January 2025
06Jan

Vietnam. Declining fertility rate predicted to lead to workforce shortage

A prolonged low birth rate is forecast to directly impact the size and structure of the population, leading to consequences such as labourer shortages, rapid population aging, and population decline. Vietnam's replacement fertility rate has dropped to its lowest level in the last 12 years and is projected to continue decreasing in the coming years, according to a report of the General Department of Population under the Ministry of Health (MoH). Currently, 21 cities and provinces in Vietnam have reported low...

January 6, 2025
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December 2024
20Dec

Empowering the Next Generation: Adapting Hong Kong’s Workforce for Tomorrow

As we look toward the future of work in Asia, understanding the evolving dynamics of the workforce is crucial, particularly in the Hong Kong market. Mercer’s 2024 Global Talent Trends survey reveals that generational shifts, especially the influence of Gen Z, are reshaping workplace expectations and strategies. With a strong emphasis on flexible work arrangements, well-being, and technological engagement, companies in Hong Kong must adapt to meet the needs of this emerging workforce. By fostering a work environment that aligns with...

December 20, 2024
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16Dec

India. Why a nation of 1.45 billion wants more children

Last year, India nudged past China to become the world's most populous country, according to UN estimates. With nearly 1.45 billion people now, you'd think the country would be quiet about having more children. But guess what? The chatter has suddenly picked up. Leaders of two southern states – Andhra Pradesh and Tamil Nadu – have recently advocated more children. Andhra Pradesh is mulling providing incentives, citing low fertility rates and ageing population. The state also scrapped its "two-child policy" for local body elections,...

December 16, 2024
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13Dec

Do Pensions Enhance Worker Effort and Selection? Evidence from Public Schools

By Michael Bates & Andrew C. Johnston Why do employers offer pensions? We empirically examine two theoretical rationales, namely that pensions improve worker effort and worker selection. We test these hypotheses using rich administrative measures on effort and output for teachers around the pension-eligibility notch. When workers cross the notch, their effective compensation falls by roughly 50 percent of salary, but we observe no reduction in worker effort or output. This implies that pension payments do not increase effort. As for selection, we find...

December 13, 2024
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11Dec

Immigration and Waning US Labor Force Growth

The growth of the working age population born in the United States has been slowing since 2000, as increasing numbers of native-born workers have been reaching retirement age while smaller generations of young Americans enter their working years. Since 2020, the size of the population aged 18-65 that was born in the United States has actually shrunk. The decline has been most pronounced among non-college educated workers. Corresponding to this decrease in labor supply, unfilled job vacancies and labor...

December 11, 2024
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11Dec

Zimbabwe. Government urged to incentivise informal sector formalisation

ANALYSTS and other key business players have implored the Government to invest more in incentivising informal sector players to transition into formal business operations to enhance economic stability and improve tax revenues. Mr James Wadi, an economic analyst said this while giving an appraisal of the 2025 National Budget at the post–budget breakfast meeting hosted by Business Weekly in collaboration with the Confederation of Zimbabwe Industries (CZI) and the Ministry of Finance, Economic Development and Investment Promotion on Monday. Zimbabwean products Mr...

December 11, 2024
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10Dec

South Korea. Number of newlyweds falls below 1 mil. in 2023, nearly half childless

The number of newly married couples in Korea dropped below 1 million for the first time in 2023, with nearly half without children, data showed Tuesday. Newlyweds refer to couples who had been married for five years or less. In 2023, the number came to 974,000, down from 1.03 million the previous year, according to the data from Statistics Korea. This marks the first time the number of newlyweds has fallen below 1 million since the agency began collecting relevant data in...

December 10, 2024
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10Dec

31% of Canadian employees rely on gig work to help cover expenses: survey

A third (31 per cent) of Canadian employees say they rely on gig work in some capacity to help cover regular expenses, according to a new survey by ADP Canada. The survey, which polled more than 1,200 employees, found among gig workers, 17 per cent said gig work is their primary source of income for covering expenses. The main industries solicited by gig workers are transportation, retail and grocery. On a scale of one to 10, workers reported an average happiness...

December 10, 2024
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09Dec

Kenya. Jua kali workers to receive formal certification under proposed law

Kenyan artisans working in the informal sector, popularly known as jua kali, could soon receive formal recognition for their skills, following a proposed law which seeks to establish a structured system for assessing and certifying their expertise. If passed, the Bill would make it mandatory for the National Industrial Training Authority (NITA) to create a system for assessing individuals who have acquired skills through non-formal, informal, or experiential learning methods. Kisumu Central MP Joshua Oron introduced the Bill known as the...

December 9, 2024
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04Dec

Rise and Challenges of India’s Gig Economy

According to a white paper by the Forum for Progressive Gig Workers, the gig economy in India is projected to grow at a compounded annual growth rate (CAGR) of 17%, reaching USD 455 billion by 2024, driving significant economic growth and employment opportunities. What is the Gig Economy? About: The gig economy refers to a labor market characterized by short-term, and flexible jobs often facilitated through digital platforms. It involves individuals or companies offering services on a temporary or task-by-task basis, rather...

December 4, 2024
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