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Tag: wage

Labor ministry panel proposes historic minimum wage hike in Japan

Labor ministry panel proposes historic minimum wage hike in Japan

World
July 31 (UPI) -- A Japanese government panel on Wednesday recommended the nation's largest minimum wage increase in nearly 20 years, which would push hourly earnings in major cities like Tokyo above 1,000 yen for the first time. The labor ministry's advisory panel issued the recommendations after marathon meetings that began mid-Tuesday. It proposed raising the national hourly minimum to 901 yen -- equivalent to $ 8.30 -- in fiscal 2019, also a record level. The minimum wage would be higher in certain, larger cities. Seventeen rural areas would see an average of 700 yen ($ 6.45) per hour, whereas Tokyo and Kanagawa would have the highest, at about 1,010 yen ($ 9.33) per hour. In previous years, the minimum wage has risen about 25 yen a year. Some critics say, however, whatever workers ga...
Wage growth nears 11-year high but hiring slows

Wage growth nears 11-year high but hiring slows

Business
By James Sillars, business reporter Average wage growth has accelerated to levels not seen since July 2008, according to official figures. The Office for National Statistics (ONS) said earnings, excluding the effects of bonuses, rose by 3.6% on an annual basis in the three months to May - beating the forecasts of economists. When bonuses were included, the percentage figure rose to 3.4% from 3.2% a month earlier.The data suggests a boost to household spending power as the rate of inflation, due to be updated on Wednesday, currently stands at 2%. Image: Consumer spending has been constrained despite wage growth outpacing inflation But the latest employment figures also betrayed a possible early sig...
Connecticut is raising its minimum wage to $15. Here’s what it is in other states

Connecticut is raising its minimum wage to $15. Here’s what it is in other states

Finance
Connecticut's governor on Tuesday signed a bill into law that will increase the state's minimum wage to $ 15 an hour by 2023.The state thus joins a growing list of jurisdictions where the amount is higher than the federal government's minimum of $ 7.25.Here's a map showing the current minimum wage in each state, as well as where it is scheduled to rise (or not).More from Personal Finance:Kids are increasingly worried about paying for collegeClimate change can pose big risks to real estate investments5 affordable places to retire abroadSubscribe to CNBC on YouTube.Let's block ads! (Why?) Personal Finance
Wage growth strongest for nearly a decade

Wage growth strongest for nearly a decade

Business
Pay packets rose by an average of 3.1% in the three months to August, the fastest pace for nearly a decade, according to official figures. The Office for National Statistics (ONS) also said unemployment fell by 47,000 to 1.36 million while the unemployment rate remained at a 43-year low of 4%.Pay growth - excluding bonuses - was up from 2.9% in the previous period.It has not been as strong as 3.1% since the three months to January 2009 and has not been greater since 2008.The figures look less impressive when taking account of the effect of inflation - in real terms pay rose by just 0.7% over the period, though this was still the best since the end of 2016. ONS head of labour market David Freeman said: "People's regular monthly wage packets grew at their strongest rate i...
China to wage 'cold war' with USA, CIA expert says

China to wage 'cold war' with USA, CIA expert says

World
July 21 (UPI) -- China is waging a 'cold war' against the United States of America, a CIA agent told an Aspen Security Forum in Colorado. "I would argue ... that what they're waging against us is fundamentally a cold war - a cold war not like we saw during THE Cold War [between the U.S. and the Soviet Union] but a cold war by definition," Deputy Assistant Director Michael Collins of the CIA's East Asia Mission Center told the Washington Post Columnist and Associate Editor David Ignatius who moderated Aspen Security Forum in Colorado Friday. "A country that exploits all avenues of power," including "economic, military" to undermine the standing of its rival compared to its "own standing without resorting to conflict." Collins added that the threat is not necessarily coming from China itse...