Wages

Pope Francis urges leaders in S'pore to seek fair wages for foreign workers

These workers contribute a great deal to society and should be guaranteed a fair wage, he said

Proverbial ostrich: Cong slams govt over unprecedented decline in wages

The Congress on Sunday claimed that a combination of slow wage growth and "back-breaking" inflation has caused an unprecedented decline in real wages and said that like the "proverbial ostrich", the government continues to remain blind to the most fundamental challenge faced by the Indian economy. Congress general secretary in-charge communications Jairam Ramesh said a new report by a noted brokerage firm has once again shed light on the truth that the Union Government has consistently denied - real household incomes in India are facing a persistent decline. "A combination of slow wage growth and back-breaking inflation has caused an unprecedented decline in real wages (wages adjusted for price rise) and therefore incomes," he said in a statement. Ramesh pointed out that several surveys and data sets - including the Annual Survey of Unregistered Enterprises (ASUSE), the Reserve Bank of India's KLEMS data, and the Household Consumer Expenditure Survey (HCES) - have demonstrated ...

Paytm to cut remuneration of its board members, cap annual pay at Rs 48L

Currently, the annual salaries of non-executive independent directors of Paytm's board members runs into crores

BOJ highlights rising wage pressure from structural changes in job market

The findings back up the central bank's argument that broadening inflationary pressures warrant raising interest rates

Indian port workers to go on strike to demand better wages, benefits

Around 20,000 workers are part of the group of port workers' unions, and all of them would join the strike, said Sathya Narayanan, a senior union member

Thousands of drivers file legal claims against Amazon for unpaid wages

Thousands of delivery drivers filed legal claims against Amazon on Tuesday, alleging the company's classification of them as independent contractors instead of employees has led to unpaid wages and other financial losses. Two law firms spearheading the action said about 15,860 Amazon Flex drivers have submitted arbitration claims with the American Arbitration Association, where 453 similar cases are already being litigated. Amazon's Flex program, which was founded in 2015, signs up drivers to deliver packages with their own cars and a special app. The company pitches the work as a flexible, part-time opportunity that allows people to earn extra income during the hours they choose. Most drivers earn $18-25 per hour, according to Amazon, though how much they get paid can depend on other factors, such as their location and how long it takes to complete deliveries. The arbitration claims submitted Tuesday were made by drivers in California, Illinois and Massachusetts, all of which have

Samsung Electronics' union in S Korea calls first ever walkout next week

The union, which has about 28,000 members, or more than a fifth of the company's total workforce, said it will stop work for one day on June 7

ECB policy must stay restrictive into 2025, says chief economist Lane

ECB policymakers needed to keep rates in restrictive territory this year to ensure that inflation kept easing

Growth in US labour costs accelerates in first quarter amid rise in wages

The Employment Cost Index (ECI), the broadest measure of labor costs, increased 1.2% last quarter after rising by 0.9% in the fourth quarter, the Labor Department's Bureau of Labor Statistics said

Congress questions Modi govt on payment of MGNREGS wages in Karnataka

Attacking the Modi government over key issues in Karnataka, the Congress on Monday questioned the "delay" in the vital Bagalkote-Kudachi Railway line project and also asked when it is going to pay the state's MGNREGS workers their wages. Congress general secretary Jairam Ramesh posed questions to Prime Minister Narendra Modi ahead of his rally in Bagalkote in Karnataka. "Why has the Modi Government failed to deliver the Bagalkote-Kudachi Railway line? Why is the Modi Government holding up the Upper Bhadra and Mahadayi projects? When will the PM pay Karnataka's MGNREGA workers?" Ramesh said in a post on X. Elaborating on what he said were "jumla details", Ramesh said the Bagalkote-Kudachi line of the South-Western Railway has now been delayed by more than eight years. As of today, only 33 per cent, or 46 km of the 142 km line has been completed, he said. "Originally sanctioned in 2010-11 at an outlay of Rs 986 crore, the project has now seen its cost balloon to Rs 1,649 crore. ...

Five-day week not there yet, but bank wage settlement has a lot for bankers

While the wait for a five-day week gets longer, the most interesting developments that make the agreement progressive and humane relate to leave

Bank of Japan leaning toward exiting negative rates in March: Report

Upon ending negative rates, the central bank is also likely to overhaul its massive stimulus programme that consists of a bond yield control and purchases of riskier assets, they said

BOJ Governor Kazuo Ueda keeps upbeat view on inflation, wage outlook

He added that Japan was in a "state of inflation," rather than deflation, and is likely to see prices keep rising

Daily wages paid under MGNREGA not adequate, says Parliamentary panel

The daily wages paid under the flagship rural employment scheme - Mahatma Gandhi National Rural Employment Guarantee Scheme - are inadequate and not in consonance with the rising cost of living, a parliamentary panel told government on Thursday. It said this may be one of the reasons for dearth of workers under the scheme. The Parliamentary Standing Committee on Rural Development and Panchayati Raj, in a report tabled in Lok Sabha, pointed out the high range of variations in MGNREGA wages across the states. "The committee finds the range of wages vary from as little as Rs 221 in Madhya Pradesh and Chhattisgarh, Rs 224 in Arunachal Pradesh, Rs 228 in Bihar and Jharkhand to Rs 354 in the three gram panchayats of Sikkim (Gnathang, Lachung and Lachen), Rs 328 in Nicobar and Rs 311 in Andaman," it said. "Observing the quantum of wages since 2008, the committee finds the wages inadequate and not in consonance with the rising cost of living. At this juncture, the agricultural labourers an

Wage hike provisions to reach Rs 26,000 cr by March: State Bank of India

State Bank of India, which saw a sharp 35 per cent fall in its December quarter net profit due to a one-time expenditure towards increased salaries and pensions, said the burden will jump to around Rs 26,000 crore by March this year. The country's largest lender on Saturday reported a steep decline of 35 per cent in its net income at Rs 9,164 crore during October-December 2023 compared to Rs 14,205 crore profit recorded in the corresponding period a year ago and Rs 14,330 crore earned in the preceding quarter. The public sector lender attributed the fall in profit to the additional provision of Rs 7,100 crore made in the reporting quarter towards salaries and pensions arising out of the 17 per cent wage hike settlement reached with employee unions in November last year. The revises wages are effective from November 2022. Explaining the impact of the wage hike settlement, chairman Dinesh Kumar Khara said, "Of the Rs 7,100 crore total provisions made in the December quarter, Rs 5,400

Real wage growth positive for 2nd straight year in 2022: ILO study

Along with Turkey, India is the only country that saw positive growth in real wages for the second consecutive year after the pandemic struck in 2020

IBA signs MoU with unions on pay revision; okays 17% hike for 5 years

The parties will endeavour to finalise the bipartite settlement within 180 days from the date of this minutes

At 48 hours a week, Indians 6th most hardworking globally: ILO data

But Indians work less than smaller countries with small populations such as Bhutan, the Congo, Lesotho, and Gambia

United Auto Workers union reaches tentative agreement with Mack Trucks

The United Auto Workers union has reached a tentative contract agreement with Mack Trucks that covers about 4,000 workers in three states. Mack Trucks confirmed a tentative agreement on a five-year contract early Monday after the UAW announced the deal just before midnight Sunday. The terms of this tentative agreement would deliver significantly increased wages and continue first-class benefits for Mack employees and their families, Mack President Stephen Roy said. At the same time, it would allow the company to successfully compete in the market, and continue making the necessary investments in our people, plants and products. Nearly 4,000 UAW members at Mack Truck in Pennsylvania, Maryland and Florida (UAW Region 8 and Region 9) have a tentative agreement!, the union said on social media platform X, formerly known as Twitter. The UAW said that more details would become available as members review the tentative deal with Mack, which is owned by Volvo Group. Mack said UAW members

Labour market shows progress in key areas but challenges remain: Report

Labour markets has shown better intergenerational mobility, increased regular wage workers and narrowed caste based segregation, according to State of Working India report 2023