Latest news with #minimumwage
Bloomberg
3 hours ago
- Business
- Bloomberg
NYC Settles on Smaller Driver Pay Bump After Uber, Lyft Pushback
New York City on Friday announced new minimum-pay rules for rideshare drivers, settling on a smaller-than-proposed 5% increase following pushback from Uber Technologies Inc. and Lyft Inc. An earlier proposal called for a 6.1% pay boost. The finalized regulations from the city's Taxi and Limousine Commission, or TLC, are also designed to deter Uber and Lyft from locking gig workers out of their apps in an attempt to keep costs down. The board of commissioners will vote on the rules on June 25, according to the agency's website.
Irish Times
4 hours ago
- Business
- Irish Times
Minimum pay for childcare workers to rise to €15 an hour
Childcare workers will earn a minimum of €15 an hour under proposals jointly agreed by employers and unions. The Joint Labour Committee, which is made up of childcare providers and unions representing childcare staff, have agreed the minimum hourly raise rate from €13.65 to €15 an hour, an increase of 10 per cent. Some 35,000 people work in the childcare sector in Ireland. The new pay agreement will be underpinned by an extra €45 million provided to the sector by the Government. The proposals will now go to those childcare staff that are unionised, but Siptu has recommended approval. READ MORE Siptu's head of strategic organising Darragh O'Connor said it was a 'really big step in the journey for recognition, respect and decent pay for early years professionals'. [ 'The Government has gone very quiet': childcare providers protest for support after election promises Opens in new window ] However, he added that staffing remains a 'huge issue' with the sector and can only be relieved by continued Government investment. Childcare Service Ireland, the Ibec group that represents childcare providers, said it will help ringfence funding for wages to reach early years educators. 'There are several pressing issues facing providers, and we look forward to working with the Minister to address these challenges. Our goal is to ensure the continued sustainability of a high-quality early childhood education and care sector,' a spokesperson said. 'Any further increases in wages must be fully supported by Government funding, as the ongoing fee freeze and the incoming fee caps significantly limit providers' ability to absorb additional costs.' Minister for Children Norma Foley said the 10 per cent increase in minimum pay represents a 'significant step' towards fair pay for educators in the sector. [ Childcare crisis driving employees out of workforce Opens in new window ] She said her department pledge to put another €45 million into the sector helped get the deal over the line. 'If these proposals are implemented through updated Employment Regulation Orders, they will bring much-needed improvements in pay for these dedicated professionals, enhancing the quality of care and education provided to children across Ireland,' she said. 'I am hopeful that these proposals will soon come into effect, marking a positive change for our dedicated and skilled staff in the early learning and childcare sector and the services that employ them.'
Free Malaysia Today
10 hours ago
- Business
- Free Malaysia Today
Bar Council sets RM1,350 minimum wage for pupils in chambers
In a survey, the Bar Council found that 83% of pupils were already receiving at least RM1,000 a month, with the low-pay phenomenon prevalent among firms outside the Klang Valley. PETALING JAYA : The Bar Council has set the national minimum wage for pupils in chambers at RM1,350, with the new rate becoming mandatory for law firms in Selangor, Kuala Lumpur and Putrajaya beginning April next year. Firms in other states will be allowed to reach the prescribed minimum sum in phases, beginning with a baseline pay of RM1,000. However, they must raise salaries to at least RM1,200 by 2027, before aligning with the national minimum in 2028. The council acknowledged that many legal firms, particularly in major urban centres, already pay more than RM1,350, but said it was obliged to set a minimum pay to ensure that pupils do not fall below the poverty line. The new rates are based on a recommended remuneration framework developed by EconWorks, an economic advisory firm engaged by the Malaysian Bar. 'The rate of minimum remuneration is subject to periodic review. Any adjustment will be announced by the Bar at least 12 months before implementation of the new rate. 'Any increase in the rate should be guided by the average annual increase of the median monthly salary in Malaysia,' the council said in a circular to members issued this week. In its key findings from the survey, EconWorks said 83% of pupils were already receiving at least RM1,000 a month with the low-pay phenomenon prevalent among firms outside the Klang Valley. The survey found that lower wages were more prevalent among smaller law firms. It said most pupils are based in Kuala Lumpur and Selangor, where remuneration typically exceeds the minimum income required to meet basic living needs, with some firms paying as high as RM2,500. The median pupil pay in Johor and Penang was found to be RM1,500. 'In other states, many pupils are still paid below the poverty line income threshold of RM1,000. Law firms in Terengganu and Kelantan pay the lowest, at RM500,' it said, adding that 17% of pupils currently receive under RM1,000 a month.
Bloomberg
a day ago
- Business
- Bloomberg
Labour Budget Squeezing Middle-Class Workers, BOE Report Finds
By and Tom Rees Save UK Chancellor of the Exchequer Rachel Reeves' decision to push up taxes for employers and increase the minimum wage is squeezing pay for middle earners, moving work overseas and inflating food prices. That's the conclusion of the local network that feeds on-the-ground intelligence to the Bank of England, in a report that will make uncomfortable reading for the Labour government.
Bloomberg
2 days ago
- Business
- Bloomberg
Gen Z Drives Britain's Consumer Confidence to Highest This Year
UK consumer confidence jumped to its highest level this year, boosted by rising optimism among Generation Z after the latest increase in the minimum wage. The British Retail Consortium said its gauge measuring expectations for the economy over the next three months rose to minus 28 in June, up from minus 36 last month. It was the highest reading since December.
