we see people in developed economies, in developing economies putting all of the barriers they can in place to unionisation, to collective bargaining, to minimum living wages, you know, everyday. we see companies fighting against their sad governments are listening to them for the promise of elusive foreign domestic investment or indeed
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whatever the economic magic might be of the day. the reality is people are unionising because they know it is the only way to get a better deal. they are feeling a confidence thatis deal. they are feeling a confidence that is born of desperation and despair because together they feel like they can change their circumstances. in like they can change their circumstances.— like they can change their circumstances. ,, ., ., ., circumstances. in the us, data from cornell university _ circumstances. in the us, data from cornell university shows _ circumstances. in the us, data from cornell university shows that - circumstances. in the us, data from cornell university shows that there l cornell university shows that there were 371 strikes last year, already been more than 200 dacia, that suggests it is a growing trend. is that something you think is happening in other countries? —— 200 this year. happening in other countries? -- 200 this ear. , , ., happening in other countries? -- 200 this ear. , ., �* ., this year. yes, if you don't look at workers not _ this year. yes, if you don't look at workers not having _ this year. yes, if you don't look at workers not having a _ this year. yes, if you don't look at workers not having a democracy i workers not having a democracy dividend from the growth in profits and productivity for almost 40 years in a macro sense, then why wouldn't people take to the streets? i think you can already see in the us,
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sweeping across europe now, the rallies in the uk belgium, italy, and if you look to the developing countries, you have got situation where they do not see a future for themselves that has secure jobs and just wages. so the only answer their is to fight. we will see discontent everywhere, and i think you have already seen it in south korea and places in latin america. indie already seen it in south korea and places in latin america.— places in latin america. we have rurowin places in latin america. we have growing warnings _ places in latin america. we have growing warnings of _ places in latin america. we have growing warnings of recession, l places in latin america. we have l growing warnings of recession, the world bank recently said, i quote, the war is expected to cause a major recession in europe and central asia. are you concerned that too much of an increase in wages could simply accelerate that, indeed perhaps make it worse? i simply accelerate that, indeed perhaps make it worse? i would argue the opposite- — perhaps make it worse? i would argue the opposite. recession _ perhaps make it worse? i would argue the opposite. recession comes - perhaps make it worse? i would argue the opposite. recession comes from l perhaps make it worse? i would argue the opposite. recession comes from a slump in demand and therefore in consumption. what happened with covid is economies closed down, now
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we have got the problem of supply chains that are still, if not blocked, then very slow, and countries are looking to look after themselves, particularly in terms of food and energy solutions. if you actually constrain wages, if you do not shape asperity, then you simply get recession because our economies will not be as robust, they will not be growing. will not be as robust, they will not be growing-— be growing. general secretary of international _ be growing. general secretary of international trade _ be growing. general secretary of international trade union - international trade union confederation, always a pleasure, thank you. i will check in with you soon. sojust how thank you. i will check in with you soon. so just how do you navigate that balance between the needs of companies and if the increasing demands of workers? netherlands —based employment agency put 2 million people in a job last year, i have been talking to its big boss. a pleasure having you on, thank you. let's start with this, your
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research, global survey of 35,000 workers, shows that the talent is in the driving seat, perhaps anyway that hasn't been before. what is it that hasn't been before. what is it that workers want from their employers? i that workers want from their employers?— that workers want from their emlo ers? ., ., ~ ,., employers? i would say workers are lookin: employers? i would say workers are looking first — employers? i would say workers are looking first of _ employers? i would say workers are looking first of all _ employers? i would say workers are looking first of all for _ employers? i would say workers are looking first of all for a _ employers? i would say workers are looking first of all for a happy i employers? i would say workers are looking first of all for a happy or- looking first of all for a happy or pleasant work environment, that consist of a number of things. their colleagues, the work day —— the work they are doing, the values of the company and whether they align with their own values, so happiness in their own values, so happiness in the workplace is really important. it is something that isn't on the top, flexibility, where you work, when you work, how you do your work. the research that we have done really shows that not everybody is getting what they are looking for, but 70-80% is getting what they are looking for, but 70—80% is looking for flexibility but only 40% is getting at. you can see there is a gap and if that makes people go on the lookout for other things. there is
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also compensation, it is important, it is to be market relevant but it is not number one.— it is to be market relevant but it is not number one. interesting that ou left is not number one. interesting that you left that _ is not number one. interesting that you left that to _ is not number one. interesting that you left that to last, _ is not number one. interesting that you left that to last, especially i is not number one. interesting that you left that to last, especially at l you left that to last, especially at a time of cost—of—living crisis. but a time of cost-of-living crisis. but if ou a time of cost-of-living crisis. but if you feel — a time of cost—of—living cri5i5. emit if you feel miserable at work, 10% higher pay will not make you feel better, it may make you feel better for a few days but not in the long term. , , ., ., for a few days but not in the long term. , ., ., . ., term. does soaring inflation change the importance _ term. does soaring inflation change the importance of _ term. does soaring inflation change the importance of pay _ term. does soaring inflation change the importance of pay and - term. does soaring inflation change the importance of pay and push i term. does soaring inflation change the importance of pay and push it i term. does soaring inflation change| the importance of pay and push it up the importance of pay and push it up the list of priorities?— the list of priorities? absolutely, workers will _ the list of priorities? absolutely, workers will look _ the list of priorities? absolutely, workers will look at _ the list of priorities? absolutely, workers will look at their - workers will look at their paycheque, especially the workers on the lower end of the scale, they go from paycheque to paycheque, but we should neverforget from paycheque to paycheque, but we should never forget the overall proposition that employers give to their employees is important. i am wondering. — their employees is important. i am wondering, does _ their employees is important. i am wondering, does the _ their employees is important. i am wondering, does the current conditions of this labour shortage
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and high inflation make for something of a goldilocks period for staff, seeking conditions that are just right? staff, seeking conditions that are 'ust riuht? .,, ., staff, seeking conditions that are 'ust riuht? ., ., , staff, seeking conditions that are 'ustriaht? ., ., , just right? people have options, you have seen that _ just right? people have options, you have seen that some _ just right? people have options, you have seen that some people - just right? people have options, you have seen that some people go i just right? people have options, you have seen that some people go with| have seen that some people go with the great resignation, i go with a great rotation. meaning that after covid people have said, ok, i have beenin covid people have said, ok, i have been in my role for a while, let's see what the options are and they are out there. many of the western european markets but also in the us, there are more vacancies than people unemployed, that includes the uk. the global staff shortages all over the place, which industries and in which parts of the world is it worse? it which parts of the world is it worse? , , , worse? it is deftly in the western markets, worse? it is deftly in the western markets. and _ worse? it is deftly in the western markets, and i _ worse? it is deftly in the western markets, and i would _ worse? it is deftly in the western markets, and i would say - worse? it is deftly in the western markets, and i would say that i markets, and i would say that includes australia but also japan —— definitely in. that is also where the ageing population is, so in terms of the industries, hardest hit
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during the pandemic, retail, shops had to close, travel, leisure, hospitality, the hotels had to close, there was no travel. that's when you see the main shortages because now they have to ramp up. the world bank recently said that the war in ukraine is expected to cause a major recession in europe and central asia, others have also echoed those concerns. what would that mean forjobs around the world? i am slightly more optimistic, i don't think it will be a major recession but it will definitely be a slow down and maybe at the edge of a slow down and maybe at the edge of a recession, just over, time will tell. but that will ease the jobs market to a certain extent. the shortages in talent are here to stay just because of the demographics. these labour shortages come at a time when inflation is soaring in many countries and if that is leading to central bank to increase the cost of borrowing, leading to
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recessions and less jobs. the cost of borrowing, leading to recessions and lessjobs. do the cost of borrowing, leading to recessions and less jobs. do workers have to be careful ofjust how much they ask for? aha, have to be careful of 'ust how much they ask for?— they ask for? a couple of things. inflation also _ they ask for? a couple of things. inflation also leads _ they ask for? a couple of things. inflation also leads to _ they ask for? a couple of things. inflation also leads to more i they ask for? a couple of things. i inflation also leads to more people coming back to the labour market, some people went into retirement and looked at their portfolio and said, maybe i need to do some work for a couple of years, that helps on the easing site. increasing interest rates helps on easing and reducing demand and easing the labour market along those lines. i think what you will see is that workers already are starting to go to more safe opportunities for more reputable companies, maybe not a start—up, looking for safety bees days than before. d0 looking for safety bees days than before. ,., , looking for safety bees days than before. , , ., before. do the big bosses of the companies _ before. do the big bosses of the companies that _ before. do the big bosses of the companies that you _ before. do the big bosses of the companies that you fill - before. do the big bosses of the companies that you fill roles i before. do the big bosses of the companies that you fill roles for| companies that you fill roles for share any of these concerns? how are they balancing them with trying to retain and attract talent? absolutely, talent is the number one
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on the ceo challenges list, every client that i talk to say, give me people, we need mortality. they are absolutely on the case. i think they are reflecting on what they offer to their people in terms of notjust compensation, but as i said, that is stable states, but work environment, how flexible it is, how do we make an environment where feels at home? those kind of things employers are definitely very much working on. is definitely very much working on. 15 there a sense with any of the companies you recruit for that as inflation tears into profit margins that they will try to save money when it comes to pay an employee welfare, as it is often a big part of the course? fiat; welfare, as it is often a big part of the course?— of the course? pay has to be competitive. _ of the course? pay has to be competitive, and _ of the course? pay has to be competitive, and benefits, i of the course? pay has to be - competitive, and benefits, otherwise you some people not get the people to show up at work, whether you have
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a factory, technology business and everything in between.— a factory, technology business and everything in between. well, on that toint, everything in between. well, on that point. boss. — everything in between. well, on that point. boss. i— everything in between. well, on that point, boss, i have— everything in between. well, on that point, boss, i have appreciated i everything in between. well, on that point, boss, i have appreciated your| point, boss, i have appreciated your time, thank you forjoining me, see you soon. have you had trouble trying to catch a flight recently? across europe, asia and the us, the likelihood is that either your airline or airport are suffering from a shortage of workers. aviation is still struggling to recover from the pandemic which caused around $200 billion of losses. that has wider effects because when people and goods cannot move around as freely as they want, economic growth is stifled. the international air transport association represents 290 airlines and has been having its big annual meeting in qatar, i have been catching up with the director—general. always a pleasure, let's start with this. how bad is the worker shortage in the airline
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aviation industry? seems that we're across parts of the world, they look chaotic. it across parts of the world, they look chaotic. , ., ., , across parts of the world, they look chaotic. , ., ., chaotic. it is not as bad as some of the scenes — chaotic. it is not as bad as some of the scenes would _ chaotic. it is not as bad as some of the scenes would suggest. - chaotic. it is not as bad as some of the scenes would suggest. we i chaotic. it is not as bad as some ofl the scenes would suggest. we need chaotic. it is not as bad as some of- the scenes would suggest. we need to put it into context. there are airports and indeed airlines that do have problems. they up in the pace of recovery which has really accelerated in the last 4—6 weeks, and i think some planning was on the basis that things would not be moving this fast. i am confident these will be resolved. it is important to recognise it is not every airport, not every airline or everyday. every airport, not every airline or eve da . ., , ., ., everyday. the airlines that are struggling. — everyday. the airlines that are struggling, whereas _ everyday. the airlines that are struggling, whereas a - everyday. the airlines that are struggling, whereas a feeling l everyday. the airlines that are i struggling, whereas a feeling the pinch most? is it ground staff, flight attendants? it is pinch most? is it ground staff, flight attendants?— flight attendants? it is mainly tround flight attendants? it is mainly ground staff. _ flight attendants? it is mainly ground staff, i _ flight attendants? it is mainly ground staff, i don't - flight attendants? it is mainly ground staff, i don't see i flight attendants? it is mainly ground staff, i don't see any i ground staff, i don't see any shortage of pilots, certainly in the us there is a structural shortage of pilots which i do not think will be addressed, that is pensively down to the rules and regulations around the minimum number of hours that a pilot
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has to have, so that is going to have a longer term impact, but the airlines know that is coming and i think they will adjust their capacity plants going forward to take that into account.- capacity plants going forward to take that into account. many will ask, what happened _ take that into account. many will ask, what happened to _ take that into account. many will ask, what happened to many i take that into account. many will ask, what happened to many of. take that into account. many will i ask, what happened to many of these employees? is it a case that they were furloughed or laid off during the pandemic at the just do not want to come back to the realjobs because they have moved on? i think that is fair. — because they have moved on? i think that is fair, there _ because they have moved on? i think that is fair, there are _ because they have moved on? i think that is fair, there are people - because they have moved on? i think that is fair, there are people who i that is fair, there are people who have retired and left the workforce, there are employees who were laid off and look for alternative work, others who decided they didn't like the unpredictability of the industry and have left. but one of the bigger problems that we have faced in the uk and in europe is the delay in getting new employees through the system, getting the necessary security checks done, the market is so hot, they go and look for another job. that has been a real struggle for airlines and that will continue for airlines and that will continue for some time.— for some time. given the global labour shortage, _ for some time. given the global
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labour shortage, is _ for some time. given the global labour shortage, is it _ for some time. given the global labour shortage, is it difficult i for some time. given the global labour shortage, is it difficult to recruit given that many and especially younger generations have got a little weight on their site to negotiate, higher salaries, got a little weight on their site to negotiate, highersalaries, better negotiate, higher salaries, better conditions, negotiate, highersalaries, better conditions, they are opting to choose other industries who simply pay more? it choose other industries who simply -a more? , ., , pay more? it is more complicated than that because _ pay more? it is more complicated than that because one _ pay more? it is more complicated than that because one of- pay more? it is more complicated than that because one of the i pay more? it is more complicated i than that because one of the things people have become accustomed to every past two years is more flexibility in terms of how they work, unfortunately that is not something that airlines can easily offer. pilots have to be present, cabin crew, banks have to be loaded, the option to work remotely doesn't exist. where people have enjoyed that flexibility, they continue to look for job that flexibility, they continue to look forjob opportunities that will offer than that. this adds to the challenge of attracting people to our industry, which is still a really exciting and attractive industry. has really exciting and attractive indust . r really exciting and attractive indust . a ., ., industry. as part of that the possibility _ industry. as part of that the possibility of _ industry. as part of that the possibility of paying - industry. as part of that the possibility of paying higherl possibility of paying higher salaries, especially given the cost of living crisis we are currently
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facing? of living crisis we are currently facin. ? ., , ~' , facing? salaries i think will be ad'usted facing? salaries i think will be adjusted but _ facing? salaries i think will be adjusted but idyllically - facing? salaries i think will be adjusted but idyllically used i adjusted but idyllically used outward manpower to highlight another challenge, because the perception of the airline industry is that we are male dominated, and in effect we are cutting off a lot of the available talent to the industry, that is a challenge we have, not making sufficient progress in addressing the gender imbalance within our industry.— in addressing the gender imbalance within our industry. there are wider implications. _ within our industry. there are wider implications, because _ within our industry. there are wider implications, because if _ within our industry. there are wider implications, because if the - implications, because if the shortage of workers doesn't end soon, and given the immense importance of the industry and impact on the global economy, it moves people and goods all around the world, it could be a big impact. it will be, you will not see networks returning to her they were in 2019 as quickly as we all believed. you will not see services being offered where they used to be offered. it is having a big impact in the us where the first point of pain has been in the regional airlines where they have lost pilots
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in particular to the big airlines and they are not going to be able to recruit pilots into that. it has a structural impact and it will be particularly noticeable in the us and other parts of the world as well. ,, ., ., and other parts of the world as well, ,, ., ., . ., and other parts of the world as well. ,, ., ., .., ., ., and other parts of the world as well. ,, ., ., ., ., ., well. shanghai came out of lockdown recentl , well. shanghai came out of lockdown recently. only _ well. shanghai came out of lockdown recently. only to _ well. shanghai came out of lockdown recently, only to go _ well. shanghai came out of lockdown recently, only to go back— well. shanghai came out of lockdown recently, only to go back into - well. shanghai came out of lockdown recently, only to go back into a i recently, only to go back into a temporary lockdown, elsewhere we have two new 0micron some variants causing problems, do you worry that the airline industry could be any long—term stop start pattern? ida. i long-term stop start pattern? no, i am not as concerned _ long-term stop start pattern? no, i am not as concerned as _ long-term stop start pattern? no, i am not as concerned as i _ long-term stop start pattern? no, i am not as concerned as i would i long—term 5top 5tart pattern? tip, i am not as concerned as i would be, i think we have seen in many countries they have moved beyond closing borders in response to the challenge. i think it is well recognised that it did little if anything to stop the spread of the virus. when you consider the huge economic damage caused and harm it created as a result of that, governments will probably think carefully before they introduce restrictions. we will seat in certain parts. shes restrictions. we will seat in certain parts.— restrictions. we will seat in
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certain arts. �* , ~' ., , restrictions. we will seat in certain arts. a ~ ., , ., certain parts. as we know, they wore in ukraine has— certain parts. as we know, they wore in ukraine has caused _ certain parts. as we know, they wore in ukraine has caused energy - certain parts. as we know, they wore in ukraine has caused energy prices i in ukraine has caused energy prices to skyrocket, adding next to labour cost, fuel is one of the biggest cause for airlines, that has to be severely hurting at a time when they are trying to get back on their feet. , , , feet. yes, fuel is the single bi t t est feet. yes, fuel is the single biggest cost. _ feet. yes, fuel is the single biggest cost, it _ feet. yes, fuel is the single biggest cost, it is _ feet. yes, fuel is the single biggest cost, it is a - feet. yes, fuel is the single biggest cost, it is a head i feet. yes, fuel is the single i biggest cost, it is a head wound, but we have seen high prices before, remember tooth as eight, crude oil was close to $150 a barrel, this is a business as usual challenge for the industry that clearly we will have to address but one that we can address successfully.— address successfully. higher oil trices address successfully. higher oil prices means — address successfully. higher oil prices means that _ address successfully. higher oil prices means that will - address successfully. higher oil prices means that will be i address successfully. higher oil| prices means that will be passed onto the consumer at a time when we are already seeing higher ticket prices in some parts of the world, up prices in some parts of the world, up by 30%. prices in some parts of the world, up by 3096-— prices in some parts of the world, ub 3096. ,.,., ., , up by 3096. where prices have gone up b that up by 3096. where prices have gone up by that degree. _ up by 3096. where prices have gone up by that degree, mainly _ up by 3096. where prices have gone up by that degree, mainly in _ up by 3096. where prices have gone up by that degree, mainly in areas - by that degree, mainly in areas where the airlines didn't have hedging, the us industry typically doesn't hedge its fuel, therefore would have been passing on significant increases in oil prices much faster than airlines in europe
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where they do engage in hedging. there is no way they can absorb that, it does eventually, like all energy, find its way through to the consumer in the form of a crisis. can you put a number on it? i know it will vary in different parts of the world, but what we talk about? i would think ba5ed the world, but what we talk about? i would think based on 2019 figures, you are looking at a minimum of somewhere in the region of 15 or higher than that. fin somewhere in the region of 15 or higher than that.— higher than that. on that note, alwa s higher than that. on that note, always appreciate _ higher than that. on that note, always appreciate your - higher than that. on that note, always appreciate your time, i higher than that. on that note, i always appreciate your time, thank you forjoining me, talk to you soon. that is all for this week's show, i hope you enjoyed it, keep up—to—date on the latest on the global economy on the bbc news website or smartphone app. follow me on twitter, i will tweet you back. thank you for watching, see you soon, goodbye.
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hello there. an east—west split across the uk as we head through the rest of the weekend with the best of dry and bright weather for eastern areas of england and scotland, as captured by our weather watcher in cambridgeshire. scattered showers towards western scotland, much of northern ireland too, and wales. and there'll also be some showers towards the south—west of england, some bright, some sunny spells in between. watch out for some thunder and some lightning, potentially the best of the sunshine, eastern scotland and also central southern england, eastern england to see temperatures reach 21 or 22 degrees celsius. now, as we head through this evening and overnight, clear skies for many out towards the east. temperatures will be lowest here, but milder underneath that cloud. showery outbreaks of rain starting to approach western scotland and western wales. by the time we get to the end of the night and our weather front starts to move further eastwards
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this is bbc news. i'm frankie mccamley with the headlines at four. borisjohnson says policy is more important than personality — as he faces renewed calls to quit from conservative backbenchers after the party lost two by—elections. if you're saying you want me to undergo some sort of psychological transformation, you know, i think that our listeners would know that that is not going to happen. police in norway say they're treating a shooting at a gay nightclub as an act of extreme islamist terrorism. abortion clinics start to close in the us after a supreme court ruling removed american women's constitutional right to abortion. more calls from the taliban for international support to deal with the aftermath of the earthquake, that's killed
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