The 2014/15 edition examines the link between wages and inequality at the household level. It shows that wages constitute the largest single source of income for households with at least one member of working age in most countries and points to changes in wages and paid employment as key factors underlying recent trends in inequality. The report also considers wage gaps between certain groups, such as those between women and men, migrants and nationals, and workers in the informal and formal economy.
Inequality can be addressed through policies that affect wage distribution directly or indirectly, as well as through fiscal redistribution. However, increasing inequality in the labour market places a heavier burden on efforts to reduce inequality through taxes and transfers. The report thus emphasizes the need for combined policy action that includes minimum wages, strengthened collective bargaining, interventions to eliminate wage gaps, the promotion of paid employment and redistribution through taxes and transfers.
More than six years have passed since the subprime mortgage crisis began in the US in the summer of 2007. In the following year, it spread to the entire world economy. Its consequences have not been fully overcome yet. Thus it’s not surprising that economists’ attention has been largely devoted to short-term, crisis-related issues like financial deleveraging and repairing the balance sheets of governments, corporations and households. For the macroeconomic policy debate, this means concentrating on demand management by using monetary and fiscal policy tools in order to return to a pre-crisis growth path. Rarely has the question been asked of whether or not this is a realistic goal, i.e., whether post-crisis growth can return to pre-crisis levels. An analysis of growth perspectives in the medium-to-longterm calls for using the neo-classical growth theory, according to which there are three factors at play: labor, capital and total factor productivity (TFP). In this brief we will try to figure out what their expected dynamics are and how much each of them can contribute to economic growth in the foreseeable future.
Authored by: Marek Dabrowski
Published in 2013
More than six years have passed since the subprime mortgage crisis began in the US in the summer of 2007. In the following year, it spread to the entire world economy. Its consequences have not been fully overcome yet. Thus it’s not surprising that economists’ attention has been largely devoted to short-term, crisis-related issues like financial deleveraging and repairing the balance sheets of governments, corporations and households. For the macroeconomic policy debate, this means concentrating on demand management by using monetary and fiscal policy tools in order to return to a pre-crisis growth path. Rarely has the question been asked of whether or not this is a realistic goal, i.e., whether post-crisis growth can return to pre-crisis levels. An analysis of growth perspectives in the medium-to-longterm calls for using the neo-classical growth theory, according to which there are three factors at play: labor, capital and total factor productivity (TFP). In this brief we will try to figure out what their expected dynamics are and how much each of them can contribute to economic growth in the foreseeable future.
Authored by: Marek Dabrowski
Published in 2013
This report draws on over 10,000 interviews with business leaders as well as economic forecast data to better understand the growth opportunities and challenges facing dynamic companies over the next 12 months.
The World Economic Situation and Prospects 2014 reports that the global economy is improving but remains vulnerable to new and old headwinds. Global economic growth is forecast to accelerate from a sluggish 2.1 per cent in 2013 to 3.0 per cent in 2014 and 3.3 per cent in 2015. The report warns of the risks associated with the upcoming unwinding of quantitative easing programs in major developed economies.
For more information: http://bit.ly/WESP
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
World Economic Situation and Prospects 2013Daniel Dufourt
ONU - World Economic Situation and Prospects 2013
United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions
(Economic Commission for Africa (ECA), Economic Commission for Europe (ECE), Economic Commission for
Latin America and the Caribbean (ECLAC), Economic and Social Commission for Asia and the Pacific (ESCAP) and
Economic and Social Commission for Western Asia (ESCWA)).
ONU, 2013, 207 pages
What is the outlook for the global economy in 2014 and beyond? Get the latest figures and updates on current trends in the first chapter of the World Economic Situation and Prospects (WESP) 2014: The global economic outlook released on 18 December 2013.
For more information: http://bit.ly/WESP
The programme introduces the joint views of the two employee federations, SAK and STTK, on the basis of which Finland will be able to promote economic growth and create decent jobs. This will enhance the ability to finance the welfare state and to promote social cohesion in Finland.
Central Organisation of Finnish Trade Unions SAK and Finnish Confederation of Professionals STTK.
8th January 2013
Global economies are witnessing two-speed recovery with the US economy showing firm signs of recovery, while growth in Euro Area still languishing in sub-optimal territory. Among the Asian economies, growth in Japan and China too continues to remain tepid. We discuss this in detail in the section on Global Trends in this month’s issue of Economy Matters. In the section on Domestic Trends, we analyze that the economic condition in the present scenario is in greater disarray than it was during the breakout of the global financial crisis of 2008-09, when both government as well as the RBI were quick to respond to the challenges and brought the economy back to recovery path within no time. In Corporate Performance, we examine the sectoral performance in the last fiscal in order to find the sectors which were badly hit in the wake of the current bout of economic crisis. The Sectoral spotlight for this issue is on Agriculture, a traditionally important sector of the Indian economy because of its enormous contribution in being the provider of basic source of livelihood to the most of the population in India. However in the recent past various challenges such as low agricultural yield, declining share of public investment, and lack of technological advancements have plagued the sector. We discuss the sector’s challenges and suggest measures to bolster its output. In the Special Article, we discuss India's deteriorating external position in the last few years, manifesting itself in a steady deterioration in the current account which slipped from a surplus at the start of the last decade to a huge deficit of 4.8 per cent in 2012-13. Bulk of the deterioration in current account is attributable to the sharp rise in merchandise trade deficit over the last decade. Ultimately, for India to contain its current account deficit at a more sustainable level of 2.0-2.5 per cent of GDP, it is essential that we ensure competitiveness of our goods and services, so that our imports are contained and exports boosted.
The boom becomes less pronounced but continues. This year, the growth of exports will not reach the peak figures of last year but the growth will to some extent pick up speed again in next year. The quickly decreased unemployment rate will continue to drop. An analysis of long-term employment growth by age group shows that positive employment growth is concentrated on the one hand on younger employees and, on the other hand, older employees, whereas the employment rate of men aged 25–34 is growing smaller. The government budget policy is too expansive, given the economic situation.
The first chapter of the Survey contains an examination of the macroeconomic performance of and outlook for the Asia-Pacific region, analyzing the implications of some of the economic challenges that the region is facing. It also contains a discussion on several policy options, with emphasis on the importance of fiscal policy. The chapter also includes an examination of the impact of the recent economic slowdown in the Asia Pacific region in terms of its effects on poverty, inequality and employment prospects, along with challenges posed by an expanding middle class and rapid urbanization. In the second chapter, the diversity of the region is considered by providing a more disaggregated analysis of economic issues and challenges that each of the five sub regions is facing. In doing so, a distinct issue is the focus for each sub region, which provides an opportunity for increased understanding of a variety of experiences and policy considerations. Finally, the third chapter contains analyses on the importance of productivity in the Asia-Pacific region and a set of policy recommendations on how to strengthen productivity growth.
A detailed analysis of the prospects for the UK economy in 2012 from Geoff Riley at tutor2u. Among the key themes explored by Geoff are:
Are we already back in recession?
A damaging legacy from the slump
Have policies lost their effectiveness?
Macro fragility in a world of external shocks
This report draws on over 10,000 interviews with business leaders as well as economic forecast data to better understand the growth opportunities and challenges facing dynamic companies over the next 12 months.
The World Economic Situation and Prospects 2014 reports that the global economy is improving but remains vulnerable to new and old headwinds. Global economic growth is forecast to accelerate from a sluggish 2.1 per cent in 2013 to 3.0 per cent in 2014 and 3.3 per cent in 2015. The report warns of the risks associated with the upcoming unwinding of quantitative easing programs in major developed economies.
For more information: http://bit.ly/WESP
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
World Economic Situation and Prospects 2013Daniel Dufourt
ONU - World Economic Situation and Prospects 2013
United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions
(Economic Commission for Africa (ECA), Economic Commission for Europe (ECE), Economic Commission for
Latin America and the Caribbean (ECLAC), Economic and Social Commission for Asia and the Pacific (ESCAP) and
Economic and Social Commission for Western Asia (ESCWA)).
ONU, 2013, 207 pages
What is the outlook for the global economy in 2014 and beyond? Get the latest figures and updates on current trends in the first chapter of the World Economic Situation and Prospects (WESP) 2014: The global economic outlook released on 18 December 2013.
For more information: http://bit.ly/WESP
The programme introduces the joint views of the two employee federations, SAK and STTK, on the basis of which Finland will be able to promote economic growth and create decent jobs. This will enhance the ability to finance the welfare state and to promote social cohesion in Finland.
Central Organisation of Finnish Trade Unions SAK and Finnish Confederation of Professionals STTK.
8th January 2013
Global economies are witnessing two-speed recovery with the US economy showing firm signs of recovery, while growth in Euro Area still languishing in sub-optimal territory. Among the Asian economies, growth in Japan and China too continues to remain tepid. We discuss this in detail in the section on Global Trends in this month’s issue of Economy Matters. In the section on Domestic Trends, we analyze that the economic condition in the present scenario is in greater disarray than it was during the breakout of the global financial crisis of 2008-09, when both government as well as the RBI were quick to respond to the challenges and brought the economy back to recovery path within no time. In Corporate Performance, we examine the sectoral performance in the last fiscal in order to find the sectors which were badly hit in the wake of the current bout of economic crisis. The Sectoral spotlight for this issue is on Agriculture, a traditionally important sector of the Indian economy because of its enormous contribution in being the provider of basic source of livelihood to the most of the population in India. However in the recent past various challenges such as low agricultural yield, declining share of public investment, and lack of technological advancements have plagued the sector. We discuss the sector’s challenges and suggest measures to bolster its output. In the Special Article, we discuss India's deteriorating external position in the last few years, manifesting itself in a steady deterioration in the current account which slipped from a surplus at the start of the last decade to a huge deficit of 4.8 per cent in 2012-13. Bulk of the deterioration in current account is attributable to the sharp rise in merchandise trade deficit over the last decade. Ultimately, for India to contain its current account deficit at a more sustainable level of 2.0-2.5 per cent of GDP, it is essential that we ensure competitiveness of our goods and services, so that our imports are contained and exports boosted.
The boom becomes less pronounced but continues. This year, the growth of exports will not reach the peak figures of last year but the growth will to some extent pick up speed again in next year. The quickly decreased unemployment rate will continue to drop. An analysis of long-term employment growth by age group shows that positive employment growth is concentrated on the one hand on younger employees and, on the other hand, older employees, whereas the employment rate of men aged 25–34 is growing smaller. The government budget policy is too expansive, given the economic situation.
The first chapter of the Survey contains an examination of the macroeconomic performance of and outlook for the Asia-Pacific region, analyzing the implications of some of the economic challenges that the region is facing. It also contains a discussion on several policy options, with emphasis on the importance of fiscal policy. The chapter also includes an examination of the impact of the recent economic slowdown in the Asia Pacific region in terms of its effects on poverty, inequality and employment prospects, along with challenges posed by an expanding middle class and rapid urbanization. In the second chapter, the diversity of the region is considered by providing a more disaggregated analysis of economic issues and challenges that each of the five sub regions is facing. In doing so, a distinct issue is the focus for each sub region, which provides an opportunity for increased understanding of a variety of experiences and policy considerations. Finally, the third chapter contains analyses on the importance of productivity in the Asia-Pacific region and a set of policy recommendations on how to strengthen productivity growth.
A detailed analysis of the prospects for the UK economy in 2012 from Geoff Riley at tutor2u. Among the key themes explored by Geoff are:
Are we already back in recession?
A damaging legacy from the slump
Have policies lost their effectiveness?
Macro fragility in a world of external shocks
United Nations Peacebuilding Fund (PBF) Guidelines on application and use of...Dr Lendy Spires
These guidelines are an update of the original Peacebuilding Fund (PBF) Application Guidelines, approved by the General Assembly in June 2009 and first published in October 2009 following a revision of the Terms of Reference of the Peacebuilding Fund (A/63/818).
Much experience has been gained since the original guidelines were published and this version seeks to incorporate those lessons. In addition, the first PBF global workshop was held in July 2013 in Cape Town, resulting in an exchange of lessons and comments on the previous version of the Guidelines from colleagues and partners in the field.
Furthermore, helpful comments were received from the UNDP’s Multi Partner Trust Fund Office (MPTF-O), the PBF’s Administrative Agent, and other key partners in the UN system via consultations at headquarters (PCG). These guidelines are intended to provide users with basic information on the PBF, especially on applying for, using and reporting on the funds. The primary users are intended to be the potential Fund users (UN agencies in the field) and Fund oversight agencies (members of the Joint Steering Committees etc). The guidelines are web-based and accessible directly through the PBF website (www.unpbf.org). They are accompanied by various templates that are to be used for eligibility and budget requests related to the Immediate Response and Peacebuilding Recovery Facilities, as well as for monitoring and reporting.
Since the beginning of time there have been conflicts and wars. They have usually been solved through the defeat and surrender of one of the parties and subsequent peace talks and agreements, as a rule enacted by male political and military leaders. "e vast majority of the population has generally been excluded from these processes that decided on their future – without a doubt, a truly undemocratic approach. Over the past decade, however, we have witnessed two parallel developments thanks to which the old set of values traditionally applied to peace-making is gradually coming unhinged.
One is the trend towards more comprehensive conflict resolution and peace processes that embrace a multitude of stakeholders and issues. In this context, mediation has become one of the main focuses of international efforts to settle conflicts in a peaceful way, taking into account the complexities and peculiarities of the conflict situations. "e other development started with the unanimous adoption in the year 2000 of Resolution 1325 by the United Nations Security Council (UNSCR), which recognized that women, who make up half of the world’s population, are in many ways affected by wars and conflicts differently from men and that the international legal framework on gender equality has to be extended to the areas of conflict resolution and peace-building.
Since then we have seen an ever broadening agenda on Women, Peace and Security, with five follow-up resolutions to UNSCR 1325 and multiple national and international efforts to implement resultant commitments. "ere is increasing agreement that women’s perspectives are crucial for a full understanding of the impact of a conflict and that taking into account women’s conflict experience is essential to establishing lasting peace. Including women in peace talks creates a different dynamic and their contribution, not limited to so-called “women’s issues”, will influence the broader mediation agenda. Adding women in peace processes gives them greater legitimacy as it offers solutions to a broader segment of society.
T'his policy paper demonstrates how LDC women's concerns are to be integrated into AID's program. Other policy papers recognize various roles LDC women play. For example, the Food and Agriculture paper highlights women as agricultural producers, farm laborers and family food providers, and recommends an expansion of their opportunities in the food-related and agriculture fields.
The Water and Sanitation paper recognizes women's stake in the provision of clean water and sanitation for the community. The Nutrition paper points out that since women's income is most likely to go toward food for her family, improving nutrition through increased in-come generation should focus on women.
The Private Enterprise paper establishes four priorities for AID's investment (agriculture, agribusiness, small scale industries and private sector service enterprises), all of which are important areas for women's involvement. But, unlike most of AID's policy statements, the Women in Development Policy is cross-sectoral; it is meant to provide the policy framework and overall practical guidance for each sector and for the Agency as a whole in its efforts to incorporate women into the total development process. I.
Summary of AID Women in Development Policy
(1) AID will take into account the actual and potential roles of LDC women in carrying out its development assistance program. This will be done in all AID's country strategies and projects in order to ensure achievement of development goals, through:
a. overall country programs and individual project designs which reflect the distinct roles and.functions of LDC women as they relate to project implementation;
b. strategies for explicitly benefiting women and girls in all sectors within countries, and in all projects within sectors which are developed and implemented as an integral part of AID's work;
c. sex-disaggregated data collection, gender-specific social-soundness analysis and economic analysis, monitoring and evaluation.
(2) AID will also, under appropriate conditions, support LDC women's institutions and programs where special efforts are required to reach women because of cultural conditions, where separate programs and facilities are deemed necessary, or where women's groups provide a particularly advantageous vehicle for addressing women's needs.
(3) AID recognizes that the productivity of women is important to personal, family and national well-being. Women's increased productivity depends on their improved access to resources, e.g. land, improved farming techniques, information, employment; therefore, a. where lack of education and training constrain women's effective access to more productive work, AID will seek to increase relevant knowledge and skills among women and girls;
This monthly briefing highlights that global employment remains a challenge; the United States Federal Reserve faces challenges in adjusting its monetary policy and that financial markets in emerging economies attempted to stabilize.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
This monthly briefing highlights that the world economy is expected to improve in 2014; that unemployment rates remain a major challenge; and downside risks to the baseline scenario persist.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
Análisis de la progresiva recuperación de los mercados internacionales de la perspectiva del empleo, la económica y el nivel de productividad de las empresas.
Global Wage Report 2014/15 - Asia and the Pacific SupplementDr Lendy Spires
Wages in Asia and the Pacific have risen almost two-and-a-half fold since the beginning of the century. For the region’s 706 million wage workers and their families, these substantial wage gains have helped to translate economic dynamism into higher incomes and living standards – although inequality remains a concern and the benefits have not been shared as widely as would have been possible.
The Ministry of Finance (Singapore) issued an occasional paper in August 2015 on income growth, inequality and mobility which are key issues of concern for many countries across the world.
1) Real income growth provides an indication of how consumption and standards of living are improving;
2) Income inequality examines the spread of incomes across a society;
3) Intergenerational income mobility measures the extent to which individuals’ incomes and their standing in the income ladder differs from their parents’.
This paper reviews trends in income growth, inequality and mobility in Singapore, using data from the Department of Statistics (DOS), and puts them in international perspective.
About MOFSpore:
Ministry of Finance (Singapore) is a ministry of the Government of Singapore responsible for managing Singapore’s fiscal policies and the structure of its economy.
MOF’s mission is to create a better Singapore through Finance. Our vision is a forward-looking MOF that advances leading ideas, drives synergies across Government and ensures fiscal prudence.
Connect with MOF Online:
Visit the MOF’s WEBSITE: http://www.mof.gov.sg/
Like MOF on FACEBOOK: http://on.fb.me/1Db87LB
Follow MOF on TWITTER: http://bit.ly/1HY0rlk
Follow MOF on Google+: http://bit.ly/1KsUAYe
Find MOF on LinkedIn: http://bit.ly/1Qa8IV9
15Introduction The economy of the United State.docxhallettfaustina
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5
Introduction
The economy of the United States is the world’s largest national economy in nominal terms and the second in terms of purchasing power parity globally. The economy’s currency the US dollar is used to settle most international transactions. The US economy is a mixed one. Its major trading partners are United Kingdom, Canada, Mexico, South Korea and Japan.
The United States’ economy is one of the high industrialized and diversified economies in the world. Its major industries include; energy, transport, healthcare, and agriculture. It is a leading exporter of innovation goods, arms, petroleum products, and electronics.
The Unites states is a consumption economy where most of the goods and services are consumed locally rather than for export promotion. Although the US is one world’s largest exporters of technology goods it imports heavily from Asian economies like China. Its main export markets are the European Union, Canada, China, and Mexico.
The US economy is still recovering from the 2008 global financial crisis. It is also grappling with plummeting oil prices and is greatly concerned about China growing exports into the economy (Potomac, 2010). Lastly, the economy is in a transition because of regime change.
Production output performance analysis
Real GDP
The real GDP is an inflation-adjusted macroeconomic measure of the value of all goods and services that are produced in an economy in a given year. In simple terms, it measures everything that a country produces in a particular year. It is usually expressed in constant prices which enable it to capture economic growth more accurately as compared to the nominal GDP (Feldstein, 1988). From the graph, we can deduce that the GDP of the US was initially rising from the year 2006 up to the year 2008. During this phase the economy was experiencing a boom and was healthy, employment rates were high and consumption was high. However, the economy slides into a recession in the year 2008. During this period the 2008 global financial crises happened. This led to a decline in US GDP, where it hit its lowest point in the last decade. This scenario persisted up to the year 2010. From 2010 the US economy is seen to be in a recovery where the GDP is increasing significantly over the years.
Real GDP Growth Rate
The real GDP growth rate is a measure of economic expansion in relation to real GDP from one financial year to another. It measures how fast the country’s economy is growing. It is largely driven by net exports, personal consumption, and government expenditure and business investment (Feldstein, 1988). From the graphical representation of the real GDP growth rate of US, we are starting with a positive figure which indicates that the economy is expanding healthy. If the economy is growing then by implication so is employment, personal incomes, and business. During the 2008-2009 global financial the economy went into recession and it can be seen that the real GDP growth ra ...
The 2014/15 edition examines the link between wages and inequality at the household level. It shows that wages constitute the largest single source of income for households with at least one member of working age in most countries and points to changes in wages and paid employment as key factors underlying recent trends in inequality. The report also considers wage gaps between certain groups, such as those between women and men, migrants and nationals, and workers in the informal and formal economy.
Inequality can be addressed through policies that affect wage distribution directly or indirectly, as well as through fiscal redistribution. However, increasing inequality in the labour market places a heavier burden on efforts to reduce inequality through taxes and transfers. The report thus emphasizes the need for combined policy action that includes minimum wages, strengthened collective bargaining, interventions to eliminate wage gaps, the promotion of paid employment and redistribution through taxes and transfers.
Five years after the onset of the global financial crisis the world economy remains in a state of disarray. Strong expansionary monetary policies in the major developed economies have not succeeded in fostering credit creation and strengthening aggregate demand. Fiscal austerity and wage compression in many developed countries are further darkening the outlook, not only for the short term, but also for the medium term. The burden of adjustment of the global imbalances that contributed to the outbreak of the financial crisis remains with the deficit countries, thus strengthening deflationary forces in the world economy. The dominance of finance over real economic activities persists, and may even have increased further. Yet financial reforms at the national level have been timid at best, advancing very slowly, if at all. In 2008 and 2009, policymakers of several economically powerful countries had called for urgent reforms of the international monetary and financial system. However, since then, the momentum in pushing for reform has all but disappeared from the international agenda. Consequently, the outlook for the world economy and for the global environment for development continues to be highly uncertain. Some developing and transition economies have been able to mitigate the impact of the financial and economic crises in the developed countries by means of expansionary macroeconomic policies. But with the effects of such a response petering out and the external economic environment showing few signs of improvement, these economies are struggling to regain their growth momentum. Prior to the Great Recession, exports from developing and transition economies grew rapidly owing to buoyant consumer demand in the developed countries, mainly the United States.
OVERVIEW Five years after the onset of the global financial crisis the world economy remains in a state of disarray. Strong expansionary monetary policies in the major developed economies have not succeeded in fostering credit creation and strengthening aggregate demand. Fiscal austerity and wage compression in many developed countries are further darkening the outlook, not only for the short term, but also for the medium term. The burden of adjustment of the global imbalances that contributed to the outbreak of the financial crisis remains with the deficit countries, thus strengthening deflationary forces in the world economy. The dominance of finance over real economic activities persists, and may even have increased further. Yet financial reforms at the national level have been timid at best, advancing very slowly, if at all. In 2008 and 2009, policymakers of several economically powerful countries had called for urgent reforms of the international monetary and financial system. However, since then, the momentum in pushing for reform has all but disappeared from the international agenda. Consequently, the outlook for the world economy and for the global environment for development continues to be highly uncertain. Some developing and transition economies have been able to mitigate the impact of the financial and economic crises in the developed countries by means of expansionary macroeconomic policies. But with the effects of such a response petering out and the external economic environment showing few signs of improvement, these economies are struggling to regain their growth momentum. Prior to the Great Recession, exports from developing and transition economies grew rapidly owing to buoyant consumer demand in the developed countries, mainly the United States.
Some arguments are briefly presented about the negative consequences of the deep global economic and financial crisis of 2008 on the economic activity and the social situation in Spain. Reformulation, sustainability and financial viability of social welfare in Spain require a new management through resource efficiency, increasing market presence and initiative of stakeholders as a whole. In this sense, the main credible argument of the welfare social in Spain depends on a new perspective on socialization and generosity of social protection system. Specifically, the solution to the crisis must come through economic growth, increased productivity, employment and competitiveness and not by the way of increasing levels of social protection.
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Up the Ratios Bylaws - a Comprehensive Process of Our Organizationuptheratios
Up the Ratios is a non-profit organization dedicated to bridging the gap in STEM education for underprivileged students by providing free, high-quality learning opportunities in robotics and other STEM fields. Our mission is to empower the next generation of innovators, thinkers, and problem-solvers by offering a range of educational programs that foster curiosity, creativity, and critical thinking.
At Up the Ratios, we believe that every student, regardless of their socio-economic background, should have access to the tools and knowledge needed to succeed in today's technology-driven world. To achieve this, we host a variety of free classes, workshops, summer camps, and live lectures tailored to students from underserved communities. Our programs are designed to be engaging and hands-on, allowing students to explore the exciting world of robotics and STEM through practical, real-world applications.
Our free classes cover fundamental concepts in robotics, coding, and engineering, providing students with a strong foundation in these critical areas. Through our interactive workshops, students can dive deeper into specific topics, working on projects that challenge them to apply what they've learned and think creatively. Our summer camps offer an immersive experience where students can collaborate on larger projects, develop their teamwork skills, and gain confidence in their abilities.
In addition to our local programs, Up the Ratios is committed to making a global impact. We take donations of new and gently used robotics parts, which we then distribute to students and educational institutions in other countries. These donations help ensure that young learners worldwide have the resources they need to explore and excel in STEM fields. By supporting education in this way, we aim to nurture a global community of future leaders and innovators.
Our live lectures feature guest speakers from various STEM disciplines, including engineers, scientists, and industry professionals who share their knowledge and experiences with our students. These lectures provide valuable insights into potential career paths and inspire students to pursue their passions in STEM.
Up the Ratios relies on the generosity of donors and volunteers to continue our work. Contributions of time, expertise, and financial support are crucial to sustaining our programs and expanding our reach. Whether you're an individual passionate about education, a professional in the STEM field, or a company looking to give back to the community, there are many ways to get involved and make a difference.
We are proud of the positive impact we've had on the lives of countless students, many of whom have gone on to pursue higher education and careers in STEM. By providing these young minds with the tools and opportunities they need to succeed, we are not only changing their futures but also contributing to the advancement of technology and innovation on a broader scale.
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Canadian Immigration Tracker March 2024 - Key SlidesAndrew Griffith
Highlights
Permanent Residents decrease along with percentage of TR2PR decline to 52 percent of all Permanent Residents.
March asylum claim data not issued as of May 27 (unusually late). Irregular arrivals remain very small.
Study permit applications experiencing sharp decrease as a result of announced caps over 50 percent compared to February.
Citizenship numbers remain stable.
Slide 3 has the overall numbers and change.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
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5. Part I. Major trends in wages
The context
Debates about the economic role of wages have intensified in recent years. At
the firm level, an increase or decrease in wages affects production costs and has
consequences for profitability, sustainability and competitiveness. At the country
level, the net effect of higher or lower wages depends on the direction and rela-tive
magnitude of the effects of wages on household consumption, investment and
net exports. In the Eurozone, concerns over deficits in aggregate demand arising
from insufficient household consumption have focused more attention on wages,
and many commentators have pointed to the decline or stagnation of wages as
increasing the risk of deflation. In some emerging and developing economies, more
attention has been devoted to wages as a key component of overall strategies to
reduce poverty and inequality.
Global wage growth decelerated in 2013 compared to 2012, and has yet
to rebound to pre-crisis rates
Global real wage growth dropped sharply during the crisis in 2008 and 2009, recov-ered
somewhat in 2010 and then decelerated again. Average monthly real wages
grew globally by 2.0 per cent in 2013, down from 2.2 per cent in 2012, and have
yet to rebound to pre-crisis rates of around 3.0 per cent growth in 2006 and 2007.
Global wage growth driven mostly by emerging and developing economies
Global wage growth in recent years was driven by emerging and developing
economies, where real wages have been rising – sometimes rapidly – since 2007.
However, there are major regional variations. While real wage growth in 2013
reached 6 per cent in Asia and nearly 6 per cent in Eastern Europe and Central
Asia, it amounted to less than 1 per cent in Latin America and the Caribbean (down
from 2.3 per cent in 2012). Tentative estimates also show that real wages grew by
almost 4 per cent in the Middle East, due to strong reported wage growth in Saudi
Arabia, but by less than 1 per cent in Africa. Real wage growth in emerging G20
economies slowed from 6.7 per cent in 2012 to 5.9 per cent in 2013.
Global wage growth cut in half when China is excluded
China accounted for much of global wage growth, because of its large size and high
real wage growth. Excluding China cuts global real wage growth almost in half,
from 2.0 per cent to 1.1 per cent in 2013, and from 2.2 per cent to 1.3 per cent in 2012.
6. 2 Global Wage Report 2014/15 – Executive summary
Flat wages in developed economies
In the group of developed economies, real wages were flat in 2012 and 2013,
growing by 0.1 per cent and 0.2 per cent, respectively. In some cases – including
Greece, Ireland, Italy, Japan, Spain and the United Kingdom – average real wages
in 2013 were below their 2007 level. Composition effects (the effect on the average
wage due to the changing composition of workers in paid employment) played a
large role in crisis-affected countries.
Between 1999 and 2013, labour productivity growth in developed economies
outstripped real wage growth, and labour’s share of national income – also
a reflection of the link between wages and productivity – fell in the largest
developed economies
Overall, in the group of developed economies, real wage growth lagged behind
labour productivity growth over the period 1999 to 2013. This was the case before
the crisis in 2007 and – after a brief narrowing of the gap during the depth of the
crisis – labour productivity has continued to outstrip real wage growth since 2009.
Between 1999 and 2013, labour productivity growth exceeded wage growth
in Germany, Japan and the United States. This decoupling of wages and product-ivity
growth is reflected in the decline in the labour income share (the share of
GDP going to labour compensation) over the same period in these countries. In
other countries, such as France and the United Kingdom, the labour income share
remained stable or increased. Among emerging economies, the labour income
share increased in recent years in the Russian Federation, and declined in China,
Mexico and Turkey. It is important to note, however, that when real wage growth
is rapid, the welfare implications of a declining labour income share in emerging
and developing economies may be different from those in developed economies.
Average wages in emerging and developing economies are slowly converging
towards average wages in developed economies
Average wages are still considerably lower in emerging and developing economies
than they are in most developed economies. When measured in purchasing power
parity (PPP), the average monthly wage in the United States, for example, is more
than triple that in China.
While definitional and methodological differences make precise comparison
of wage levels across countries difficult, the average wage in developed economies
is estimated at approximately US$ (PPP) 3,000, as compared to an average wage
in emerging and developing economies of about US$ (PPP) 1,000. The estimated
world average monthly wage is about US$ (PPP) 1,600. However, the gap in real
wages between developed and emerging economies has narrowed between 2000
and 2012, based on strong wage growth in the latter, while in many developed
countries wages stagnated or contracted.
7. Global Wage Report 2014/15 – Executive summary 3
Part II. Wages and income inequality
Mixed trends in household income inequality
Growing inequality in many countries over the last few decades has commanded
increasing attention, as high levels of inequality can adversely affect well-being and
social cohesion as well as reducing medium- and long-term economic growth. The
report shows that recent trends in total household income inequality have been
mixed in both developed economies and emerging and developing economies. The
level of inequality is generally higher in the latter; however, progress has been
made in a number of such countries to reduce it, usually in a context of growing
incomes. In developed economies that experienced rising inequality, this has typ-ically
occurred in a context of stagnant or declining incomes.
Inequality starts in the labour market
In many countries, inequality starts in the labour market. Changes in the distribu-tion
of wages and paid employment have been key factors behind recent inequality
trends. In developed economies where inequality increased most, this was fre-quently
due to a combination of more wage inequality and job losses. In Spain
and the United States, the two countries where this inequality between the top and
bottom 10 per cent increased most, changes in the distribution of wages and job
losses accounted for 90 per cent of the increase in inequality in Spain and 140 per
cent of the increase in the United States. In developed countries where household
income inequality increased, other income sources offset about one-third of the
increase in inequality due to changes in wages and employment.
A number of emerging and developing economies experienced declines in
inequality. In these countries, a more equitable distribution of wages and paid
employment was a predominant factor. In Argentina and Brazil, where inequality
fell most, changes in the distribution of wages and paid employment accounted for
87 per cent of the decade-long reduction in top–bottom inequality in Argentina,
as they did for 72 per cent in Brazil.
Wages are a major source of household income
The important role of wages in household income inequality can be explained by
the fact that wages are a major source of household income in both developed
economies and emerging and developing economies. In developed economies,
wages represent about 70 to 80 per cent of total pre-tax, post-transfers income for
households with at least one member of working age, with substantial variation
across countries. In the emerging and developing economies studied in the report,
the contribution of wages to household income is smaller, ranging from about 50 to
60 per cent in Argentina and Brazil to about 40 per cent in Peru and 30 per cent in
Viet Nam. Self-employment income generally comprises a larger share of house-hold
income than in developed economies, particularly among low-income groups.
However, in both types of economies, income sources at both the top and
the bottom are more diverse than in the middle, where households rely mostly
8. 4 Global Wage Report 2014/15 – Executive summary
on wages. In developed economies, social transfers play an important role in
supporting low-income households, whereas in many emerging and developing
economies low-income households rely mostly on self-employment. Among the
bottom 10 per cent of households, for example, wages represent roughly 50 per
cent of household income in the United States, 30 per cent in Italy, 25 per cent in
France, 20 per cent in the United Kingdom, 10 per cent in Germany and 5 per cent
in Romania. Among the middle- and upper-income groups, wages represent the
highest share of household income in almost all countries, reaching about 80 per
cent or more in Germany, the United Kingdom and the United States.
For emerging and developing countries, the share of wages among the bottom
10 per cent of households varies from about 50 per cent of household income in
the Russian Federation to less than 10 per cent in Viet Nam. In Argentina, Brazil,
China and the Russian Federation, the share of wages rises gradually across the
middle classes, before declining in the highest income groups.
Some groups suffer from discrimination and wage penalties
The report shows that in almost all countries studied there are wage gaps between
men and women as well as between national and migrant workers. These gaps
arise for multiple and complex reasons that differ from one country to another
and vary at different points of the overall wage distribution. These wage gaps can
be divided into an “explained” part, which is accounted for by observed human
capital and labour market characteristics, and an “unexplained” part, which
captures wage discrimination and includes characteristics (e.g. having children)
that should in principle have no effect on wages. The report shows that if this
unexplained
wage penalty was eliminated, the mean gender wage gap would actu-ally
reverse in Brazil, Lithuania, the Russian Federation, Slovenia and Sweden,
where the labour market characteristics of the disadvantaged groups should result
in higher wages. It would also nearly disappear in about half the countries in the
sample of developed economies.
A similar analysis is carried out to compare the wages of migrants with
those of national workers, showing that in various countries the mean wage gap
would reverse if the unexplained part of the gap was eliminated. Among developed
economies, this is the case in Denmark, Germany, Luxembourg, the Netherlands,
Norway, Poland and Sweden. In Chile, migrant workers earn more than their
national counterparts on average.
The report also finds a wage gap between workers in the formal and the
informal economy; this is shown in the report, for example, in wage gaps affecting
workers in the informal economy for selected Latin American countries. As with
gender and migrant wage gaps, the wage gap for workers in the informal economy
is generally lowest in the bottom deciles and increases for higher wage earners.
In addition, the observable labour market characteristics of informal economy
workers differ from workers in the formal economy across all points of the wage
distribution and for all countries (i.e. there is an explained gap across the entire
distribution). At the same time, however, the unexplained part of the wage gap
remains significant.
9. Global Wage Report 2014/15 – Executive summary 5
Part III. Policy responses to address wages and inequality
The policy challenge
Inequality can be addressed through policies that affect wage distribution directly
or indirectly and through fiscal policies that redistribute income through taxation
and transfers. However, increasing inequality in the labour market places a heavier
burden on efforts to reduce inequality through taxes and transfers, which is not
always possible or desirable. This suggests that inequality that arises within the
labour market should also be addressed through policies that have a direct effect
on the distribution of wages.
Minimum wages and collective bargaining
Recent research suggests that governments have considerable space for using
minimum wages as a policy tool. On the one hand, research shows that there is
either no trade-off between increased minimum wages and employment levels or
that such increases have very limited effects on employment, which can be either
positive or negative. On the other, it shows that minimum wages do contribute
effectively to reducing wage inequality. Minimum wage policies have been used as
effective policy tools by an increasing number of governments in recent years, in
both developed economies and emerging and developing economies. Importantly,
minimum wages should be set in a way that balances the needs of workers and
their families with economic factors.
Collective bargaining is another labour market institution that has long been
recognized as a key instrument for addressing inequality in general and wage in-equality
in particular. The extent to which collective bargaining can compress
overall wage inequality depends on the proportion of workers covered by collective
agreements and on the position of these workers in the wage distribution.
Promoting job creation
Job creation is a priority in all countries, and the report shows that access to, or
loss of, paid employment is a key determinant of income inequality. In developed
economies, job losses that disproportionally affected low-income workers contrib-uted
to increasing inequality. In emerging and developing economies, the creation
of paid employment for those at the bottom contributed to reducing inequality in
a number of countries. These findings confirm that the pursuit of full-employment
policies is an important aspect of reducing inequality. The promotion of sustain-able
enterprises is key in this regard. This involves establishing an environment
favourable to the creation and development of enterprises, as well as to innovation
and enhanced productivity. The resulting benefits can be shared equitably within
enterprises and in society more broadly.
10. 6 Global Wage Report 2014/15 – Executive summary
Special attention to disadvantaged groups of workers
Extending minimum wages and collective bargaining to low-paid workers will
generally be helpful in reducing inequality among women, migrants and vulner-able
groups, who are over-represented among these workers. However, these policy
tools alone will not eliminate all forms of discrimination or wage gaps, which
constitute a significant source of inequality. A wider range of policies is required
to overcome wage gaps across groups that are not explained by human capital
and labour market characteristics. For example, achieving equal pay between men
and women requires policies aimed at combating discriminatory practices and
gender-based stereotypes about the value of women’s work, effective policies on
maternity, paternity and parental leave, as well as advocacy for better sharing of
family responsibilities.
Fiscal redistribution through taxes and social protection systems
Fiscal policies can compensate to some extent for inequality in the labour market,
through both progressive taxation systems and transfers that tend to equalize
household incomes. Such policies are used more frequently by governments in
developed economies to address their income distribution objectives than in
emerging and developing economies, although there may be some convergence
under way. In emerging and developing economies, there appears to be space for
increased tax revenues through a variety of measures, including by broadening
the tax base through the transition of workers and enterprises from the informal
to the formal economy as well as by improving tax collection. Increased revenues
would in turn allow for the extension and upgrading of social protection systems,
which are often not fully developed in such economies.
The need for combined policy action
Wages constitute the largest single source of income for households in developed
and emerging economies alike, with only a few exceptions. At the same time, wages
make a smaller contribution to household income for the lowest income groups.
In developed economies, where social transfers are more important sources of
income for these groups, this calls for a combination of policies that help indi-viduals
in these households move into employment and measures that raise the
quality and compensation of the work they find. In some emerging and developing
economies, raising the income of low-income groups has been achieved through
direct employment programmes (as in India and South Africa) and cash trans-fers
(as in Brazil and Mexico, among many other countries). In the end, the most
effective and sustainable route out of poverty for the working-age population is a
productive, fairly paid job. Policies should be geared towards this objective.