UK’s teachers and civil servants join mass strike on ‘Walkout Wednesday’

Up to 500,000 people expected to join UK strikes Government says big pay rises will fuel inflation Schools shut, most trains not running More strikes involving health workers due next week LONDON, Feb 1 (Reuters) – Up to half a million British teachers, civil servants, and train drivers walked out over pay in the largest … Read more

Intel slashes employee, exec pay amid PC market downturn

Jan 31 (Reuters) – Intel Corp (INTC.O) said on Tuesday that it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn. The reductions will range from 5% of base pay for … Read more

US labor cost growth smallest in a year; labor persistently tight

The employment cost index rises 1.0% in the fourth quarter Wages, salaries increase 1.0%; up 5.1% year-on-year Consumer confidence index drops to 107.1 in January House price inflation slows further in November WASHINGTON, Jan 31 (Reuters) – US labor costs increased at their slowest pace in a year in the fourth quarter as wage growth … Read more

Exclusive: ECB union says staff losing faith in leadership over inflation, pay

40% of ECB staff have low or no trust Two-thirds say confidence is damaged 63% worried about the ECB’s ability to protect purchasing power FRANKFURT, Jan 18 (Reuters) – (This Jan. 17 story has been corrected to restore the dropped words in paragraph 11) European Central Bank staff are losing confidence in the institution’s leadership … Read more

Twitter’s laid-off workers asked to drop lawsuit over severance, judge rules

Jan 14 (Reuters) – Twitter Inc has secured a ruling allowing the social media company to force several laid-off workers suing over their termination to pursue their claims via individual arbitration rather than a class-action lawsuit. US District Judge James Donato on Friday ruled that five former Twitter employees pursuing a proposed class action accusing … Read more

UK jobs market softens again in December – REC

LONDON, Jan 10 (Reuters) – Britain’s labor market cooled further in December, according to a survey of recruiters published on Tuesday that may ease some of the Bank of England’s concerns about the risks of longer-term inflation pressure. The monthly index of vacancies, compiled by the Recruitment and Employment Confederation trade body and accountants KPMG, … Read more

The US jobs report breathes life into the Fed’s ‘soft landing’ scenario

NEW ORLEANS/SAN FRANCISCO, Jan 6 (Reuters) – A jump in the workforce and easing wage growth suggests the US job market is starting to move the way the Federal Reserve has hoped it will, to bring the supply and demand for workers into better balance and help in its battle against inflation. After a year … Read more

Erdogan drops retirement age requirement for millions of Turks

ANKARA, Dec 28 (Reuters) – Turkish President Tayyip Erdogan eliminated a retirement age requirement on Wednesday in a move that allows more than 2 million workers to retire immediately, less than six months before an election. The presidential announcement came during a Wednesday news conference on the popular policy move. Erdogan’s ruling AK Party delivered … Read more

Japan govt revises up fiscal 2023 growth forecast on higher capex, wages

FY2023 GDP estimate +1.5% vs July f’cast of +1.1% FY2023 CPI estimate unchanged at +1.7% FY2022 GDP down to +1.7%, CPI up to +3.0% TOKYO, Dec 22 (Reuters) – Japan’s government revised up on Thursday its growth forecast for the next fiscal year on prospects for higher business expenditure and substantial wage hikes that are … Read more

Analysis: Opaque energy prices muddy euro inflation picture

AMSTERDAM/ROME, Dec 21 (Reuters) – Statistics offices across the euro zone are looking to revise the way they build retail energy prices into their official inflation calculations to avoid overstating the true hit to consumers, officials told Reuters. Millions of European households have experienced sharply different impacts on their power bills this year depending on … Read more