Wage Growth

Wages are rising at near-record rates because workers are in short supply even though the economy is headed into recession

Weaker economic growth is unlikely to help much in the near term, particularly as a shortage of skilled labor encourages businesses to retain workers and pay them well.

The growth in nominal terms has been steady but the sharp rise in inflation seems to have eaten into the increase

Public-sector wages are on track to increase 5% this year, around half the current rate of inflation but higher than budgeted when spending plans were drawn up in 2021.

Mission Kushal Karmi, launched by Delhi govt in July, aims to train 200,000 workers in one year

The impact would be lower for producers of quality tea, given the price premium they enjoy over the average market realisations, Icra said in a report.

Asserting that capitalism without competition has no meaning, US President Joe Biden has signed an executive order aimed at promoting competition among companies to lower prices and increase wages

IT industry's margins are expected to be impacted by wage increases as well as high attrition rate, said HDFC Securities.

But, its momentum could be petering out well before the recovery is complete

Ashu Suyash, the MD and CEO of the agency, said it has done an analysis of 40,000 companies having a collective wage bill of Rs 12 trillion, which revealed the grim situation.

Performance review likely to see some retrenchments

Even in India, labour problem is low down on an entrepreneur's wish list. Corruption of labour inspector is quoted as a reason.

But inflation may play a spoiler as real-wage salaries in the country is anticipated to be just 5 per cent

An industry wage pact is a bizarre performance appraisal as the benchmark for such a pact is the paying capacity of the weakest of banks

The principal demand impetus for growth comes from the bottom half of income distribution

The latest global wage report from the United Nations agency also found that women worldwide continue to be paid about 20 per cent less than men