Washington, March 27 (IANS) The US Department of Labor has proposed new rules to raise wages for foreign workers under H-1B and other visa programmes.The move aims to align foreign worker pay with US market wages. Officials say it will protect American workers and reduce misuse of the system.“The Trump Administration is committed to ensuring that American workers are not disadvantaged by unfair wage practices,” Labour Secretary Lori Chavez-DeRemer said.The proposal changes how “prevailing …
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Washington, March 19 (IANS) Federal Reserve Chair Jerome Powell said the US central bank was keeping interest rates unchanged as it monitored the fallout from higher oil prices and broader uncertainty linked to the conflict in the Middle East. Powell on Wednesday (local time) said the Federal Open Market Committee decided to keep its policy rate unchanged because the current stance remained appropriate. He said the US economy was expanding at “a solid pace”, even as inflation stayed above ta…
New Delhi, March 5 (IANS) India is emerging as a key player in the global Artificial Intelligence revolution and is helping to democratise the technology not just for its own citizens but also for developing countries around the world, Kristalina Georgieva, Managing Director of the International Monetary Fund, said on Thursday.Speaking at the Asia in 2050 Conference in Bangkok, Georgieva said the rapid development of AI has the potential to reshape the global economy, with Asia playing a central…
New Delhi, March 5 (IANS) Pakistan must generate roughly 30 million jobs over the next decade to absorb new labour‑market entrants, but recent growth is incapable of it, causing brain drain and weakened productivity, a report has said.The report from Maldives Insight said the economy grew at an average 1.7 per cent annually between 2022 and 2025, far below what is needed to sustain employment, and the official unemployment rate reached 7.1 per cent in FY25, the highest in 21 years.The pace of …
New Delhi, March 5 (IANS) Job applications by women for leadership and governance roles in India rose sharply over the past year as applications for strategic and top management positions increased 43 per cent year on year (YoY), a report said on Thursday.On the other hand, those for risk management and compliance roles rose 51 per cent, according to an analysis by Apna.co.The report suggested that women job seekers are increasingly exploring roles higher in the organisational hierarchy rather t…
New Delhi, Feb 21 (IANS) Pakistan’s demographic dividend has turned out to be a “demographic dilemma” as a widening skills gap leads to “economic stagnation which feeds social unrest”, a new report has said.The report from The Express Tribune said the country produced nearly 8 lakh university graduates annually but struggled to access key labour markets such as Japan and South Korea due to mismatches between the skills produced and those demanded by these economies.The report flagged findi…
New Delhi, Feb 10 (IANS) The Heritage Institute’s Index of Economic Freedom has classified Pakistan as a “repressed” economy, ranking it 150th out of 184 economies, with a score of 49.1 out of 100 for the year 2025.The Heritage Institute’s Index of Economic Freedom measures 12 economic freedoms, which include: property rights, government integrity, judicial effectiveness, tax burden, government spending, fiscal health, business freedom, labour freedom, monetary freedom, trade freedom, investment…
Madrid, Feb 9 (IANS) Spain’s decision to reform its immigration system has sparked a question that European Union has long avoided instead of resolving it – how regularisation policies in a nation operate in a borderless continental space and the implications it produces beyond the state that implement them. Spain has taken the decision as it faces labour shortages, demographic ageing and backlog of unresolved asylum and residency applications. Enhancing legal pathways, regularising undocumented…
Wellington, Feb 4 (IANS) New Zealand’s unemployment rate rose to 5.4 per cent in the December 2025 quarter, the highest since the September 2015 quarter when it was 5.7 per cent, Stats NZ reported Wednesday. The unemployment rate of 5.4 per cent was up from 5.3 per cent in the previous quarter, said the statistics department, Xinhua News Agency reported.The number of unemployed people rose by 5,000 to 165,000 over the quarter, while both employment and participation in the labour market increase…
Washington, Jan 29 (IANS) Emerging market economies have shown notable resilience despite trade disruptions, geopolitical uncertainty, and shifting global financial conditions, senior International Monetary Fund (IMF) officials said here on Thursday, while warning that risks remain tilted to the downside. Presenting the IMF’s latest assessment ahead of a conference on emerging economies, IMF Economic Counsellor and Director of Research Pierre-Olivier Gourinchas said global growth has held up bet…