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Page 2 - Wages

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

Daily wages paid under MGNREGA not adequate, says Parliamentary panel
Updated On : 08 Feb 2024 | 9:00 PM IST

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

Wage hike provisions to reach Rs 26,000 cr by March: State Bank of India
Updated On : 04 Feb 2024 | 1:20 PM IST

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

Real wage growth positive for 2nd straight year in 2022: ILO study
Updated On : 10 Jan 2024 | 10:43 PM IST

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

IBA signs MoU with unions on pay revision; okays 17% hike for 5 years
Updated On : 08 Dec 2023 | 8:51 PM IST

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

At 48 hours a week, Indians 6th most hardworking globally: ILO data
Updated On : 05 Nov 2023 | 11:16 PM IST

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

United Auto Workers union reaches tentative agreement with Mack Trucks
Updated On : 02 Oct 2023 | 7:06 PM IST

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

Labour market shows progress in key areas but challenges remain: Report
Updated On : 20 Sep 2023 | 6:47 PM IST

US job growth picks up more than expected in August; wages gains slow

The economy needs to create roughly 100,000 jobs per month to keep up with the increase in the working-age population

US job growth picks up more than expected in August; wages gains slow
Updated On : 01 Sep 2023 | 6:53 PM IST

US adds 187,000 jobs, unemployment rate unexpectedly drops to 3.5%

US employment increased at a solid pace in July while wages rose at a faster-than-expected clip, consistent with sustained labor demand that's at the root of renewed momentum in the economy

US adds 187,000 jobs, unemployment rate unexpectedly drops to 3.5%
Updated On : 04 Aug 2023 | 10:56 PM IST

Wages are finally rising in Japan, as inflation eats away at consumer gains

Wages are rising in Japan more than they have in decades, at least for some workers. But so are prices, leaving many people feeling they must scrimp more than ever. In May, the consumer price index was up 3.2 per cent from a year earlier, well above the central bank's target of about 2 per cent. That's great news for policymakers trying to get the world's third largest economy out of the doldrums by keeping credit super cheap to spur demand and push prices higher. But a government survey of companies with five or more employees found real wages, taking into account higher prices, fell 3 per cent from the a year earlier in April, marking the 13th straight month of declines. Although all the major companies have raised wages this year, with large labour union members landing a 4 per cent hike, the highest in 30 years, a quarter of small and medium-size businesses employers of more than two-thirds of all workers gave no pay raises, according to the think tank Tokyo Shoko Research. M

Wages are finally rising in Japan, as inflation eats away at consumer gains
Updated On : 19 Jun 2023 | 12:22 PM IST

UK wages rise sharply in April, set to bolster expectations of rate hike

Wages in the U.K. spiked sharply in April, official figures showed Tuesday, a development that is set to cement expectations that the Bank of England will raise interest rates once again next week. The Office for National Statistics found that people's regular pay packets, which exclude bonuses, were up 7.2% in the three months to April from the same period the year before, as against the equivalent 6.6% increase recorded in January. The spike, which was largely due to a near-10% increase in the minimum wage at the start of April, was the highest on record other from when the figures were distorted by the coronavirus pandemic. Though wages are still lagging the headline rate of inflation, which at the last count stood at 8.7%, the increase is likely to feature heavily in next week's deliberations among rate-setters at the Bank of England. Higher wages raise the prospect of more spending in the economy, which can fuel price rises. Hannah Slaughter, senior economist at the Resolution

UK wages rise sharply in April, set to bolster expectations of rate hike
Updated On : 13 Jun 2023 | 2:37 PM IST

Coal India agrees on 25% hike in allowances for non-executive workers

State-owned Coal India Ltd (CIL) on Monday said it has reached an agreement with its 2.38 lakh strong non-executive workers over the revision of wages. Under the agreement reached, a 19 per cent minimum guaranteed benefit from July 1, 2021, on emoluments (basic, VDA, SDA & attendance bonus) and a 25 per cent increase in allowances have been granted, Coal India said in a filing to exchanges. "The Joint Bipartite Committee for the Coal Industry (JBCCI)-XI consisting of representatives of CIL management, Singareni Collieries Company Limited (SCCL), five central trade unions i.e. BMS, HMS, AITUC, CITU and Indian National Mine Workers' Federation (INMF) on May 20, 2023, recommended and inked National Coal Wage Agreement (NCWA)-XI for the period of five years w.e.f. 01.07.2021," the miner said. Around 2.81 lakh employees of CIL & SCCL who were on the rolls of the company as on July 1, 2021, would be the beneficiaries post-implementation of the agreement. Further, CIL has made a ...

Coal India agrees on 25% hike in allowances for non-executive workers
Updated On : 22 May 2023 | 5:40 PM IST

State-owned Coal India expects to conclude wage agreement within a month

State-owned Coal India Ltd (CIL) on Wednesday said it is expecting to conclude the wage agreement (NCWA-XI) within a month, which would benefit its 2.38 lakh strong non-executive workers. Wages of the non-executive workers, which account for 94 per cent of Coal India's workforce, are revised every five years. The hike is due from July 2021. In 2017, CIL signed a wage agreement with worker unions proposing a 20 per cent hike in salaries for five years. In a statement, CIL said, "It is hoping to conclude the eleventh version of the national coal wage agreement (NCWA-XI), within a month, benefitting its 2.38 lakh strong non-executive manpower. The next round of talks is scheduled on May 19, 2023." The company further said that the proposal has had a "telling effect" on its profit after tax (PAT) in the fourth quarter of FY23 and excluding the provision on wage cost due to NCWA-XI, the company's PAT during January-March FY23 would have been around Rs 9,920 crores, an all-time high for a

State-owned Coal India expects to conclude wage agreement within a month
Updated On : 10 May 2023 | 9:51 PM IST

Ugandan minister shot dead by his bodyguard over wage issue: Report

A bodyguard shot and killed a government minister in Uganda early Tuesday in an apparent private dispute, according to local media. The victim, Charles Engola, served in the government of President Yoweri Museveni as the junior minister in charge of labour. He was a retired army colonel. The attacker, who has not been publicly identified, then shot himself, according to state broadcaster UBC and others. The shooting took place inside Engola's home in a suburb of the Ugandan capital, Kampala. Police detectives are now at the crime scene. The motive was not immediately clear, but the local press said there had been an apparent dispute over the guard's wages. Witnesses claim that the soldier was yelling that he had not been paid for a long time despite working for a minister, the online newspaper NilePost reported. The incident is likely to send shockwaves in a country where other high-profile officials have been killed in gun attacks over the years. In 2021, a former army chief in

Ugandan minister shot dead by his bodyguard over wage issue: Report
Updated On : 02 May 2023 | 2:27 PM IST

Gap between private and public sector wage bills widens in 2022-23

The wage bill of the private sector was 12.7 per cent in the FY22, compared to 11.8 per cent for the public sector

Gap between private and public sector wage bills widens in 2022-23
Updated On : 28 Apr 2023 | 11:29 AM IST

Samsung's unionised workers to bring wage dispute to govt arbitration panel

The unionized workers, which accounted for around 7.4 per cent of the total 121,000 workers, have engaged in wage negotiations with the management since late December

Samsung's unionised workers to bring wage dispute to govt arbitration panel
Updated On : 21 Apr 2023 | 8:09 PM IST

Transition to vulnerable employment subsides in recent years: Report

Fewer distress-induced job transitions occurred in Q2CY2021, and only around 20 per cent of salaried and self-employed workers transitioned either into casual-wage work or exited the labour force

Transition to vulnerable employment subsides in recent years: Report
Updated On : 05 Apr 2023 | 11:48 AM IST

MGNREGS pay still below minimum wage in several states, shows data

Gap remains despite a hike of up to 10.4% notified by the Centre for the coming financial year

MGNREGS pay still below minimum wage in several states, shows data
Updated On : 26 Mar 2023 | 10:01 PM IST

Conflict and inflation: Indian realities

Policymakers must be wary of using frameworks tailored by rich countries to address rich country problems when crafting India's inflation-control strategy

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Updated On : 12 Jan 2023 | 10:42 PM IST

Uniqlo parent Fast Retailing Co gives jolt to Japan Inc with 40% wage hike

The move by the firm is likely to heighten focus on worker pay ahead of annual spring labour negotiations

Uniqlo parent Fast Retailing Co gives jolt to Japan Inc with 40% wage hike
Updated On : 12 Jan 2023 | 12:46 AM IST