New research provides important support for the argument that a coordinated increase in wages, along with more public investment, would boost the global economy and help create the jobs that are urgently needed to reduce unemployment. The ITUC global trade union confederation highlighted the research in its lobbying of the recent meeting of governments in the G20 group of leading industrial nations. The ITUC also warns of the risk of deflation and how the declining wage share in the economy has been a drag on growth.
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Wages boost needed for employment and growth
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Minimum wages need major boost
A new report from the ETUC, as part of its Pay Rise campaign, shows that minimum wage rates across Europe need to rise significantly just to reach an official measure of low pay (60% of the national median wage as used by the Organisation for Economic Co-operation and Development). Minimum wages in Estonia, Czech Republic and Spain need some of the largest increases to reach the low pay threshold - 46%, 51% and 62% respectively. The ETUC argues that national governments need to sit down with trade unions and employers to discuss how to reach the target.
Growth in involuntary fixed-term employment
The latest survey on fixed-term employment by the European statistics agency, Eurostat, shows a growth in involuntary fixed-term work for both men and women across all sectors. In health and social services 6.1% of women were involuntarily on fixed-term contracts in 2005, up from 5.3% in 2000. The corresponding figures for men were 5.9% and 5.4%. Women in health and social work now account for the largest proportion - 15.3% - of all women working involuntarily on fixed term contracts. [Read more at > Eurostat (EN, FR, DE)-> http://epp.eurostat.ec.europa.eu/portal/page?_pageid=1073,46587259&