Economic Research alert - June 2023

This paper provides an overview of research in the public domain over the last month with a focus on jobs, innovation, international and investment.

The methodology consisted of desk research.

Jobs: A recent CIPD report suggests a growing number of organisations believe that it is important to provide flexible working as an option when advertising jobs. They see this as a key way of attracting staff and addressing skill or labour shortages. One-third of job postings made on LinkedIn in the UK over the past 12 months have been in the green economy, the professional social network has revealed in their Global Green Skills report. Innovation: Research from Oxford Economics has found that more than 42% SMEs say that the rising cost of doing business means going green has become less important. Global investment in clean energy is on course to rise to USD 1.7 trillion in 2023, with solar set to eclipse oil production for the first time according to the World Energy Investment report. International: A report from the LSE shows that the cost of Brexit food trade barriers to UK households is now £6.95bn. Between December 2019 and March 2023 food prices rose by almost 25 percentage points. This analysis suggests that in the absence of Brexit this figure would be 8 percentage points (30%) lower. Investment: EY has published its latest attractiveness survey, which found Scotland topped the list for UK financial services foreign direct investment (FDI) in 2022 outside of London. Almost £16billion of investment will be poured into the North-east economy over the next decade, according to new research.

The report makes no recommendations.