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☆ Peru has attracted a slew of foreign investors into its credit market. Here's why
▼ + stars: | 2024-10-08 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +5 min

Foreign investors now hold 39% of Peru's sovereign bond market holdings, the highest level across all emerging market countries. This underscores the increasingly positive sentiment surrounding the Peru's fixed income outlook. "It has recognized the need to provide international investors positive returns on domestic assets, and for central banks to be aligned with international investors and provide positive returns on domestic assets." "In some sense, the lack of a strong executive has led to better fixed income outcomes," Austerweil added. Dhawan also underscored that Peruvian fixed income is a high quality market for foreign investors.

Persons: Moody's, Dina Boluarte's, Pramol Dhawan, Pimco, Dhawan, David Austerweil, Soberano, Austerweil Organizations: Southern Copper Corp, Lawmakers, Peruvian, International Monetary Fund, Central Reserve Bank of, Bank of America, Mining Locations: Peru, Sol, Central Reserve Bank of Peru, America, U.S, Peruvian, China

☆ India's high unemployment is a 'ticking bomb,' opposition says as election battle with Modi's BJP heats up
▼ + stars: | 2024-04-23 | by ( Vinay Dwivedi | ) www.cnbc.com time to read: +4 min

India's unorganized sector, which is made up of millions of small businesses that are privately owned, make up about 93% of the country's total workforce. As many as 32% of the respondents said increasing unemployment was the key reason why they would not elect the BJP again. India's Labour Ministry did not immediately respond to CNBC's queries pertaining to the country's unemployment situation. Rajan, who was speaking about how to make India an advanced economy at the George Washington University, said: "Unemployment numbers are high, disguised unemployment is even higher. A slowdown in hiring in India's huge information technology sector is also to blame for the lack of well-paying, white-collar jobs.

Persons: Rahul Gandhi, Narendra Modi, Modi, Gandhi, —, Manmohan Singh, Arun Kumar, Lokniti, joblessness, Kumar, Raghuram Rajan, Rajan Organizations: DELHI, International Labour Organisation, Institute of Human, Goods, Services Tax, Jawahar Lal Nehru, CNBC, ILO, Bharatiya Janata Party, Indian National Congress, BJP, Modi, India's Labour Ministry, Former Reserve Bank of India, George Washington University, Labor Locations: India, Bihar, New Delhi

The U.N.-backed International Labor Organization says reforms introduced following the World Cup have improved the situation of migrant workers, while adding that more needs to be done. Meanwhile, human rights group Amnesty International says migrant workers still face abuses. Photos You Should See View All 21 ImagesLast November, Amnesty urged Qatar and FIFA to do more for migrant workers - particularly in terms of compensation. Migrant workers collect litter, serve coffee, drive taxis and provide security. The number of work-related deaths in the delivery of the World Cup came under intense scrutiny in the lead-up.

Persons: Jordan, Stephen Cockburn, ″, ”, Max Tunon, ” Tunon, it’s, “, ” Cockburn, ” ___ James Robson Organizations: Qatar, International Labor Organization, Amnesty International, “, AP, FIFA, Qatari, Workers, ILO Locations: DOHA, Qatar, Doha, Kenya, Ghana, Saudi Arabia

LONDON (AP) — One year after Qatar hosted the men’s World Cup, the gas-rich emirate and soccer governing body FIFA were urged Thursday by human rights group Amnesty International to do more for migrant workers who were essential to prepare the tournament and still face labor abuses. FIFA, under a different leadership, is now embarked on a similar journey toward Saudi Arabia hosting the World Cup in 2034. “Qatar’s continued failure to properly enforce or strengthen its pre-World Cup labor reforms puts any potential legacy for workers in serious peril,” Amnesty said. A key point for activists and some FIFA member federations has been compensating the families of workers in Qatar who were injured or died. Weeks before the World Cup started, FIFA’s top lawyer had said it was open to helping create a compensation fund.

Persons: ”, Steve Cockburn, “ Qatar’s, “, Weeks, Michael Llamas Organizations: —, Qatar, FIFA, Amnesty, Progress, “ Qatar, United Nations, International Labor Organization, Labor, ” Amnesty, InBev, Budweiser, ” FIFA, “, ILO, Ministry of Labor Locations: Qatar, United States, Saudi Arabia, Gibraltar, “, Geneva

☆ India debate on 70-hour workweek: Illegal or road to greatness?
▼ + stars: | 2023-11-07 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +2 min

Indians currently work an average of 47.7 hours a week, according to the International Labour Organization. Infosys founder Narayana Murthy recently sparked a controversy on social media when he said young people should be working 70 hours a week to boost India's economy. If we want to achieve greatness, then yes, those are the number of hours and the kind of sacrifices we must make," Kapoor said. Our youngsters must say: 'This is my country, I want to work 70 hours a week,'" he said during a podcast with Indian philanthropist T.V. He told CNBC that "70 hours just sounds like a very high number.

Persons: Narayana Murthy, Ayushmaan Kapoor, Kapoor, Murthy, Rishi Sunak, T.V, Mohandas Pai, Vivek Mudaliar, Mudaliar, wouldn't Organizations: International Labour Organization, Infosys, CNBC, U.S, UK, Reliance Industries, DBS Bank, HSBC Locations: India, China, U.S, Germany, Singapore, Japan

☆ Billionaire businessman says young Indians should work 70 hours a week
▼ + stars: | 2023-10-28 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Narayana Murthy said young Indians should work 70 hours a week. I want to work 70 hours a week," N.R. But Indians already work some of the longest hours of any nationality, averaging around 47.7 hours per week per employed person, according to the ILO. In a post on X, formerly known as Twitter, tech entrepreneur Vishal Gondal wrote: "Respectfully, Narayana Murthy ji, while hard work is crucial, a 70-hr work week may risk burnout and stifle creativity." Respectfully, Narayana Murthy ji, while hard work is crucial, a 70-hr work week may risk burnout and stifle creativity.

Persons: N.R, Narayana Murthy, —, Mohandas Pai, Murthy, Forbes, Pai, Vishal Gondal Organizations: Infosys, Service, T.V, International Labour Organization, ILO, India, United, Emirates Locations: India, Qatar, Congo, Lesotho, Bhutan, Gambia

☆ Morning Bid: Bitcoin is back, stocks wobble
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. Treasuries remain in the headlines with yields on 10-year notes briefly hitting 5% on Monday before quickly declining. The Japanese currency was at 149.57 per dollar having touched the symbolic 150 level on Friday and on Monday. Meanwhile, bitcoin prices soared on the back of rising speculation about the possibility of a bitcoin exchange-traded fund. Reuters GraphicsReuters GraphicsKey developments that could influence markets on Tuesday:Economic events: Oct flash PMI for Germany, France, UK and Euro zone; UK August ILO unemployment rateEarnings: Barclays, Puma, Microsoft and Google-parent Alphabet.

Persons: Benoit Tessier, Ankur Banerjee, Treasuries, Sam Holmes Organizations: La Maison du, REUTERS, Ankur, Microsoft, Google, Barclays, ICE, Reuters Graphics Reuters, Puma, Thomson Locations: La, Paris, France, Israel, Europe, Asia, Pacific, Japan, Britain, United States, Germany

☆ These are the countries with the shortest and longest workweeks—and where the U.S. stands
▼ + stars: | 2023-09-19 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +4 min

Here are the 5 countries with the shortest average workweeks, according to data from the International Labor Organization:Vanuatu: 24.7 hours average per week per employed person24.7 hours average per week per employed person Kiribati: 27.3 hours average per week per employed person27.3 hours average per week per employed person Mozambique: 28.6 hours average per week per employed person28.6 hours average per week per employed person Rwanda: 28.8 hours average per week per employed person28.8 hours average per week per employed person Austria: 29.5 hours average per week per employed personThese are the 5 countries with the longest workweeks, according to the ILO:United Arab Emirates: 52.6 hours average per week per employed person52.6 hours average per week per employed person Gambia: 50.8 hours average per week per employed person50.8 hours average per week per employed person Bhutan: 50.7 hours average per week per employed person50.7 hours average per week per employed person Lesotho: 49.8 hours average per week per employed person49.8 hours average per week per employed person Congo: 48.6 hours average per week per employed personIt is important to note that the distribution of these hours is not necessarily even. In the UAE, 46% of those employed work for more than 49 hours a week, which is considered the 'excessive working limit' by the ILO. In comparison, only 8% of those employed in Austria work over the excessive working limit. In a survey conducted by the Randstad Workmonitor, 43% of Americans said they felt compelled to be available to their employers outside of regular work hours. In a separate survey, Morning Consult reported that 51% of Americans support slower employee response time outside of work hours, which is the norm in the European workplace.

Organizations: International Labor Organization, ILO, United, Union worker's, Organization for Economic Cooperation, Development, CNBC Locations: Vanuatu, Kiribati, Mozambique, Rwanda, Austria, United Arab Emirates, Gambia, Bhutan, Lesotho, Congo, UAE, South Korea, China, Russia, India, United Kingdom, Israel, Canada, Norway

☆ ILO chief: See open-mindedness from the West on immigration issues
▼ + stars: | 2023-09-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailILO chief: See open-mindedness from the West on immigration issuesGilbert Houngbo, director-general at the International Labour Organization, speaks to CNBC's Tanvir Gill at the G20 leaders' summit in Delhi.

Persons: Gilbert Houngbo, CNBC's Tanvir Gill Organizations: ILO, International Labour Organization Locations: Delhi

☆ Climate change adds workplace costs and hazards
▼ + stars: | 2023-09-07 | by ( Mark John | ) www.reuters.com time to read: +6 min

The 57-year-old's death in hospital was announced in late August - just as his trade union was ratifying a deal with UPS on improved heat protections. In a statement to local media, UPS (UPS.N) said it was cooperating with the authorities as they investigated the cause of death. "We train our people to recognize the symptoms of heat stress, and we respond immediately to any request for help," it said. Many European and other usually temperate countries still have no laws establishing maximum work temperatures. "Climate change is such a paradigm shift that all of us need to rethink these legacy economic assumptions," said NELP's Christman.

Persons: patchily, Chris Begley, Halshka Graczyk, Graczyk, Chaya, Anastasia Christman, Owen Tudor, Tudor, Jerome Volle, NELP's, David Stanway, Catherine Evans Organizations: UPS, Teamsters, International Labour Organization, Chiang Mai University, . Occupational Health, Safety Authority, Employment Law, International Trade Union Confederation, Reuters, Thomson Locations: Texas, Paris, Thailand, Myanmar, China, Singapore

☆ About 21 million jobs held by women and 9 million jobs held by men could be replaced by AI: ILO
▼ + stars: | 2023-08-22 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

However, in high-income countries, 21 million jobs held by women have the potential to be automated. In high-income countries, 7.8% of jobs held by women have the potential to be automated — which the ILO estimates to be around 21 million jobs. In contrast, 2.9% of jobs in high-income countries held by men — or around 9 million jobs — face the potential of being automated, as shown in the graf below. About a quarter of clerical workers' tasks face a high exposure to generative AI, and 58% of their tasks face a medium exposure to the technology. For example, the study found that only 4% of service and sales workers' tasks face high exposure to generative AI, and 18% of their tasks face medium exposure.

Persons: —, Goldman Sachs Organizations: International Labour Organization, International Labour, Labour Organization Clerical, McKinsey Locations: graf

☆ AI unlikely to destroy most jobs, but clerical workers at risk, ILO says
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023. It warned, however, that clerical work would likely be the hardest hit, potentially hitting female employment harder, given women's over-representation in this sector, especially in wealthier countries. An explosion of interest in generative AI and its chatbot applications has sparked fears over job destruction, similar to those that emerged when the moving assembly line was introduced in the early 1900s and after mainframe computers in the 1950s. But most other professions, like managers and sales workers, are only marginally exposed, it said. Still, the U.N. agency's report warned that the impact of generative AI on affected workers could still be "brutal".

Persons: Dado Ruvic, Emma Farge, Alison Williams Organizations: REUTERS, Rights, International Labour Organization, Thomson

The International Labour Organization (ILO), of which Cambodia is a member, permits prison labour provided it is not forced. The companies, which Sopheak confirmed were W Dexing Garment (Cambodia), IGTM (Cambodia) and Chia Ho (Cambodia) Garment Industrial, did not respond to requests for comment. It said it learned in February that Cambodia was investigating and that the prison workshops had been suspended. Centric told Reuters in an email in June that it had "placed on hold" imports from a factory in Cambodia and would "immediately terminate" any supplier found to be using prison labour. CAMBODIA INVESTIGATESPrison labour at CC2 potentially puts Cambodia at odds with the U.S. Generalized System of Preferences, which grants duty-free benefits to eligible developing nations.

Persons: Keo Chhea, Sopheak, Chia Ho, AAFA's, Ken Loo, Aun, Loo, Calvin Klein, Tommy Hilfiger, amfori, Klot Dara, Stephen Lamar, Nate Herman, Clare Baldwin, Katherine Masters, Siddharth Cavale, John Shiffman, Kristina Cooke, David Crawshaw, Kay Johnson Organizations: Correctional, Google, REUTERS Acquire, Walmart, Centric Brands, Reuters, American Apparel and Footwear Association, International Labour Organization, ILO, Cambodian Ministry of Commerce, State, European Union, Japan, Garment, Human Rights, Textile, Apparel, Footwear, Travel Goods Association, IZOD, U.S . Federal Trade Commission, U.S, Travelway, Centric, Better Factories, BFC, amfori's Business, Authentic Brands, U.S . Trade, CC2, Cambodia's Ministry of Interior, General Department of Prisons, Facebook, Thomson Locations: Phnom Penh, Cambodia, PHNOM PENH, U.S, Washington, AAFA, IGTM, Canada, Better Factories Cambodia, CC2, CAMBODIA, Cambodia's U.S, New York, Los Angeles

☆ As the world gets hotter, millions of workers face up to the challenge of heat stress and productivity losses
▼ + stars: | 2023-07-05 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +7 min

According to those involved in the report's production, warmer working environments can create some very challenging scenarios indeed. Issues relating to productivity also apply to equipment, facilities and buildings, Fox said. "The economic losses due to heat stress at work were estimated at US$280 billion in 1995," the U.N. agency said. "This clothing can be quite cumbersome … and quite hot to wear, even under cold conditions," Fox said. Fox noted that buildings of this type haven't particularly been designed with heat ingress — especially extreme heat ingress — in mind.

Persons: Tim Fox, Fox, Marco Bertorello, that's, Laura Kent, Jorge Guerrero, Yolanda Díaz, Díaz, It's Organizations: World Meteorological Organization, of Mechanical Engineers, CNBC, International Labour Organization, Workers, AFP, Getty, ILO, Fox, Factories, Health, Safety, Spain's, Labour, Social, State Meteorological Agency, Spain's Labour Ministry, Reuters, heatstroke . Trade, Union Locations: Europe, Italy, Ronda, Spain, Madrid, heatstroke, Britain, Ireland

The average May temperature in Hanoi is 32 degrees Celsius (90 degrees Fahrenheit). “Which is why a humid heat wave is more dangerous than a dry heat wave,” she told CNN. This is above a threshold considered dangerous, especially for people with health problems or those not used to extreme heat. In Thailand, 20 days in April and at least 10 days in May reached feels-like temperatures above 46 degrees Celsius (115 degrees Fahrenheit). Throughout April and May, Vietnam, Cambodia, Laos and Malaysia all had several days with potential to cause extreme heat stress.

Persons: ”, ” Phong, Dinh Van Hung, ” Dinh, Nhac Nguyen, Maximiliano Herrera, Herrera, Mariam Zachariah, Cyclone Mocha, ” Zachariah, Chaya Vaddhanaphuti, ” Emmanuel Raju, ” Raju, Madaree Tohlala, “ Nui, “, ” Nui, Andre Malerba, Chaya, –, Chintanaphone, Boua Seng, Lobia Yaw, Thongsouk, hasn’t Organizations: Hong Kong CNN, CNN, Getty, ” Workers, Imperial College London, WWA, Chiang Mai University, Copenhagen Center for Disaster Research, Labour Organization, Farmers, Weather, Lao Farmer Network Locations: Hong Kong, Hanoi, Vietnam, Dong Da district, “, Hanoi , Vietnam, AFP, Dinh, Southeast Asia, Thailand, Laos, Cambodia, Malaysia, Myanmar, Asia, Thai, Narathiwat, Bangkok, ”

☆ Top business leaders and policymakers discuss the future of jobs
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTop business leaders and policymakers discuss the future of jobsModerated by CNBC's Geoff Cutmore, top business leaders discuss at Davos, Switzerland, the impact the green transition, technological advances, demographics and reorganized value chains could have on labor markets. Joining CNBC is José María Álvarez-Pallete, chairman and CEO of Telefonica, Gilbert Fossoun Houngbo, director-general of the ILO, Martin J. Walsh, the Secretary of Labor for the U.S., Pamela Coke-Hamilton, executive director at the ITC, and Saadia Zahidi, managing director at the World Economic Forum.

☆ Top business leaders discuss the future of jobs at the World Economic Forum
▼ + stars: | 2023-01-18 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 3 a.m. Please refresh the page if you do not see a player above at that time.] Moderated by CNBC's Geoff Cutmore, top business leaders discuss at Davos, Switzerland, the impact the green transition, technological advances, demographics and reorganized value chains could have on labor markets. Joining CNBC is José María Álvarez-Pallete, chairman and CEO of Telefonica, Gilbert Fossoun Houngbo, director-general of the ILO, Martin J. Walsh, the Secretary of Labor for the U.S., Pamela Coke-Hamilton, executive director at the ITC, and Saadia Zahidi, managing director at the World Economic Forum. Subscribe to CNBC on YouTube.

☆ Global jobs growth will halve in challenging 2023: ILO
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

"The slowdown in global employment growth means that we don't expect the losses incurred during the COVID-19 crisis to be recovered before 2025," said Richard Samans, Director of the ILO's Research Department and coordinator of its newly published report. Progress in reducing the number of informal jobs in the world is also likely to be reversed in the coming years, the ILO said. The global jobs forecast is lower than the previous ILO estimate of 1.5% growth for 2023. "The current slowdown means that many workers will have to accept lower quality jobs, often at very low pay, sometimes with insufficient hours," ILO said. The situation could worsen further if the global economy slows down, ILO added.

☆ World Cup 2022: how many migrant workers have died in Qatar?
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +5 min

Dec 9 (Reuters) - Here is a look at migrant workers' rights issues in Qatar, which is hosting the 2022 World Cup from Nov. 20-Dec. 18:WHAT IS QATAR'S RECORD ON MIGRANT WORKERS' RIGHTS? * Britain's Guardian reported last year that at least 6,500 migrant workers -- many of them working on World Cup projects -- had died in Qatar since it won the right to stage the World Cup, according to the paper's calculations from official records. * Qatari World Cup organisers, the Supreme Committee for Delivery & Legacy, said that there have been three work-related fatalities and 37 non-work-related deaths among workers at World Cup 2022 sites. * In September, England's FA said families of migrant workers in Qatar who were injured or killed while constructing the infrastructure for this year's World Cup should be compensated. * The shirts worn by the Netherlands team during the World Cup will be auctioned to support migrant workers in Qatar, the Dutch Football Association (KNVB) said this month.

☆ A house price slump is coming. Rising unemployment could make it much worse
▼ + stars: | 2022-11-23 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

Brendon O'Hagan/Bloomberg/Getty ImagesNew Zealand is at the sharp end of a global housing market squeeze that has grim ramifications for the world economy. “In an ideal world, you’ll get a bit of froth blown off the top [of house prices] and everything is fine. “A decisive increase in unemployment is a very big danger for housing markets,” said Slater of Oxford Economics. Qilai Shen/Bloomberg/Getty ImagesA drag on the economyMost market watchers are not expecting a repeat of the 2008 housing market crash. But even a modest a fall in house prices will knock confidence, causing homeowners to cut back on spending.

☆ Global jobs growth will 'deteriorate significantly' this quarter - ILO
▼ + stars: | 2022-10-31 | by ( Emma Farge | ) www.reuters.com time to read: +2 min

Overall, there were 40 million fewer full-time jobs between July-September than in the fourth quarter of 2019, which is used as the benchmark level before the COVID pandemic, it added. "On current trends, global employment growth will deteriorate significantly in the fourth quarter of 2022," the ILO said in its report on the World of Work. The report also said that excessive policy tightening could cause "undue damage to jobs and incomes in both advanced and developing countries". The ILO warned of declining job vacancies ahead and rising unemployment in the final months of the year. There are already signs that the labour market has cooled considerably in advanced economies, with sharp declines in vacancy growth, it said.

☆ Создание интегрированной системы инспекции труда ‒ императив времени
▼ + stars: | 2021-06-25 | by ( Наталья Хадыркэ | ) vocea.md time to read: +6 min

Международная организация труда (МОТ) в сотрудничестве с Международным учебным центром МОТ (ITC/ILO) в Турине (Италия)организовала обучающий курс, направленный на укрепление потенциала Инспекции труда Республики Молдова в области продвижения и применения трудовых норм в нашей стране. Известно, что Международная организация труда приняла ряд международных трудовых стандартов в сфере инспекции труда, наиболее важной из которых является Конвенция № 81 об инспекции труда, которая устанавливает принципы, функции и основные характеристики инспекции труда с упором на промышленность и торговлю. Данным курсом МОТ преследовала цель расширить международный опыт и способствовать обмену знаниями, а также обсудить некоторые инновационные и успешные стратегии в области инспекции. Основными темами курса были: управление трудом; инспекционный визит; инспектирование условий труда; заработная плата и доход; рабочее время; условия труда, связанные с материнством и семьей; насилие на работе; политика и планирование инспекции труда; разработка стратегий по продвижению соответствия и др. Мне было комфортно с другими участниками, сотрудниками Государственной инспекции труда.

Persons: Елена Каркилан, Луис Карлос Лумбрерас Organizations: Международная организация труда (МОТ), Международный учебный центр, МОТ, Инспекция труда, Инспекция труда профсоюзов, Международная организация труда, Международное бюро труда, Государственная инспекция труда Locations: Турин, Италия, Республика Молдова, РМ

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