Good times for job hunters

Hiring spree

Demand for staff has surged this month at the fastest rate since the 90s, according to the Recruitment and Employment Confederation (REC). UK employers are on a hiring spree as shops and hospitality reopen after lockdown. Yesterday the Bank of England said unemployment is likely to peak at 5.4% later this year, slightly higher than what it is currently.

Holiday costs jump

The price of foreign holidays is likely to rise this year due to pent-up demand and a lack of flights. Airlines are reluctant to bring planes back into service in case they have to cancel flights again. Confusion over different vaccine and testing rules in different countries is also adding to the uncertainty.

On the rebound

The UK is on track for the biggest economic recovery since WW2, according to the Bank of England. It’s revised its growth estimates for the year, forecasting a 7.25% surge in GDP - in February it was expecting 5%. The economy should be back to its pre-pandemic size by the third quarter of 2021.

10p plastic bags

The charge for single use plastic carrier bags is set to double to 10p in all shops in England from 21st May. Even corner shops will have to charge. Plastic bags have cost 5p since 2015, and usage has dropped 95%.