EDITION 1026
1 JULY 2024

The phrase, “It can only get better”, is an optimistic way of saying, “It can't get any worse.” Some 80% of survey respondents in the UK said our country was in a "very, very bad"  or "fairly bad" way, the highest proportion in Europe. The same YouGov poll this week revealed that 53% of British adults don’t think they’d have anything in common to talk to Rishi Sunak about, if they met him at a party. So, this week, I ask: What question would you ask the prime minister if you met him socially? Please share your thoughts in our latest poll. VOTE HERE

So, as another week slips by, here are 10 things which caught my attention and may have escaped yours. Please feel free to share on social media and forward to your colleagues and friends so they can also subscribe, learn and engage. I would be very grateful if you did.

Before you dive in, remember our POTENTIAL workbook [see below] is on offer for only £99. This unique workbook will help guide your organisation to its highest potential. Contact us today to start your transformation.

William Montgomery
Editor and CEO of TEN

1. How to make good decisions faster. As a leader, learning to make good decisions without hesitation and procrastination is a capability that can set you apart from your peers. While others vacillate on tricky choices, your team could be hitting deadlines and producing the type of results that deliver true value. That’s something that will get you - and them - noticed. READ MORE

2. Rich world's worker shortage to grow. A new report reveals that labour markets in advanced economies, including the UK and EU, are experiencing unprecedented tightness, a trend likely to continue. This tightness is "not just a pandemic-induced blip" but a long-term issue driven by ageing populations and slowing population growth. The report estimates that GDPs in major advanced economies could have been 0.5% to 1.5% higher in 2023 if job vacancies had been filled. Seven countries, including Germany, Japan and the United States, face particularly acute shortages, with more vacancies than unemployed workers. McKinsey & Company

3. Workers are poised for change. Workers are embracing AI and prioritising skills growth amid rising workloads and accelerating change in the labour market, new research shows. Nearly half (45%) of respondents to the PwC Hopes and Fears survey said their workload has increased significantly in the past year, while two-thirds (62%) said the pace of change at work has increased. Fewer than half of the 56,000 respondents across 50 countries and territories said they have opportunities to learn new skills at their current employer. Many businesses now realise that they must invest in their workers' growth and development so they can adapt to new challenges. PwC

4. Do you suffer from 'microstress'? Workers who suffer from severe burnout may be experiencing heightened levels of microstress, new research reveals. A study involving more than 11,000 people globally found that microstress – brief moments of stress in our professional and personal lives that accumulate daily to slowly "suck the life out of us" – was most pronounced in healthcare workers, who are often overwhelmed by high-patient volumes, insurance demands and fast-paced environments. Draining interactions with family and friends are also major contributing factors. The key to combating microstress and avoiding burnout, the authors say, is to turn negative interactions into positive ones. FastCompany

5. Southgate and Kane more popular than any UK politician. Half of Britons (50%) have a favourable opinion of England manager Gareth Southgate, with the same number having a positive view of England captain Harry Kane. Only 12-16% have a negative opinion of either team member. (Among English people specifically these figures are effectively the same). By contrast, only 39% of the public have a positive view of Keir Starmer – one of Britain’s most popular politicians – while 51% have a negative opinion. YouGo

6. London is the most congested city in Europe. Having just spent the weekend in London, I am not surprised to discover that London has been ranked the most congested city in Europe for the third consecutive year, according to an analysis by traffic management company, Infix. In 2023, drivers spent an average of 99 hours sitting in traffic, two hours more than 2022. The length of time lost to jams in London last year was 3% above pre-coronavirus levels. London was the third most congested city worldwide, after New York and Mexico City. BBC

7. Teens lack 'crucial' money skills. Teenagers in wealthy countries lack crucial financial literacy and math skills needed for the digital economy, a new report has revealed. Despite increased access to bank accounts and interest in cryptocurrencies, many 15-year-olds struggle with basic financial concepts and calculations. The study, which surveyed 20 nations, found that across 14 OECD countries an average of 18% of teens had difficulties using division to handle their finances. Experts highlight a growing gap between young people's financial knowledge and the complex products they encounter online. Notably, the UK has opted out of these assessments, creating a significant data gap in understanding financial literacy among British youth. OECD

8. High mortgage rates pricing out buyers. High mortgage rates mean affordability is still "stretched" for many home buyers, according to the Nationwide. The building society said that while earnings had been rising faster than house prices in recent years, this had not been enough to offset the impact of more expensive mortgages. Its comments came as it said house price growth had been "broadly stable" in June, with prices up 0.2% from the previous month. The average house price is now £266,064, the lender said. BBC

9. This is how much it costs to raise a child in 2024. The cost of raising children has soared over the course of the past decade, leaving many parents struggling to make ends meet. Research from investment experts Moneyfarm suggests it now costs more than £220,000 to raise a child to the age of 18. Another study, by SmarTrike suggests that the figure is even higher. They found that the cost of early-years childrearing has gone up 75 per cent over ten years, due mainly to an increase in childcare costs. These figures take into account costs of £23,500 a year to parent younger children thanks to a £15,000 a year average cost of childcare for a child under two. Metro

10. The bottom line. The government’s total income in 2023/24 was nearly £1.1trn. About two-thirds of receipts came from three sources: income tax (£277bn), national insurance contributions (£180bn) and VAT (£170bn). Corporation tax contributed £103bn, and council tax £45bn. About £95bn was generated from “other sources”, largely income from public corporations such as social housing. The deficit, the difference between public spending and receipts, was £121bn. Office for National Statistics