Nominal Wage

What Erdogan’s unusual economic ideas mean for Turkey

Sign up for our Middle East newsletter and follow us @middleeast for news from the region. Turkish President Recep Tayyip Erdogan isn’t the only politician who doesn’t like the country’s banks charging people relatively heavily to borrow money. What sets him apart is his unorthodox belief in low interest rates …

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UK employers urged to give workers early pay rise

UK employers who pay the voluntary ‘living wage’ have been asked to give an early rise of more than 10% so their lowest-paid workers can keep pace with soaring prices. The Living Wage Foundation, a charity that campaigns for fair pay, said on Thursday it was raising its national living …

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Wafra Real Estate to invest in the development of Failaka Island – ARAB TIMES

WhatsApp Facebook Twitter E-mail Messenger This post has been read 1504 times! KUWAIT CITY, September 19: The Public Institute of Social Security, represented by its real estate branch, Wafra Real Estate Company, is studying investment in Failaka Island through the development of a marine tourist park with all its facilities, …

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The Eurozone experiences a 4% annual increase in labor costs in the second quarter of 2022; 4.4% jump in the EU

In the second quarter of 2022, hourly labor costs increased by 4.0% in the euro area and by 4.4% in the European Union (EU), compared to the same quarter of the previous year . These figures are published by Eurostat, the statistical office of the European Union. The labor cost …

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A divided government means a return to normal

Regardless of the final tables in the House and Senate races in November, President Joe Biden will enjoy an almost certain midterm election outcome. If, as widely anticipated, Republicans win at least a slim majority in the House, the president can finally deliver on the most important promise of his …

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Forest Department cracks down on ’employees’ turning hostile in Madhu case, 4 sacked

Palakkad: The Kerala Forest Department is taking a tough stance against its employees who are making it difficult to get justice for Madhu, the tribal boy who was lynched at Attappadi in Palakkad district four years ago. The department has so far removed four of its employees from the roll-call …

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Record rise in long-term health conditions fuels tightest labor market in at least 50 years – FE News

The UK employment rate from May to July 2022 for people aged 16-64 fell by 0.2 percentage points in the quarter to 75.4% and is still below pandemic levels pre-coronavirus (COVID-19). The number of full-time employees and self-employed workers has increased over the past three months, while the number of …

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Monetary policy alone is insufficient to control inflation

At a time when consumer price index (CPI) inflation has remained above RBI’s upper tolerance level of 6% for seven consecutive months and WPI inflation rates are at higher since January 2007, it is good that the issue has finally been debated in parliament. and the recent RBI rate hike …

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bne IntelliNews – Putin gives very optimistic forecast for this year’s results: no deficit and contraction of GDP by 2 to 2.5%

Russian President Vladimir Putin has made the most optimistic forecast for this year’s economic performance of any government to date, saying there will be no budget deficit and economic contraction will not exceed 2.5 % on September 7. “State finances have stabilized, and I would like to note that this …

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Australian Economic Update: Q2 2022 GDP

Insight GDP rose by 0.9% q/q (3.6% y/y), driven by a good result from household consumption and an impetus from trade. This data largely predates the rapid series of rate hikes in recent months, but showed an ongoing normalization in the household savings rate – which will likely decline further …

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Uncertainty can be worse than the slowdown

sankai By Joseph V. Amato We believe the onset of a recession is a time to be cautious, but it could also be a time of opportunity for equity investors. Friday gave us a mixed report on US nonfarm payrolls. The title The number of 315,000 new jobs masked the …

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End of the tea workers’ strike. And after?

During an unprecedented strike between August 9 and 27, tea workers in northeast Bangladesh demanded a cash wage of Tk 300 per day. The tea garden owners agreed to raise the wage to Tk 145 per day which angered the workers. In defiance of the decision of the owners, government …

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German inflation hits record 7.9% in August: Destatis

BERLIN, Aug. 30 (Xinhua) — After two months of decline, inflation in Germany is expected to hit a record high of 7.9 percent in August, according to preliminary figures released by the Federal Statistical Office (Destatis) on Tuesday. . Since the beginning of the Russian-Ukrainian conflict, energy prices have particularly …

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Will the Jobs and Skills Summit be a political skirmish hidden in consensus discussions?

Anthony Albanese talked about boosting productivity to stimulate nominal wage growth that isn’t just eaten away by price inflation. But he hasn’t backed that discussion with any real political substance, such as simply calling for the restoration of Paul Keating’s corporate bargaining system, designed to deliver win-win deals in better-paying, …

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European dividends rise 28.7% in Q2 2022 – EURACTIV.com

As inflation eats away at the purchasing power of European workers, Europe’s biggest companies have dramatically increased the amounts they have paid out to shareholders in the second quarter of 2022. The Global Dividend Index released by investment firm Janus Henderson Investors shows a sharp rise in dividends paid by …

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Here is the imminent victory of labor over capital (?)

Striking workers may not want it, but for the first time in decades, the (im)balance of power between labor and capital seems to be turning in their favor. A new “macro supercycle” is approaching, writes optimistic head of global macro at TS Lombard, Dario Perkins, and there is nothing anyone …

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Why wages are the hottest inflation signal for the Fed and markets to watch

A billboard stands near the SMART Alabama, LLC auto parts plant and Hyundai Motor Co. subsidiary in Luverne, Alabama, July 14, 2022. Joshua Schneyer | Reuters The latest consumer and producer price data presented key evidence that inflation is slowing, but the one key inflation reading for the Federal Reserve …

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An EU/US natural gas spread to push the euro below parity?

100 euro banknote on a gas burner. The concept of the cost of natural gas and the energy crisis in Europe – Photo: Leka Sergeeva/Shutterstock Since the beginning of the conflict between Russia and Ukraine, Europe has been hit by the worst energy crisis in its history, with the price …

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This Week in History: August 15-21

25 Years Ago: Leaked Pentagon Report Reveals US Role in Zaire Invasion On August 16, 1997, the Washington Post released a leaked account of an eight-page internal Pentagon report that exposed the fact that U.S. military personnel had worked in Rwanda for the previous three years to train the forces …

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Average regular wage growth eroded by inflation in January-June

Taipei, Aug 13 (CNA) The average real regular wage in the first six months of this year fell for the first time in six years as inflation eroded wage growth, according to the General Directorate of Budget, accounting and statistics (DGBAS). this week. Data compiled by the DGBAS showed that …

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Parental pay gap, euro zone crisis, etc.

What are the latest thoughts on fiscal and monetary policy? The cackling Roundup keeps you informed with the latest research, charts, and speeches. Want to receive the Hutchins Roundup by email? Sign up here to get it in your inbox every Thursday. Why do fathers earn about twice what mothers …

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Jim Schultz edges out Doug Wardlow in GOP attorney general primary

Political newcomer and GOP-endorsed candidate Jim Schultz edged out fellow Republican Doug Wardlow as key results continued to roll in for Minnesota attorney general. The winner will face Democrat Keith Ellison for the state’s highest legal office this fall — a position Republicans haven’t held in half a century. “Republicans …

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Soaring inflation and stagnant wages are eroding citizens’ purchasing power

JASIM UDDIN HAROON | Published: August 08, 2022 08:24:32 | Updated: 08 August 2022 16:08:51 Wage growth in Bangladesh remains stunted by soaring headline inflation and the mismatch is fueling concerns about declining real income for people and its cumulative fallout. Because of the yawning gap between wages and prices, …

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Barcelona ‘must eliminate eight first-team players’

Barcelona are set to eliminate up to eight players after La Liga rejected their attempts to register their summer signings. Barcelona administrator xavier should have removed up to eight players from his first team in order to register their new signings. Despite their well-documented financial problems, Barcelona have not been …

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Minimum Wage Increases Positively Impact Women’s Health and Negatively Impact Men’s Health – UMaine News

Raising the minimum wage generally harms the health of low-educated, low-income men and improves the health of women in the same demographics, a Maine university finds. study. Income-based health disparities have worsened in recent decades in the United States, according to a extensive 2019 study using data from the Centers …

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Australian tram workers strike in Melbourne, but unions push for real wage cut

Around 90 strikers picket outside the East Preston tram depot in north Melbourne over a new company agreement (EA) on wages and conditions. The picket at the site of the Downer Group, which is refurbishing 450 Melbourne trams, has been underway for two weeks. East Preston Tram Depot strikers picketed …

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Who’s ready for a $192-a-month increase in their Social Security check?

July 30, 2022 04:06 [email protected] (Sean Williams) Job : July 30, 2022 04:06 Updated: July 31, 2022 06:52 The numbers don’t lie: Social Security is America’s most vital social program. According to the Center on Budget and Policy Priorities, Social Security is responsible for lifting nearly 22.5 million people out …

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The occupiers covered the “cities” and “hurricanes” of Donetsk: photos of destruction

During the year, the Russian occupiers carried out 35 attacks against the civilian population of Donetsk. A total of 22 colonies were affected. Є вбити та врахани мирни жилити, Ukrainian national police reported July 29 in Telegram. The Russian army hit schools, railways and residential buildings. “In one day, the …

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Uniper’s stabilization deal is the best it can get

MINISTER for the management of European affairs and the appropriation Tytti Tuppurainen (SDP) said on Friday that Finland, Germany, Fortum and Uniper had reached the best possible deal on a bailout for Uniper, a Dusseldorf-based, natural gas-dependent subsidiary of Finland’s Fortum. “The key was to find an agreement that …

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Social Security checks set to skyrocket in 2023, but nowhere near biggest ‘increase’ ever

July 23, 2022 04:06 [email protected] (Sean Williams) Job : July 23, 2022 04:06 Updated: July 23, 2022 06:54 For the vast majority of American workers, Social Security will play a vital role in their financial well-being during retirement. According to a recent survey by national pollster Gallup, 84% of non-retirees …

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Japanese yen swings against USD as BOJ maintains ultra-loose policy

Japanese Yen, Bank of Japan, USD/JPY, Monetary Policy – Talking Points Japanese Yen Swings Against US Dollar Following Bank of Japan Decision BoJ maintains policy rate and yield curve control amid tepid inflation USD/JPY stabilizes after initial move as trades look for direction The Bank of Japan maintains its ultra-accommodative …

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Wages are not responsible for rising inflation in Australia

Corporate profits, not labor costs, had the most significant impact on rising inflation levels in Australia, according to an international survey of the latest research data. The Australia Institute released a working paper this month analyzing the supposed role that wage growth has played in driving up inflation in recent …

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Americans are not in the mood for a recession: splurging on goods, flocking to restaurants

But inflation is eating everyone’s lunch. By Wolf Richter for WOLF STREET. Retail sales in June jumped 1.0% from May, 8.4% from a year ago and 32.5% from June 2019, to $681 billion, seasonally adjusted, the Census Bureau reported today. Retail sales are sales of goods. Sales of services, such …

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Support workers asked to cover shifts at Don Dale during prison officers’ strike

NT Commissioner of Corrections Matthew Varley has asked educators from Territory Families to replace Don Dale Youth Prison when correctional officers go on a 24-hour work stoppage on Monday, according to a departmental document, and follows the budget hearings in late June where the Minister of Corrections refused to disclose …

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A recession would be worse than the current inflation – YubaNet

July 13, 2022 – The Federal Reserve has come under intense pressure in recent months to raise interest rates sharply in the name of controlling inflation. The voices calling for these rate increases often say explicitly that they are worth it even if they significantly increase the risk of recession. …

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Grill’d Receives $16 Million in Taxpayer Funding for Controversial ‘Hamburger University’ Training Program

Grill’d has come under fire for a $16 million taxpayer bill, which left ex-employees furious as they lived on minimum wage for years. Hamburger giant Grill’d reportedly received $16.6 million from taxpayers after enrolling thousands of its workers in a government apprenticeship incentive scheme. The burger food chain can pocket …

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Wall Street and Gold Recovered From Hit NFP Job Addition

On Friday, the market focused on the June NFP jobs report. Although the Fed almost confirmed rate hikes of around +0.75% in July, the pace of these in September, November and December will also depend on the actual path of inflation/inflation expectations . The Fed will also focus on wage …

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The creation of the “Land & Real Estate Authority” is not in accordance with the Constitution – ARAB TIMES

WhatsApp Facebook Twitter E-mail Messenger This post has been read 500 times! KUWAIT CITY, July 6: The Ministry of Municipalities has confirmed that the proposal submitted by a number of MPs to establish the Public Authority for Lands and Real Estate smacks of unconstitutionality, Al-Qabas daily reports. There is no …

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US multinationals grappling with soaring dollar

The rapid appreciation of the US dollar since the start of the year has been a double-edged sword for US multinationals, pushing some of them to decide to hedge or reposition their overseas operations to avoid the fallout. For an importer, the surge in the greenback against the euro, the …

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Pritzker not happy about Griffin’s election losses

After defeating his billionaire nemesis Kenneth Griffin, Illinois Governor JB Pritzker said he was unhappy to see the hedge fund mogul’s list of Republican candidates go down the election tubes this week, including including Aurora Mayor Richard Irvin. As part of a declared bid to do ‘everything’ to defeat Pritzker’s …

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Why the inflationary surge in UK public finances is unlikely to last

Inflation was a boon for Rishi Sunak, increasing Britain’s tax revenue and reducing the country’s budget deficit, giving the Chancellor a windfall which he used to promise future tax cuts. But politicians, officials and economists don’t believe the good times will last. They predict that a combination of higher interest …

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Big rate hikes needed as global stagflation risks loom, BIS warns

SINGAPORE – The Bank for International Settlements (BIS) has warned that risks of global stagflation – a combination of high inflation and an economic slowdown – are “prevailing” due to high and volatile commodity prices, war in Ukraine and slowing growth in China. Central banks will need to act “quickly …

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Protests force Eskom in South Africa to extend power cuts

June 24 (Reuters) – South Africa’s state-owned electricity company Eskom said it would be forced to extend power cuts on Friday and over the weekend as union protests linked to the stalled negotiations wages disrupt operations. The utility, which has struggled to meet power demand in Africa’s most industrialized nation …

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Glastonbury Festival tickets could cost £78,000 in 50 years, research suggests

The Glastonbury Festival returns this week for the first time since before the Covid-19 pandemic. Tickets for this year’s event cost around £280, around half the average weekly wage in the UK, according to research. Although the festival is considered quite expensive, it is also known for its good value …

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The real minimum wage has fallen in most EU member states – Novinite.com

In a context of inflation which affects European countries, minimum salaried workers in 15 of the 21 Member States with a minimum wages recorded a decline in their wages in real terms between January 1, 2021 and January 1, 2022. This despite relatively large increases in nominal rates EU during …

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Here’s what the Fed’s rate hike means for your paycheck

San Francisco CNN Business — American workers saw their wages climb faster than at any time since the mid-1980s. But inflation rose so quickly that workers actually took a pay cut instead. Every time inflation rises, it eats into workers’ wages and eats away at their bank accounts. And this …

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The trucking industry at a crossroads in 2022

The trucking industry is much more in the public eye today than it has been in recent years. As a critical link in the supply chain, trucking has been a hot topic in the media throughout the pandemic. All of this attention means that truck driving as a profession is …

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Prime Minister Anthony Albanese and Opposition Leader Peter Dutton get a pay rise for weeks in their new jobs

Opposition Leader Peter Dutton, who receives base salary and an 85% charge, will see his annual income before allowances rise to $401,561. The President and Senate Speaker’s salary will rise to $379,855 before allowances, while Greens leader Adam Bandt will earn $314,737 from July 1. Presidents receive a 75% charge …

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ALP sits idle while capitalists trash living standards

If you want a model of society that puts profits before people, Australia at the moment wouldn’t be a bad place to start. Matt Grudnoff, senior economist at the Australia Institute, last month described the recent slump in living standards as “Australia’s biggest real wage destruction since records began”. The …

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May Consumer Price Index Report: Inflation Rises Again

Travel is not getting cheaper. Strong demand after two years of pandemic shutdowns and other factors pushed up already high airfare and hotel prices last month, both hitting record highs. Flight prices in May were up almost 13% from the previous month and almost 38% from May 2021. Hotel prices …

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Inflation’s ‘fun’ period was far too brief

Placeholder while loading article actions Consumer confidence has plummeted, with the widely-watched University of Michigan confidence index at its lowest since 2011. This is incongruous with the labor market being very hot. The last time confidence was this low, the unemployment rate was 9% and people were worried about the …

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In Japan, April real wages fall the most in four months as inflation jumps

TOKYO, June 7 (Reuters) - Japan's real wages posted the largest drop in four months in April, the government said on Tuesday, as a surge in inflation eclipsed a rise in nominal wages, eroding workers' purchasing power. The report highlights the challenge policymakers face as they seek to soften the …

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More companies paid their employees a higher salary in 2021. But can this continue?

After the worst recession on record in 2020, Singapore’s economy rebounded strongly in 2021, growing by 7.6%. Despite the need to manage COVID-19 safe management measures and supply chain disruptions, businesses and employees benefited in 2021. To learn more about how employees were paid in 2021, we reviewed MOM’s recently …

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Labor Party says low-paid workers should not ‘roll back’ as it backs 5.1% pay rise | Australian economy

Labor has called on the Fair Work Commission to ensure low-paid workers are not “rolled back” due to rising rates of inflation, backing a minimum wage increase of at least 5, 1% and ignoring suggestions that this would lead to further inflationary pressure. Employment Minister Tony Burke said the new …

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Fed’s subdued inflation forecast needs explaining

Placeholder while loading article actions For Federal Reserve officials looking to get inflation under control, the outlook has certainly improved in recent weeks. First, inflation has peaked. In particular, goods price inflation is declining as supply chain disruptions ease and demand shifts toward services and away from goods. And even …

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More employees in Singapore received salary increases in 2021

Total wage growth rebounded to pre-pandemic levels as businesses across the country continued their economic recovery. Total wage growth in Singapore, including employer contributions to the Central Provident Fund (CPF) of resident employees who have worked for the same employer for at least one year, was 3.9% in 2021. According …

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May 28 – PNC’s Gus Faucher: Solid Growth in Consumer Spending in April, with Much Lower Inflation | Columnists

April’s personal income and expenditure report was a strong report for continued economic growth in 2022. Personal income growth was solid, there was a strong increase in consumer spending and the inflation slowed considerably during the month. Personal income rose 0.4% in April compared to March, as personal after-tax (disposable) …

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Australia’s productivity growth cannot meet its target without change: Treasurer

Jim Chalmers, Australia’s new treasurer, has said the nation cannot return to 1.5% productivity growth under current policies. The treasurer said he wanted to have a direct national conversation about the challenge of increasing productivity, which enables wage growth. “But the starting point has to be a more realistic assessment …

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Wage growth set to outpace inflation in 2022, though food inflation remains a concern: economists

SINGAPORE – Singaporeans can expect real wage growth this year, with wage increases outpacing inflation, the Ministry of Trade and Industry (MTI) and the Monetary Authority said on Wednesday (25 May). of Singapore (MAS), although private sector experts have said wage growth likely to be uneven across industries. And while …

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Rural, long-neglected Philippines newly attractive in times of Covid-19

For most of the pandemic, Marlen Zilmar woke up to the sound of roosters. Before the sun reached its fierce peak, she was swinging a makeshift watering can made from a perforated plastic bottle over the garden of her family home, where she had returned after the coronavirus hit Manila. …

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An earnings recession is brewing, expert says. Look for cash.

If there’s anyone who wasn’t shocked by last week’s huge earnings misfires from major retailers, it’s our longtime (but not old) friend Stephanie Pomboy, who heads the Institutional Economics Council by MacroMavens. Even though she faced a (thankfully) mild case of Covid-19, she is still as sharp and acerbic as …

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SA Reserve Bank raises repo rate by 50 basis points to 4.75%

SA Reserve Bank raises repo rate by 50 basis points to 4.75% Governor Lesetja Kganyago made the announcement on Thursday afternoon. FILE: South African Reserve Bank Governor Lesetja Kganyago. Photo: @SAReserveBank/Twitter JOHANNESBURG – The South African Reserve Bank has raised the repo rate by 50 basis points to 4.75% per …

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OnlyFans’ ‘E-Pimps’ – The New York Times

Chatters aren’t necessarily better at extracting money from subscribers than a creator who manages their own inbox; in fact, they may be worse. “You should do your homework very well on who you hire,” a 29-year-old OnlyFans creator, who goes by Sonia LeBeau, told me. She has worked with agencies …

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Some people benefit from higher inflation, but not millions. What is your situation ?

Inflation and interest rates are rising. Next month, the Fair Work Commission will announce whether it wants the minimum wage to rise so low-wage workers don’t fall back too far. But how will businesses cope with a higher minimum wage? Won’t this fuel inflation further and send businesses to the …

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The Crypto Crash is just the beginning

Sign up for Derek’s newsletter here. The US economy is not doing very well right now. US GDP contracted in the last quarter, despite strong results from US consumers. Inflation is high; markets are down; wages and personal savings rates show troubling statistical signals. Is the United States destined for …

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NFIB: Small business expectations for better trading conditions at record low, lowest in 48 years

Below is a press release from the National Federation of Independent Business: Homeowners expecting better conditions in next six months drop as 32% cite inflation as number one business issue the NFIB Small Business Optimism Index was unchanged in April, remaining at 93.2 and the fourth straight month below the …

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You are what your actual fed funds rate says you are

The writer is Managing Director and Chief Investment Officer of Richard Bernstein Advisors Former NFL coach Bill Parcells once said, “You are what your record says you are.” A team’s coach may try to rationalize a losing record by pointing out good planning, unfortunate injuries, or small player mistakes, but …

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Controlling inflation: the role of companies and employees

Businesses and employees can’t raise interest rates like the Federal Reserve, adjust the money supply, or fix supply chain bottlenecks on their own, but they do have a way to fight inflation. By working together, employers and employees can mitigate some of the inflationary pressures caused by the wage-price spiral. …

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The yen: a cheap safe haven for uncertain times

The writer is co-head of currency strategy for Goldman Sachs The yen has been the worst performing major currency this year, slipping around 12% against the dollar and even underperforming the Turkish lira and Argentine peso. Against a basket of trading partner currencies and adjusted for inflation, the yen has …

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We have the lowest minimum wage in Asia Pacific. It’s high time to revise it

Bangladesh has experienced amazing economic growth in recent years. But the state of the country’s human resource minimum wage continues to paint a picture of disparity and inequality. May 01, 2022, 10:30 a.m. Last modification: May 01, 2022, 11:06 a.m. Dr Md Asadul Islam and Dr Mohammad Enamul Hoque. Illustration: …

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Real wages have fallen 4% over the past year despite labor shortages and a big resignation

Inflation-adjusted wages fell 3.7% in the past year to March as rising prices eroded strong wage increases. American workers have seen historic wage growth as companies struggle to attract candidates. Yet higher prices across the economy leave Americans with much weaker purchasing power. Loading Something is loading. Even with extraordinary …

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Inflation Will Rise Longer Due to War, Demand, and Labor Markets – IMF Blog

By Jorge Alvarez and Philip Barrett The war in Ukraine will accelerate inflation, which we expect will remain high for longer than expected due to rising commodity prices and increased pricing pressure. As shown in the Chart of the Week, our latest World Economic Outlook now projects faster increases in …

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How access to earned wages can usher in the end of predatory lending

Can you manage an unexpected expense with your salary? According to a recent study by E&Y, only 29% of urban Indians said they were able to meet unexpected expenses with their salary, while the majority still live paycheck to paycheck. This essentially points to gaps in financial resilience in the …

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We checked the main claims of the leaders’ debate. Here’s what we found.

Was the COVID recession 30 times worse than the GFC? Is everything going up except your wages? Have all of Fiji’s COVID vaccines been deployed by Australia? The first leaders’ debate of the 2022 federal election campaign had no shortage of demands worthy of scrutiny. Here’s what we found. The …

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Australian elections: Behind slander and diversion, Labor and Liberals vow to step up attacks on working class

The first week of Australia’s election campaign was characterized by personality bashing and politics from the ruling Liberal-National coalition and the opposition Labor Party. The media has been preoccupied with ridiculous “fact-checking” exercises and obsessive coverage of “blunders” by politicians. The official campaign is more mundane and devoid of serious …

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Tier 2 IT companies face steeper downgrades as customers are likely to cut spending

Long-term investors in the IT industry are preparing for possible downgrades. Although there should be good growth over the next 6-12 months, the industry might be overvalued, especially the second tier. There are headwinds that could lead to tighter margins and lower demand in the long run. Customers in …

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Scholarships should be extended to the middle classes

Few would dispute the assumption that strategically planned, high quality higher education has the ability to transform Irish society in a short time and provide the opportunities, skills and confidence that young people need to achieve their full potential. However, access to higher education in Ireland remains inequitable and unequal. …

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The Struggles of Today’s International Lebanese Students

Worry, fear, concern. These are the words that come to mind when news channels announce that higher inflation is expected. The annual inflation rate in the United States peaked at 7.9% for the 12 months ending in February, a 39-year high for the country. People going about their daily lives …

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UK wage growth remains below pre-COVID levels despite rise

Nominal wages rose 4.1% in the year to January 2022, compared to an average of 2% in the decade before the pandemic. Photo: Dominic Lipinski/PA Images via Getty Economists said wage growth in the UK was “normal rather than exceptional” once the end of the furlough rise is taken into …

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Irish households are hit hard by their incomes, with food pushing inflation up to 8% this summer

Sharp food price increases will raise existing energy costs to push inflation to 8% by summer, helping to deal a heavy blow to Irish household incomes, the Central Bank has warned. Its latest quarterly report predicts the effects of the Ukraine invasion will weigh on the Irish economy for at …

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Rural wage growth stagnates as inflation rises

Rural wage growth, which surged in the early months after the pandemic, has since leveled off, unable to keep pace with rising rural inflation. Rural wages in nominal terms rose 5.2% in January from more than a year ago for agricultural workers. For non-farm workers, wages rose 4.2% from a …

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UK civil servants face real pay cut in 2022-23 as cost of living soars

British civil servants will feel the brunt of the pressure on living standards, after ministers set guidelines that will leave them with pay below inflation by an average of just 2% next year. The government released its framework for salary rewards in 2022-23 on Thursday, which said departments would be …

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In Italy, a mayor who defended refugees faces 13 years in prison

On Monday March 21, the lawyers of Domenico “Mimmo” Lucano, former mayor of the small Italian town of Riace, filed a final appeal against his conviction handed down last October. The date of the verdict remains uncertain, but if the appeal fails, Lucano faces thirteen years behind bars. The disappearance …

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Households face £1,100 hit by higher taxes and soaring inflation

At the same time, he expects wages to rise by around 5.3% – high in terms of cash, but still insufficient to keep pace with prices. Combined with tax hikes, that equates to a 2.2% drop in real household disposable income, the biggest annual drop since records began in the …

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Australian Education Union sell-out deal met with record opposition – Vote ‘No’ in employee ballot!

The Australian Education Union in Victoria announced on Monday that its proposed industrial deal with the state’s Labor government was opposed by 39.3% of voters at delegate meetings. This represents record opposition registered against the AEU’s four-year industrial agreements. For the last regressive agreement in 2017, 18% of delegates voted …

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TUCP Files Request for P430 Wage Rise for C. Visayas Workers

WAGE INCREASE. TUCP party list representative Raymond Democrito Mendoza (second from right) made a point during a press conference before the group filed a request for a salary increase of PHP 430 before the Regional Tripartite Wages Council and Productivity of the Central Visayas, Monday, March 21, 2022). Mendoza said …

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This is still a Hawkish central bank says BofA

Image source: Bank of England. Credit Laura Bell. The selloff in sterling and interest rate markets after Thursday’s Bank of England policy meeting is evidence of reduced investor expectations for the number of further interest rate hikes due in the coming months. But British economist Robert Wood of Bank of …

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A US recession is on the table

This article is an on-site version of our Unhedged newsletter. Sign up here to receive the newsletter straight to your inbox every weekday Hello. I am tanned, rested and ready after a week of fishing. Before I left, it was pretty clear that the war in Ukraine would lead to …

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Energy bills are expected to rise at least 14 times faster than wages in 2022

Even before the announcement of the new energy price cap, wage growth was failing to keep pace with energy bills. Photo: Belinda Jiao/SOPA Images/LightRocket via Getty UK energy bills are set to rise at least 14 times faster than wages this year, according to new data. According to new analysis …

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