As expected, Colorado's minimum wage will fall because of lower cost of livingOctober 13th, 2009 Colo. minimum wage to drop as living costs fallDENVER — Colorado officials say the state will become the first to lower its minimum wage because of a falling cost of living. The state Department of Labor and Employment has ordered the wage to drop to $7.24 from $7.28, effective Jan.
No wage cut without consulting employees: Praful PatelSeptember 29th, 2009 NEW DELHI - Civil Aviation Minister Praful Patel Tuesday urged Air India pilots to give up their agitation and report back to work, and assured them that any decision regarding wage cuts would be taken after consulting them. "No formal decision regarding cut in productivity linked incentives (PLI) or others has been taken.
Summary Box: Productivity, factory orders increase in latest hopeful signs of recession's endSeptember 2nd, 2009 Summary Box: Productivity, factory orders riseMORE STRONG NUMBERS: Productivity in the second quarter posted its best showing since 2003, while cost-cutting by companies pushed labor costs down by the most in nine years. A separate report showed factory orders climbed in July, the fifth gain in six months.
Productivity rises at fastest pace in nearly 6 years, while labor costs plunge in springSeptember 2nd, 2009 Productivity up 6.6 percent in 2Q, most in 6 yearsWASHINGTON — Worker productivity, the single biggest factor determining living standards, grew at the fastest pace in nearly six years in the spring while labor costs fell by the most in nine years, as companies slashed costs to survive the recession. Increases in productivity can help boost living standards because companies can increase wages financed by rising output.
Productivity jumps in spring on cost cuts, but stronger consumer demand needed for recoverySeptember 2nd, 2009 Productivity gains in 2Q due mainly to cost cutsWASHINGTON — Companies managed to boost their workers' productivity and their own profits in the spring mainly by slashing costs and capping their employees' pay. That was clear from revised government figures released Wednesday that provided further evidence that a tentative economic recovery has begun, while also reinforcing nagging concerns.
Newspapers' 2Q advertising sales plummet 29 percent, reducing revenue by $2.8B from last yearAugust 27th, 2009 Newspaper slump deepens as 2Q ad sales fall 29 pctWASHINGTON — Newspaper advertising sales shrank by another $2.8 billion in the second quarter, a 29 percent decline from the same time last year. The numbers released Thursday by the Newspaper Association of America show the industry's financial woes deepened in the April-June period.
Productivity surges in 2nd quarter at fastest rate in almost 6 years while labor costs plungeAugust 11th, 2009 Productivity rises in 2Q while labor costs plungeWASHINGTON — Productivity surged in the spring by the largest amount in almost six years while labor costs plunged at the fastest pace in nine years. The results point to a recession losing steam, but they do not bode well for the unemployed or those forced to work shorter weeks who were hoping for more hours.
Productivity likely surged by sizable amount in spring as businesses worked to hold down costsAugust 10th, 2009 Ahead of the Bell: ProductivityWASHINGTON —Productivity likely surged by a sizable amount in the spring as businesses worked to hold down costs in the face of the worst recession to hit the country in the post World War II period. Economists surveyed by Thomson Reuters expect productivity grew at an annual rate of 5.3 percent in the April-June quarter.
Employment costs rise by lowest amount on record for 12 months ending in JuneJuly 31st, 2009 Employment costs rise 1.8 pct in past 12 monthsWASHINGTON — Employment compensation for U.S. workers has grown over the past 12 months by the lowest amount on record, reflecting the severe recession that has gripped the country.
Labor Sec'y Solis says minimum wage hike will boost consumer spending by $5.5 billionJuly 23rd, 2009 Labor secretary says wage hike will boost spendingWASHINGTON — Labor Secretary Hilda Solis says this week's increase in the minimum wage will generate an extra $5.5 billion in consumer spending over the next year. The federal minimum wage increases by 11 percent on Friday, from $6.55 to $7.25 an hour.
Air India looking at pruning incentives to overcome lossesJuly 18th, 2009 NEW DELHI - Cash-strapped state-run carrier Air India is reworking the employees' productivity-linked incentive (PLI) scheme as part of its restructuring plan. PLI accounts for almost half of the company's Rs.3,000 crore wage bill.
Productivity increases more than expected in 1st-qtr, as layoffs rise faster than output fallsJune 4th, 2009 Productivity increases more than expected in 1QWASHINGTON — U.S. workers were more productive in the first quarter than previously estimated, the government said Thursday, as rapid layoffs meant companies were forced to make do with fewer employees.
New jobless claims unexpectedly plunge to 601,000; lowest level since JanuaryMay 8th, 2009 New jobless claims unexpectedly plunge to 601,000WASHINGTON — New applications for jobless benefits plunged to the lowest level in 14 weeks, a possible sign that the massive wave of layoffs has peaked. Still, the number of unemployed workers getting benefits climbed to a new record.
New jobless claims unexpectedly plunge to 601,000; lowest level since JanuaryMay 8th, 2009 New jobless claims unexpectedly plunge to 601KWASHINGTON — New applications for jobless benefits plunged to the lowest level in 14 weeks, a possible sign that the massive wave of layoffs has peaked. Still, the number of unemployed workers getting benefits climbed to a new record.
Japanese firm gives tips to textile industry to fight recessionApril 10th, 2009 BANGALORE - People associated with textile industry received tips to fight recession from a Japanese company at a seminar held in Bangalore. The industrial sewing giant from Japan, Juki, has set up its Indian head quarter in Bangalore.
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