A plan is only as good as the target! Here’s what we aim to achieve by 2030 for the manufacturing sector - covering the nation’s GDP, employment and also the median salary in the manufacturing sector! Find out more about NIMP 2030 here: https://lnkd.in/gV2P2FUs #NIMP2030
Ministry of Investment, Trade and Industry (MITI)’s Post
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Candidate Attorney at Lawtons Africa • BA LLB (Rhodes University) • LLM in Commercial law (University of Cape Town)
‼️NEWS ALERT‼️ The Minister of Employment and Labour has, in terms of Section 6(3) of the BCEA, amended the earnings threshold to R254 371.67, effective 01 April 2024. This is an increase of R13 261.08 from February 2023, which is in line with the annual inflation rate of 5.3% as at January 2024. The effect of this increase is that employees who earn less than the above amount, as gross income, need not prove they are an employee for the purposes of the LRA and BCEA.
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Did you watch the 2024 Budget last night? According to the Treasury’s latest forecasts, workers are expected to enjoy real wage growth of 0.5 per cent a year for the next three years as a result of falling inflation and large pay increases (as per upcoming collective agreements and wage rulings). Specifically, wage forecasts record pay growth of 4 per cent for 2023-24 as inflation drops to 3.5 per cent in the same period.
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To calculate the annual change in real terms, we adjusted April 2022 earnings to what they would have been in April 2023 if workers received pay rises in line with inflation, or more precisely, the Consumer Prices Index including owner occupiers' housing costs (CPIH). The difference between the recorded April 2023 wages and the inflation-adjusted estimates is the annual change in real terms.
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New data shows that small businesses saw nominal wages increase by 13.8% in the last months of 2023. This shows the wage cost pressures faced by small businesses as they try to attract and retain staff. The Independent reports: https://ow.ly/2rfo50QUawS #UKsmallbusinessnews
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What happens if an SME cannot hike their prices to cover for a Fair Work Commission mandated decision to increase wages? Job losses will result as the business either reduces staff or even closes down. This is a reality many SME's are likely to face until inflation is brought under control. #supportyourlocalbusiness https://lnkd.in/gkb3dYXS.
Minimum wage hike could force many small businesses to shutter: Opposition
https://www.smartcompany.com.au
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Real wages are increasing and the jobs market is tight. Here are some expert tips to secure yourself a pay rise.
UK Wages Are Rising — Here’s How to Increase Your Pay
bloomberg.com
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Human Capital Management Consultant at ADP - Helping small to midsize businesses reduce and stabilize operating costs when it comes their biggest expense, liability, and asset— their employees
Annual wages in New Mexico have flatlined since 2021, while the Land of Enchantment's neighbors have seen long-term growth since pay spikes in the spring of 2021, according to the latest ADP Pay Insights.
New Mexico's flat wage growth is an outlier in the Southwest
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Providing tailored solutions for HR/Payroll/WFM which allow companies to transform their HCM processes
Annual wages in New Mexico have flatlined since 2021, while the Land of Enchantment's neighbors have seen long-term growth since pay spikes in the spring of 2021, according to the latest ADP Pay Insights.
New Mexico's flat wage growth is an outlier in the Southwest
