Last year, Swiss nominal wages recorded an average increase of 0.7% over 2015. For the fifth consecutive year, the increase remained below the 1% threshold. In majority, the economic sectors marked a real increase in wages favored by 0.4% negative inflation. By comparison, the wages increases, negotiated in 2016 by the main labor organizations, referred to almost half a million employees, was 0.4%.
One again, Switzerland again ranked No. 1 on the list, according to the 2017 Global Talent Competitiveness Index 2015-16, released by INSEAD, the France-based business school for the world. The research is produced in partnership with the Adecco Group and the Human Capital Leadership Institute of Singapore. Essentially, the report argued that while tech advancements will continue to disrupt the workplace and displace jobs, new opportunities will also be created. High ranking countries share key traits, according to INSEAD.
Japanese transportation service group Yamato said Tuesday it will pay about 47,000 employees 19 billion yen ($175 million) in unpaid overtime for the past two years. The delivery company admitted that many of its drivers had to work long hours, including overtime without pay, a chronic situation due to a surge in parcel delivery demand in line with rapid growth in the e-commerce industry.
The number of Americans filing for unemployment benefits decreased more than expected last week, hitting the lowest level over the past five weeks, official figures revealed on Thursday. The US Department of Labour reported initial jobless claims fell 25,000 to a total of 234,000 in the week ended April 1, down from the preceding week's upwardly revised reading of 259,000. This was the biggest weekly decline since April 2015. Meanwhile, market analysts expected unemployment claims to plunge only 251,000 during the reported week. The number of job-seeking persons decreased from 2,052,000 to 2,028,000, thus, affecting the moving average, which hit its lowest level since June 2000. At the same time, the seasonally adjusted insured unemployment rate of 1.5% remained unchanged from last week. In general, the fact that jobless claims have been fluctuating around 260,000 for more than two years, indicating that the US has a healthy labour market. In addition, the largest spike in unemployment claims was recorded in New York, Texas, Massachusetts, Pennsylvania and California, while the largest drop in unemployment happened in Ohio, Kansas, Missouri, Illinois and Kentucky.
According to the State Secretariat for Economic Affairs (SECO) surveys, 152,280 unemployed persons were registered at the Regional Employment Services Centers (RAV) at the end of March 2017, 7,529 less than in the previous month. The unemployment rate thus fell from 3.6% in February 2017 to 3.4% in the reporting month. Compared to the previous month, unemployment fell by 3,044 (-2.0%). Youth unemployment (15 to 24 year olds) in March 2017 decreased by 1,545 persons (-8.1%) to 17,563. Compared to the previous year, this corresponds to a decrease of 1'344 persons (-7.1%).
The UK's unemployment rate has fallen to its lowest since the summer of 1975, with a record number of people in work: the Office for National Statistics (ONS) said the unemployment rate fell to 4.7% . Other figures published on Wednesday showed that unemployment fell by 31,000 in the three months to January, to 1.58 million, the lowest for a decade, giving a jobless rate of 4.7%, the lowest since the summer of 1975.
The European Court of Justice (ECJ) ruled on Tuesday that employers can ban staff from wearing visible religious symbols, including headscarves. "An internal rule of an undertaking [firm] which prohibits the visible wearing of any political, philosophical or religious sign does not constitute direct discrimination," the court said. The ECJ was ruling on a case dating to 2003 when Samira Achbita, a Muslim, was employed as a receptionist by G4S security services in Belgium. At the time, the company had an "unwritten rule" that employees should not wear any political, religious or philosophical symbols at work, the ECJ said.
The headline Swiss unemployment rate declined to 3.6% for February from 3.7% the previous month. The rate was unchanged from the 3.6% recorded in February 2016. The seasonally-adjusted rate was unchanged at 3.3% for the month and there has been no change in the adjusted rate for nine months. Youth unemployment, which applies to the 15 to 24 age group, declined 6.7% on the year which will help boost confidence in the labour market. The stock of vacancies declined significantly on the month, although there was still a small 0.3% increase on the year and there was a significant increase in new reported vacancies on the month which is also an encouraging sign.
Nestlé Austria has announced plans to close its production facility in Linz by March 2018, as part of an 'ongoing evaluation' of its portfolio. The factory, which has been operating for nearly 140 years with an output of roughly 6,000 tonnes of food products, has been effected by changing consumer trends which have affected demand. The factory in Linz specialised in products for its business to business division. On 7 March, the management informed the plant's 127 employees of the decision, and is collaborating with the Works Council and employee representatives to find 'socially acceptable solutions'.
General Motors will cut production and eliminate 1,100 workers at a plant in Michigan as it shifts production of a sport utility vehicle model to another factory in Tennessee. Most are hourly workers, with about 14 salaried. The Lansing Delta Township plant will cease output of GMC Acadia SUVs on May 12, Tom Wickham. About 800 new jobs were created in that state as a result - and GM announced in January that it was adding a third shift in Spring Hill.
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The Responsible Finance Institute (RFI) Foundation and the Swiss Arab Network organize the RFI Summi
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