Ford Motors Offers Wage Increases of Up to 25%
Following an intense wage dispute standoff, Ford Motors has offered Canadian worker's union Unifor wage increases of up to 25% as part of a tentative agreement to bring an end to negotiations. Unifor confirmed that its Ford leadership unanimously voted to support the tentative agreement,...
Sterling Remains Steady Following Strong UK Wage Data
The sterling remained steady on Tuesday after an inflow of British job market data that showed that wage growth remained strong despite a weakening labor market. The British pound remained flat against the U.S. dollar at $1.2507, thereby sustaining its 0.35% growth from the...
Record UK Wage Growth Raises Bets on Bank of England Rate Hike
UK wage growth hit record numbers on Tuesday, with the Bank of England looking increasingly likely to continue its interest rate hikes when reconvening on September 21 for its next policy meeting. Average wages excluding bonuses jumped 7.8% in the three months ending June...
BoE Rate Hike More Likely Following Record UK Pay Growth
Regular pay in the UK grew by 7.3% during the period of March until May, figures from the Office for National Statistics (ONS) on Tuesday showed. This matches the highest growth rate on record.
This development has boosted fears that the Bank of England (BoE)...
Home Depot to Raise Pay for Canadian, U.S. Workers
Home Depot announced on Tuesday that it will put $1 billion towards increasing the wages of its hourly workers based in the United States and Canada. The rise is expected to be implemented this month, with starting pay being at least $15 per hour.
“This...
U.S. Employment Costs Continue to Rise in Q2
The cost of employment in America has been rising steadily for months now and it doesn't seem to be slowing down any time soon.
Back in quarter one, employment costs had risen 1.4%, giving workers optimism about their financial situation. However, given the news over...