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BBC (June 13)

2023/ 06/ 15 by jd in Global News

“UK wages have risen at their fastest rate in 20 years, excluding the pandemic, raising expectations that UK interest rates will have to rise. Regular pay excluding bonuses increased by 7.2% in the three months to April, although it still lags behind inflation.” The Bank of England has raised “interest rates 12 times since 2021 to try to slow price rises” and warned that surging pay is contributing to inflation.

 

Wall Street Journal (June 27)

2022/ 06/ 28 by jd in Global News

“Workers throughout the economy are demanding bigger raises to compensate for soaring prices. This could push inflation higher as companies pass along higher wage costs in the price of goods and services.” Though bond markets haven’t determined “how serious the Fed is about controlling inflation… workers aren’t waiting to find out as they seek higher pay.”

 

Nikkei Asian Review (March 15)

2018/ 03/ 16 by jd in Global News

“Japan Inc. still clings to outdated norms like seniority-based promotion and pay. Women still generally face more ‘non-regular’ job offers than full-time ones. Tokyo’s governance upgrades are no match for opaque practices that fueled false-data scandals at Kobe Steel, Mitsubishi Materials, Toray Industries and elsewhere.”

 

Wall Street Journal (July 5)

2017/ 07/ 07 by jd in Global News

“The bosses of America’s biggest and best-known companies are learning a common lesson this year: The pay is great, but job security has rarely been shakier.” During the first five months of 2017, CEO turnover at large companies more than doubled. The “churn reflects a broader reality for the country’s business elite: An array of challenges—from increasing impatience on Wall Street and in boardrooms to a corporate landscape rapidly transformed by new technologies and rival upstarts—have made the top job tougher and more precarious than just a few years ago.” Today, “even the biggest companies are vulnerable to shareholder disapproval and competitive forces that their size and stature once helped them fend off.”

 

New York Times (January 12)

2015/ 01/ 13 by jd in Global News

“Hands down, 2014 was the best year for the labor market since the Great Recession hit in late 2007.” Nevertheless, the “recent progress does not so much point a way forward as highlight weaknesses that need to be corrected and risks that need to be avoided in order not to backslide.” Job growth has yet to catch up with population growth, and continues to be concentrated in the lowest paying areas.

 

Washington Post (May 8)

2014/ 05/ 08 by jd in Global News

“If you look around the world at nations that are now outperforming the United States on international tests, it is not hard to figure out the differences between their vastly improved educational systems and ours. It is not simply the pay of teachers that matters but the selectivity of education programs, the rigor of their preparation and the continuing education and feedback they receive.”

 

New York Times (September 1)

2013/ 09/ 02 by jd in Global News

“In the decade from 2002 to 2012, wages have stagnated or declined for the entire bottom 70 percent of the wage ladder.” Last Thursday “thousands of fast-food workers in 60 cities walked off their jobs, the latest in an escalating series of walkouts by low-wage workers demanding higher pay and the right to organize without retaliation.” The workers are seeking $15 an hour, up from their present $9. In demanding more reasonable wages, “the fast-food strikers have it right.”“In the decade from 2002 to 2012, wages have stagnated or declined for the entire bottom 70 percent of the wage ladder.” Last Thursday “thousands of fast-food workers in 60 cities walked off their jobs, the latest in an escalating series of walkouts by low-wage workers demanding higher pay and the right to organize without retaliation.” The workers are seeking $15 an hour, up from their present $9. In demanding more reasonable wages, “the fast-food strikers have it right.”

 

Washington Post (July 10)

2013/ 07/ 12 by jd in Global News

“Is the full-time American job going the way of the dodo? The signs aren’t exactly heartening.” Part-time work has been rising, working hours declining and low-wage work increasing as part of an ongoing, long-term trend. The use of temporary workers through staffing agencies has also increased. “Left to its own devices, the American economy is eroding the American job. Hours decline, dragging take-home pay down with them.”

 

The Economist (March 9)

2013/ 03/ 10 by jd in Global News

“The annual shareholder proxy season now getting under way in America could be the liveliest ever. The bosses of Apple and Disney have drawn flak not only for their strategies but also for their pay. Activist shareholders are on the march. About time, too…. Trying to improve the way a firm is run is more constructive than the traditional ‘Wall Street walk’, whereby disgruntled shareholders simply sell their shares.”

 

Wall Street Journal (February 9)

2011/ 02/ 11 by jd in Global News

Cheating is not “a new phenomenon in Japan’s national sport,” but the current scandal rocking the sumo world is different because “hard evidence in this case is forcing Japanese to confront the reality and seriousness of the problem.” The reality is the incentive structure needs to be changed. One possible solution is pay sumo wrestlers with prize purses, “like boxers, far more if they win than lose, rather the current system of giving them monthly salaries plus relatively small incentive payments.”

 

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