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Tag Archives: Labor

Chart of the WeekEurope’s Wage-Price Puzzle

By Richard Varghese Does higher wage growth fuel inflation? In Europe, that has historically been the case. But the link between wage growth and inflation has weakened in recent years amid low inflation expectations, robust corporate profitability, and strong competitive pressures. The price of labor—namely wages—is rising at a robust pace, especially in the European Union’s newer member states. Yet, surprisingly, inflation has barely risen. We set out to shed light on this puzzle in...

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Chart of the WeekChina’s Digital Dividend

By Longmei Zhang and Sally Chen Digitalization has created millions of new jobs in China, accounting for between one-third and one-half of employment growth in the world’s second-largest economy. Our Chart of the Week shows employment in two sectors: information and communications technology (ICT) and retailing. ICT added 14 million new jobs for high-skilled workers in the five years through 2016, and the average wage doubled. But ICT is just one part of a much larger picture. E-commerce...

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The Long-Term Impact of Brexit on the European Union

By Jiaqian Chen, Christian Ebeke, Li Lin, Haonan Qu, and Jesse Siminitz August 10, 2018 Versions in Español, Français, A container ship entering the Port of Marseille, France: The UK is among the European Union's largest trading partners, accounting for about 13 percent of its trade in goods and services (photo: Gerard Bottino/Newscom) When the United Kingdom leaves the European Union, higher barriers to trade, capital flows, and labor mobility will affect output and jobs not only in...

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Addressing Global Imbalances Requires Cooperation

By Maurice Obstfeld July 24, 2018  Versions in Español, Português Shoppers in London, United Kingdom: excess deficits remain in some advanced economies (photo: Toby Melville). Excess imbalances remain generally unchanged, increasingly concentrated in advanced economies. Their persistence is fueling trade tensions among countries. The configuration of imbalances does not pose an imminent danger. Yet, if unaddressed, it could threaten global stability down the road. We have...

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Technology and the Future of Work

By Adrian Peralta, and Agustin Roitman May 1, 2018  Versions in  عربي (Arabic), Español (Spanish), 日本語 (Japanese), Português (Portuguese), Русский (Russian) Technology impacts how we work (photo: BSIP/Newscom). Many feel anxious about the impact of new technology on their jobs. This is not new. In fact, it dates back at least to the Luddites movement at the outset of the Industrial Revolution. And it resurfaced during the Great Depression and again in the 1960s, following a period of...

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Top Ten Blogs of 2017

By IMFBlog December 28, 2017 Read the top ten blogs of 2017 (photo: Times Square- New York-Pacific Press/SipaUSA/Newscom) We have all had quite the year. Our readers' interests in 2017 focused on topics that affect how people live their lives: why wages are low, rising income and wealth inequality, household debt, climate change, and the scourge of corruption, to name a few. As we wrap up the highs and lows of 2017 and get ready for whatever 2018 has in store, here is the list of the...

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Chart of the Week: Women Workers Wanted in Japan

By IMFBlog November 21, 2017 Version in 日本語 (Japanese) A Japanese mother works at home with her child. Encouraging women to take on full time work and have children would help boost growth in Japan (photo: iStock by Getty Images). Problem: Japan is the most aged society among advanced economies (almost 27 percent of its people are over 65). It also faces a shortage of labor (unemployment is just 2.8 percent). Both limit the country’s growth potential. Solution: Encourage women to...

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Chart of the Week: The Cost of Asia’s Aging

by IMFBlog Versions in 中文(Chinese)  When it comes to tackling demographic change in Asia, there’s no one-size-fits-all strategy for policymakers. In some countries, like Japan, the population is aging rapidly, and the labor force is shrinking. In others, like the Philippines, young people are flooding the job market in search of work. As our chart shows, the impact of aging could potentially drag down Japan’s average annual GDP growth by 1 percentage point over the next three decades....

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Union of Labor and Growth

By IMFBlog John Evans is Head of the Trade Union Advisory Committee to the Organisation for Economic Cooperation and Development, which represents some 65 million organized workers worldwide. In this podcast, he says that the labor market works much like any other market, driven by supply and demand, and the latter is very dependent on how well the economy is doing.  “On the demand side, the labor markets globally haven’t fully recovered from the Great Recession after the [U.S. investment...

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Trade, Labor, and Trust

By iMFdirect “If we’re fighting each other because we can’t design a system that actually works for everybody, then working people will again continue to mistrust our institutions, and the threat to democracy is very real; you see it.” — Sharan Burrow Burrow is General Secretary of the International Trade Union Confederation, and in this podcast she says collective action is needed to help better distribute the benefits of growth. As head of the world’s largest trade union federation, Burrow...

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