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New Work Foundation Index reveals UK workers suffering most from insecure employment

New in-depth analysis of UK job market data reveals women, disabled people, ethnic minorities and young workers have been consistently trapped in insecure…

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New in-depth analysis of UK job market data reveals women, disabled people, ethnic minorities and young workers have been consistently trapped in insecure employment over the last twenty years.

Credit: Work Foundation

New in-depth analysis of UK job market data reveals women, disabled people, ethnic minorities and young workers have been consistently trapped in insecure employment over the last twenty years.

The Work Foundation, a leading think-tank dedicated to improving work in the UK, today launches its new ‘UK Insecure Work Index’ that details the prevalence of in-work insecurity felt by workers across the UK, and reveals how this insecurity has changed over the last two decades.

Using ONS labour market data from 2000 to 2021, the Work Foundation index focuses on three elements that can constitute insecurity at work – employment contracts, personal finances and access to workers’ rights.

Results reveal four groups of workers consistently trapped in the most severe category of in-work insecurity over the last twenty years, which has affected 20-25% of workers every year on average and an estimated 6.2 million employees just last year:

  • Young workers who are two and half times more likely to be in severely insecure work than those in the middle of their working lives (43% of 16-24-year olds vs. 17% of 25-65-year olds)
  • Women who are 10% more likely to be in severely insecure work than men (25% compared to 15%)
  • Ethnic minority workers are more likely to be in severely insecure work than white workers (24% versus 19%). Men from ethnic minority backgrounds are 10% more likely to experience severely insecure work compared to white men (23% versus 13%)
  • Disabled workers who are 6% more likely to suffer severely insecure work, compared to non-disabled workers (25% compared to 19%).

Data also reveals the sectors most at risk of severe in-work insecurity are hospitality, services and agriculture, which see one in three workers affected, compared to one in five nationally.

Ben Harrison, Director of the Work Foundation at Lancaster University, said, “At a time of a cost of living crisis, those in insecure and low paid work are among the groups at most risk. Wages have stagnated and while millions more people may be in employment, the quality and security of the jobs they are in often means they are unable to make ends meet.”

Job market data captured during the pandemic demonstrates that those in severely insecure work face the biggest risks in a crisis. During Covid-19, these workers were at greater risk of losing their jobs, were ten times more likely to receive no sick pay, were more likely to lose out on support through furlough or other schemes.

 “Our analysis shows that job insecurity is impacting certain groups more than others – in particular if you are a young person, a woman in work, from an ethnic minority background or have disabilities, you are more likely to experience severe insecurity in work,” Harrison continues. “With the Bank of England predicting inflation could potentially rise to 10% by the end of 2022, workers may be facing the largest real-term wage cut we’ve seen in generations.”

Former Chair of the Social Mobility Commission, Rt Hon. Alan Milburn, said: “The challenges facing millions of UK families due to job insecurity, low pay and lack of full-time work shouldn’t be underestimated. As the country faces the worst cost of living crisis in living memory, it is clear that more urgently needs to be done.

 “Social mobility has stagnated over recent decades and the UK Insecure Work Index confirms that severely insecure work significantly reduces people’s chances of escaping poverty. It is a stark reminder of the need to focus on access to more secure, better paid and higher quality jobs if we are to truly level-up the UK.”

TUC General Secretary, Frances O’Grady, welcomed the UK Insecure Work Index. She said: “Up and down the country, millions are trapped in jobs that have wildly unpredictable hours, low pay, and limited rights.

“For years working people were promised improved rights and protections. But ministers have now shelved the Employment Bill, which they said would help make Britain the best place in the world to work. 

 “Instead of tackling insecure work, ministers have sat on their hands and allowed it to flourish. In the midst of a cost-of-living emergency, it’s more important than ever that the government clamps down on low-paid precarious work.

“The time for excuses is over. We need to see government action to boost workers’ rights and end exploitative practices like zero hours contracts.”

Lord Gavin Barwell, Chief of Staff to the Prime Minister (2017-19) said: “Today for the first time ever, we have fewer people out of work than job vacancies. But, if low unemployment is a UK success story, the government and employers now face two challenges. First, how do we encourage people back into the market to meet the demand for labour? And second, how do we improve the security of those jobs and thereby level up the country?

“This timely report provides recommendations for what the government can do to improve security while maintaining the benefits of the UK’s current approach. The government is on the search for ways to use the regulatory freedom we now enjoy outside the EU: building on the success of the UK economy in creating jobs by ensuring those jobs are secure in the broadest sense of the word would be a great place to start.”

Ben Harrison adds: “In the immediate term, the Chancellor must raise Universal Credit in line with predicted inflation to ensure support through this cost of living crisis is targeted to those in low-paid and insecure work.

“And while plans for an Employment Bill that could have addressed many of these issues appear to have been shelved, the fact remains Government cannot hope to deliver on its ambition to Level Up the country without driving up employment standards and increasing the number of higher quality, better paid and more secure jobs on offer.”

The launch of the UK Insecure Work Index is the benchmark for the Work Foundation’s Insecure Work Research Programme, which aims to produce timely insights on insecure work in the UK going forward.

The UK Insecure Work Index report is published and available in full on the Work Foundation’s website on 26 May 2022: www.theworkfoundation.com.             

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Modified mRNA Demonstrates 10-Fold Protein Production

Scientists at Hong Kong University of Science and Technology came up with a technique to increase the efficiency and potentially the efficacy of mRNA therapeutics….

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Scientists at Hong Kong University of Science and Technology came up with a technique to increase the efficiency and potentially the efficacy of mRNA therapeutics. mRNA molecules have what is called a poly-A tail, which is basically a string of adenine nucleotides at one end. These researchers discovered that by replacing some of these nucleotides in the mRNA tail with cytidine, a cytosine base with a ribose sugar attached, that they could enhance the resulting protein production of the mRNA and increase its stability and life-span. The technique could lead to more effective mRNA therapies and vaccines, potentially enabling clinicians to achieve similar or better effects with smaller doses.

mRNA therapies have come a long way in just the last few years. The COVID-19 pandemic has propelled this approach from an emerging technology to a mainstay of our vaccine response. The concept is elegant – deliver mRNA strands to the patient, and allow their own cellular machinery to produce the relevant protein that the strands code for. So far, so good – the approach, once considered unrealistic because of the fragility of mRNA, has proven to work very well, at least for COVID-19 vaccines.  

However, there is always room for improvement. One of the issues with current mRNA therapies is that they can require multiple rounds of dosing to create enough of the therapeutic protein to achieve the desired effect. Think of the multiple injections required for the COVID-19 vaccines. Creating mRNA therapies that can induce our cells to produce more protein would certainly be beneficial.

To address this limitation, these researchers have found a way to modify the poly-A tail of synthetic mRNA strands. They found that by replacing some of the adenosine in the mRNA tail with cytidine, they could drastically increase the amount of protein the resulting strands ended up producing when applied to human cells and in mice. This translated to 3-10 times as much protein when compared with unmodified mRNA.

The researchers hope that the approach can enhance the effectiveness and required dosing schedules for mRNA therapies.

“Increasing the protein production of synthetic mRNA is generally beneficial to all mRNA drugs and vaccines,” said Becki Kuang, a researcher involved in the study. “In collaboration with Sun Yat-Sen University, our team is now exploring the use of optimized tails for mRNA cancer vaccines on animal. We are also looking forward to collaborating with pharmaceutical companies to transfer this invention onto mRNA therapeutics and vaccines’ development pipelines to benefit society.”

See a short animation about the technology below.

Study in journal Molecular Therapy – Nucleic Acids: Cytidine-containing tails robustly enhance and prolong protein production of synthetic mRNA in cell and in vivo

Via: Hong Kong University of Science and Technology

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LIV Golf Expands to Courses Used By PGA Tour

LIV Golf announced three new venues to its 2023 calendar.
The post LIV Golf Expands to Courses Used By PGA Tour appeared first on Front Office Sports.

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LIV Golf is pushing further into the PGA Tour’s turf.

The Saudi Arabia-backed league announced three new venues for its 2023 season, all of which are used regularly by the PGA Tour or DP World Tour.

  • In February, LIV Golf will come to El Camaleón in Mexico’s Mayakoba resort area. The course, designed by Greg Norman prior to his role as LIV Golf CEO, was the PGA Tour’s first course in Latin America.
  • In April, LIV will travel to Sentosa in Singapore, which has hosted the Singapore Open.
  • In June, the tour will make its trip to Spain’s Real Club Valderrama, whose history includes the Ryder Cup and DP World Tour events.

LIV is also adding The Grange Golf Club in Adelaide, Australia, as it grows to 14 events next year.

The PGA Tour, which is under investigation by the Justice Department over antitrust concerns, hired lobbyist and major Republican fundraiser Jeff Miller to improve its standing in Washington.

PGA Tour Hires Top Republican Strategist Amid LIV Golf Clash

The PGA Tour could be seeking help on the antitrust front.
December 1, 2022

Bank Shots

LIV golfers Phil Mickelson and Sergio Garcia responded to Tiger Woods after the latter called for Norman’s ouster due to his pugilistic stance toward the PGA Tour.

“Greg Norman is our CEO, and we support him,” said Garcia. “We all wish we could come to an agreement. There are people who could have done wrong in both places, but it seems that there are only bad guys on one side.”

Mickelson responded to a comment by Woods that the PGA Tour had to take out a huge loan to survive past the pandemic by tweeting out financial information from the Tour’s public documents.

The post LIV Golf Expands to Courses Used By PGA Tour appeared first on Front Office Sports.

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XPeng stock rises 48% from a double-bottom pattern. Should you buy it?

Shares of XPeng Inc. (NYSE:XPEV) rose 48% on Thursday premarket after promising delivery outlook. XPeng posted 5,811 electric vehicle deliveries in November….

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Shares of XPeng Inc. (NYSE:XPEV) rose 48% on Thursday premarket after promising delivery outlook. XPeng posted 5,811 electric vehicle deliveries in November. Despite the number falling 63% from the prior year, it increased 14% from October. The increase in deliveries reflected the easing of Covid-19 rules, which have hit EV makers in China this year.

XPeng said it expects the deliveries to rise significantly in December 2022. The deliveries will be boosted by a ramp-up in the production of G9s. Analysts project up to 10,000 deliveries in December. The delivery outlook overshadowed a reported Q3 loss of $0.39. XPeng’s revenue, however, rose 19.3% to $959.2 million or £786 million. The positive stock market news and outlook boosted the outlook for XPEV, which is already down 80% YTD.

XPEV recovers above the MA amid a bullish RSI divergence

XPEV Chart by TradingView

On the daily chart, XPEV recovered above the 20-day and 50-day moving averages. It is for the first time that the stock is recovering above the moving averages since July. 

XPEV is also recovering from a double bottom that formed close to $6.2. A bullish RSI divergence also occurred towards $6.2. The level could prove to be the bottom price if XPEV maintains the recovery. The RSI reading of 60 indicates that XPEV is yet to reach overbought levels.

How attractive is XPEV?

This article finds investing in XPEV favourable in the short term. With the deliveries and outlook, XPEV could continue to rise. The levels around $12 and $14 should be watched.

It should be noted that Chinese car sales tend to pick up towards the end of the year. So, it is possible for XPEV to maintain gains in the medium term, with the expectation.

However, we consider the greater stock market risks still high. China also still needs to ease its strict Covid-19 policy further, and it could weigh the automakers.

The post XPeng stock rises 48% from a double-bottom pattern. Should you buy it? appeared first on Invezz.

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