wages

This tag is associated with 125 posts

COVID-19 and Jobs in UK – Government to pay 80% of wages for those not working

The government is to pay the wages of millions of workers across Britain to keep them in jobs as the economic fallout from the coronavirus outbreak escalates. In an unprecedented step for the British government, the chancellor, Rishi Sunak, said the state would pay grants covering up to 80% of the salary of workers if … Continue reading

Wages Inequalities in Canada – 60% of the dispersion in individual employment earnings is accounted for by worker characteristics within firms, and the remaining 40% by firm characteristics

While the productivity gap between the top 10% of firms in the productivity distribution and other firms in the Canadian economy has increased since 2000, it has not resulted in a widening of the employment earnings distribution. The employment earnings gap between workers in the top and bottom ends of the earnings distribution has actually declined over … Continue reading

Wage Increases and Labour Shortages in Sweden – How companies manage labour shortages

Nominal wage increases in Sweden have been unusually low in recent years, despite a strong outcome for the Swedish labour market. Several indicators point to demand for labour having exceeded supply, which according to the textbook should have led to higher wage growth. In this Commentary I show how survey- based indicators can have exaggerated … Continue reading

Wages in US – What is really happening ?

Over the past 12 months, average hourly wages rose 3.2 percent, according to the latest jobs report from the Bureau of Labor Statistics. But the longer-term story is contested. Many analysts and commentators lament the situation of stagnating wages, while others celebrate wage growth. To take just two of hundreds of examples, our colleagues in … Continue reading

Wages – Decline in organized labor has reduced the bargaining power of labor across the developed world Bridgewater says

The biggest force behind the global profit margin expansion has been the decline in the labor share of output. A key factor that has contributed to this reduction in labor’s bargaining power versus capital is the decline of organized labor and unions. This phenomenon has occurred over decades for an array of reasons that are … Continue reading

Wage Growth Slowdown in Australia – The extent and causes

A range of measures show a significant slowing in wage growth in Australia over the past five years. The Wage Price Index (WPI) grew at an annual average of 2.2 per cent in the five years to December 2018, which compares with average annual growth of 3.3 per cent in the previous five years to … Continue reading

Wages of Immigrants in Canada – Those with work permits prior to their admission have the highest entry wages

The profile of immigrants to Canada can vary between admission years. Immigrants can face challenges when they arrive in Canada, such as acquiring the ability to speak at least one of the official languages or getting their foreign credentials recognized. The immigrants admitted to Canada in 2015 earned the highest entry wages of any cohort admitted since 1981. … Continue reading

Unemployment and Wage Growth in US – No sharp pickup in wage growth foreseen by FRBSF

The unemployment rate ended 2018 at just under 4%, substantially lower than most estimates of the natural rate. Could such an ostensibly tight labor market lead to a sharp pickup in wage growth from its recent moderate pace, such that the relationship between wage growth and unemployment is not always linear? Investigations using state-level data … Continue reading

Wage and Task Profiles of Employment in Europe in 2030 – Labour market is set to become even more polarised

Europe’s labour market is set to become even more polarised, largely due to the growth of jobs at the very bottom of the wage distribution. However, across the EU28, there is considerable heterogeneity in the patterns of structural change by job-wage quintile, with many Member States projected to upgrade their occupational structure towards higher paying … Continue reading

Wages of Immigrants in Canada, 2016 – Median entry wages of tax filers admitted in 2015 was $25,400

The profile of immigrants to Canada can vary between admission years. Immigrants can face challenges when they arrive in Canada, such as acquiring the ability to speak at least one of the official languages or getting their foreign credentials recognized. The immigrants admitted to Canada in 2015 earned the highest entry wages of any cohort admitted since 1981. … Continue reading

OECD – The decoupling of wages from productivity

Several OECD countries have been grappling not only with slow productivity growth but have also experienced a slowdown in real average wage growth relative to productivity growth, which has been reflected in a falling share of wages in GDP. At the same time, growth in low and median wages has been lagging behind average wage … Continue reading

US – How are real incomes rising even as real wages are flat?

Every month for the last year, the Bureau of Labor Statistics’ wage data releases have continued to demonstrate that workers simply aren’t getting ahead. Despite some nominal growth, real wage growth has been consistently hovering around zero (rising at just a 0.2 percent annual rate from 2016-2017). At the same time, this year’s annual data release from the Census Bureau showed us that the median household income has risen to $61,370 in 2017, a 1.8 percent increase even after … Continue reading

US Labor Market – Looks like the economic heyday of 2000 and 2001, but not for wage growth

Lots of measures are telling us that the United States labor market is doing well. In some cases, very well. Most prominently, the unemployment rate has fallen steadily over the last nine years. It dipped to 3.7 percent in September, and it has averaged 4 percent over the past year, the same as it did … Continue reading

Wages in UK – The typical pay rise for someone switching jobs is, on average, around 2.5 times higher than for someone remaining in the same job

Analysing pay growth for those in continuous employment. Figure 5 does this by showing the median pay rise for those remaining in the same job from year-to-year and those remaining in employment but switching jobs. Typical pay change for people remaining in work over a year Source: RF analysis of ONS, ASHE (post April 2017 … Continue reading

The Future of Work in US – How to fix the broken historical link between labor productivity and wages

In Don’t Fear the Robots: Why Automation Doesn’t Mean the End of Work, Roosevelt Fellow Mark Paul challenges the narrative that large-scale automation will imminently lead to mass unemployment and economic insecurity. He debunks the idea that we are on the cusp of a major technological change that will drastically alter the nature of work, … Continue reading

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