Tag: Demand

German interior minister rejects union’s six percent wage demand

German interior minister rejects union’s six percent wage demand

Thomson Reuters BERLIN (Reuters) – German Interior Minister Horst Seehofer said on Saturday he would press for “reasonable results” in the next round of pay talks with more than two million public sector workers, but he rejected the Verdi union’s demand for a six percent increase.
Wage talks are due to resume on Sunday after 150,000 public sector employees staged warning strikes and walkouts last week that left thousands of passengers stranded at airports, and hit hospitals, childcare centres and waste depots.
Seehofer, the federal government’s top negotiator in the talks, underscored the importance of public sector workers and said it was “self-evident” that they should benefit from the country’s economic growth.
Verdi said 17,000 people participated in walkouts on Friday, bringing the total for the week’s labour actions to 150,000.
He said public sector workers should benefit from surging German tax revenues.
The federal government and municipalities have rejected the union’s demands, but the head of the VKA association of local employer organisations last week said he expected an agreement to emerge from the next round of talks.
Inflation edged up to 1.5 percent in March.
Falling unemployment, inflation-busting pay rises and low borrowing costs are fuelling a consumer-led upswing.
The European Central Bank (ECB) is keeping a close eye on the German pay talks for any sign that wage growth is picking up, potentially lifting inflation and giving the ECB added leeway to start winding down its massive stimulus programme.
(Reporting by Andrea Shalal; Editing by Helen Popper)

HUD Data Shows LIHTC Continues to Meet Needs of Vulnerable Populations

HUD Data Shows LIHTC Continues to Meet Needs of Vulnerable Populations

The slight increase in tenants earning over 60 percent of AMI from 2013 to 2014 can be explained by the fact that tenants are permitted to remain in LIHTC units even as their incomes increase over time and exceed the maximum qualifying limits at move-in.
As of 2014 an estimated 37.8 percent of LIHTC households received rental assistance, a 1.9 percent increase from 2013.
Some state agencies did not provide rental assistance data for some properties, 6.6 percent and 19.6 percent, for 2013 and 2014 respectively.
As noted in both HUD’s 2013 and 2014 reports, the households that did not or could not provide rental assistance data likely did not receive any rental assistance.
The number of African-Americans occupying LIHTC buildings increased by 0.4 percent from 22.7 percent in 2013 to 23.1 percent in 2014, while the number of Other Race/Multiple Race increased 0.2 percent from 2013 to 2014.
From 2013 to 2014, there was a 1.2 percent increase from 8.3 percent in 2013 to 9.5 percent in 2014.
For example, the 1997 report shows that 39 percent of households received rental assistance.
Rental assistance was slightly lower in both 2013 and 2014, 35.9 percent and 37.8 percent respectively than in 1997.
This demonstrates that the percentage of LIHTC households receiving rental assistance has not changed substantially.
The LIHTC continues to benefit extremely low-income and very low-income households as well as households that contain at least one member with a disability.

Workers Wanted: French Jobs Unfilled Despite High Unemployment

Workers Wanted: French Jobs Unfilled Despite High Unemployment

Workers Wanted: French Jobs Unfilled Despite High Unemployment.
REUTERS/Benoit Tessier Reuters SARCELLES, France (Reuters) – France, troubled for years by high unemployment, is now grappling with a lack of qualified workers.
Many company bosses are pinning their hopes on newly-elected President Emmanuel Macron, and specifically his labor reform plans, to help find willing and able workers.
Government employment agencies had received 274,000 unfilled job offers as of April, up 14 percent in a year and close to levels not seen since November 2011.
Demand for workers on longer-term contracts – which French firms often avoid, fearing they will be unable to get rid of staff in the future – is growing faster than for short-term hires. “Adapting the labor market and skills is clearly a priority.
Second is the development of these growing sectors themselves,” Labaye told Reuters.
Macron has said he wants to invest 15 billion euros ($16.8 billion) in building up skills for a million youths and another million low-qualified, long-term unemployed people.
France already spends nearly 32 billion euros a year on professional training, equivalent to 1.5 percent of economic output, but only 15 percent goes to training job seekers, according to data from the Labour Ministry.
Extra money for training, as well as extending unemployment benefits to cover people who want to leave jobs for a new profession, could help make Macron’s reforms more palatable to critics.

Donald Trump Wants to “Prime the Pump” – But Why?

Donald Trump Wants to “Prime the Pump” – But Why?

In an interview conducted on May 4 and published Thursday, Donald Trump told editors at the Economist, “we have to prime the pump” through tax reform.
First let’s get this out of the way: Trump claimed, bizarrely, to have invented the phrase, even though he was speaking to people more likely than just about anyone else to have heard of it.
Trump: “We have to prime the pump.”
Economist: “Priming the pump?”
Pump priming has been around since the 1930s, and is, as the interviewer pointed out, mostly associated with the British economist John Maynard Keynes.
The Economist’s question had to do with forecasts that the Trump campaign’s tax plan, as revised in September 2016, will raise the federal deficit, which Reagan’s 1986 tax reform did not (the single-page plan the administration released on April 26 does not include sufficient detail to forecast revenue effects).
Low growth and high unemployment, the Keynesians thought, could not coexist with high inflation – until it did.
Supply or Demand?
The question is, why prime the pump now?
Trump’s tax plan might have target the poor and middle class, if the goal was to stimulate demand, but instead it appears to be in the Reagan-Thatcher ideological mode: a supply-side tax cut aimed at the rich, who – the theory goes – will reinvest that money, increasing supply through new ventures and reinvigorating growth.