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Study Highlights Barriers to Social Mobility for Lower Socioeconomic Groups

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A new study has revealed that 70% of individuals from lower socioeconomic backgrounds face significant barriers that impact their access to opportunities, with younger generations being particularly affected. The research, conducted by Co-op and Demos, underscores the ongoing struggles many face in achieving social mobility, a challenge exacerbated by social stigma and financial obstacles.

The study found that over a quarter (27%) of those surveyed feel pressured to hide or downplay their background during job interviews or in the workplace, illustrating the persistent social stigma surrounding socioeconomic status. Among 16-34 year-olds, this figure rises dramatically to 82%, with 39% admitting they have concealed their background. These findings mirror data from the Social Mobility Commission’s latest report, which reveals that the disadvantage gap index at age 16 is at its highest level since 2011-12.

The Co-op and Demos research also highlights the significant economic impact of improving social mobility. The study estimates that addressing the barriers to opportunity could add £200 billion to the UK’s GDP over the next decade. In light of these findings, Co-op is calling on the UK Government and businesses to take decisive action to remove the obstacles hindering social mobility.

The study identified several key barriers that individuals from disadvantaged backgrounds face when trying to progress, including:

  1. Lack of financial support for further education (21%)
  2. Low confidence or sense of belonging in certain work environments (19%)
  3. High cost of relocating for better opportunities (17%)
  4. Inaccessible unpaid internships or work experience (14%)
  5. Growing up in regions with fewer opportunities (13%)
  6. Limited access to career advice or mentorship (10%)
  7. Restricted professional networks or contacts (9%)
  8. High cost of appropriate interview/work attire (9%)
  9. Lack of relatable experiences with colleagues (6%)
  10. Bias in recruitment based on socioeconomic background (6%)

One young person, Ishitha Islam, a 21-year-old from London, shared her personal experience as a first-generation professional. “I still feel like I don’t fit in at prestigious organisations because there is no one like me reflected in the higher ranks,” she said. “Businesses need to realise that social mobility benefits everyone, bringing creative ideas and broader representation.”

Claire Costello, Co-op’s Chief People and Inclusion Officer, called the findings a “wake-up call” and emphasized the economic value of promoting social mobility. “Millions are being held back from reaching their potential due to their background. Promoting social mobility is not just morally right, but an economic opportunity.”

As part of its ‘Backgrounds into the Foreground’ campaign, Co-op is urging the Government to fast-track plans to make socioeconomic background a protected characteristic under the 2010 Equality Act, ensuring protections against discrimination in the workplace and education.

This study builds on findings from the Social Mobility Commission’s 2024 report, which shows that young people from higher professional backgrounds are more than twice as likely to pursue higher education and over four times as likely to secure high-level professional roles compared to their lower-income peers. Co-op’s campaign highlights the urgent need for policy changes and a collective effort from businesses to create an inclusive environment that offers equal opportunities for all.

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Amazon MGM Takes Creative Reins of James Bond Franchise Amid Casting Buzz

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In a landmark shift for the James Bond franchise, Amazon MGM has partnered with long-time producers Michael G. Wilson and Barbara Broccoli to oversee the future of 007. While all three entities retain co-ownership of the Bond intellectual property, Amazon MGM will now lead creative decisions, marking a significant departure from its previously limited role.

The move follows Amazon’s $8.5 billion acquisition of MGM in 2021, which granted it partial ownership but little say in the franchise’s artistic direction. With Daniel Craig’s departure after 2021’s No Time to Die, speculation about the next James Bond has intensified. Jeff Bezos, Amazon’s founder and executive chairman, fueled the debate by asking his followers on social media platform X, “Who’d you pick as the next Bond?” The overwhelming response highlighted British actor Henry Cavill as a fan favorite. Known for roles in Superman, The Witcher, and Mission: Impossible – Fallout, Cavill previously auditioned for the role in 2006’s Casino Royale but lost to Daniel Craig. Director Martin Campbell praised Cavill’s audition but deemed him too young at the time. Now in his early forties, Cavill’s age could be a factor if long-term commitments are considered.

Daniel Craig acknowledged Wilson and Broccoli’s contributions, telling Variety, “My respect, admiration, and love for Barbara and Michael remain constant and undiminished.” With Wilson stepping back and Broccoli expected to reduce her involvement, Amazon MGM gains greater creative control, raising questions about the franchise’s future direction.

Fan speculation continues to swirl around Cavill, alongside other contenders like Taron Egerton, Tom Hardy, and Idris Elba. While Amazon MGM has yet to announce a timeline or reveal casting decisions, industry watchers anticipate a new era that may extend beyond traditional films, potentially including spin-offs, series, and streaming exclusives. As the studio reshapes Bond’s future, audiences worldwide eagerly await the next chapter in the iconic spy saga.

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Global Hiring Slump Marks Longest Downturn in Decades, Says Hays CEO

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The global job market is experiencing its longest downturn in over 20 years, according to Dirk Hahn, CEO of Hays, Britain’s largest listed recruitment firm. Hahn attributes the slump to ongoing macroeconomic uncertainty, which is deterring both employers and job seekers from making moves.

Hays, which employs nearly 7,000 consultants worldwide, reported weaker demand for temporary workers in early 2025, while demand for permanent roles—particularly in Europe—remains sluggish following a pre-Christmas dip. Countries such as France, the UK, Ireland, and Germany, Hays’s largest market, are feeling the pressure most acutely.

In the six months leading up to December, Hays reported a 15% drop in group net fees, falling to £496 million from £583.3 million the previous year. Pre-tax profits fell sharply by 67% to £9.1 million, compared to £27.6 million during the same period the prior year. Hays’s share price, already down 25% over the past year, dipped a further 1.8% on Thursday, closing at 71¾p and placing the company’s market value just below £1.2 billion. Despite declining profits, the company will maintain its interim dividend at 0.95p per share.

While the broader UK labor market has shown resilience with limited mass layoffs, businesses remain cautious about expanding their workforce. “Most companies have enough work to retain their current staff, but they’re not looking to increase headcount,” said James Hilton, Hays’s chief financial officer. “Many employees who received pay increases in recent years are not seeking new roles, creating a stalemate. However, over time, people will seek promotions or fresh challenges.”

Recruiters had anticipated a market recovery earlier this year, but Hahn now warns that the rebound may not materialize until 2026. In the meantime, Hays is focusing on its technology recruitment division—its most profitable segment—as it navigates the prolonged global hiring slowdown.

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UK Government Reports Lower-Than-Expected Budget Surplus in January

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The UK government reported a budget surplus of £15.4 billion in January, falling short of economists’ forecasts of £21 billion and the £19 billion predicted by the Office for Budget Responsibility (OBR). Despite January typically seeing a boost from self-assessment tax payments, the lower-than-expected figure has increased total borrowing for the financial year to £118.2 billion—over £11 billion more than the previous year.

The government’s debt-to-GDP ratio now stands at 95.3 per cent, a level last observed in the 1960s. With the OBR set to release updated forecasts on March 26, there are concerns that the government may struggle to meet its goal of reducing the debt ratio by 2029. This could lead to potential spending cuts or tax hikes in the autumn budget.

Reduced debt-servicing costs helped boost January’s surplus, dropping from £9 billion in December to £6.5 billion. However, this was partially offset by a £6 billion one-off expense related to the government’s repurchase of military housing from private firm Annington.

Darren Jones, chief secretary to the Treasury, emphasized the government’s commitment to “economic stability and meeting our non-negotiable fiscal rules.” He also noted that a comprehensive spending review—the first of its kind in 17 years—is underway to ensure that public funds are used efficiently and aligned with national priorities.

 

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