Productivity

Your parents’ income doesn’t determine yours – unless you’re ultra rich or extremely poor

Retrieved on: 
Wednesday, July 10, 2024

Australia is among the strongest global performers in terms of income mobility between the generations, according to a new Productivity Commission report.

Key Points: 
  • Australia is among the strongest global performers in terms of income mobility between the generations, according to a new Productivity Commission report.
  • The country’s long-term economic growth has led to each generation earning more than the last, on average.
  • Economic mobility in Australia, released on Thursday, measures intergenerational income mobility by examining the relationship between a person’s income and the eventual income of their children.

Measuring inequality

  • Most countries anxiously monitor income distribution and economic mobility amid concerns inequality may be increasing.
  • And countries with high inequality tend to have low mobility: the rungs of the social ladder are far apart making it difficult to move up to the next level.
  • In Australia we are used to thinking of ourselves as having inequality and mobility somewhere between Scandinavia and the US; but that comparison is not as comforting as it used to be, if inequality and mobility are worsening in the US.

Recovering from setbacks

  • More encouragingly, the income of women who experience separation does increase, eventually restoring the buying power of their household.
  • We found Australia’s intergenerational mobility is actually higher than the Scandinavian countries, and second only to Switzerland among comparable studies.
  • In all countries studied there was some link between parents’ income mobility and that of children, because parents pass on tastes, ambitions and abilities.

Movement in the middle

Early childhood educators are not ‘babysitters’. What do their jobs really involve?

Retrieved on: 
Tuesday, June 18, 2024

But as the draft report notes, this goal “cannot be achieved” without addressing the critical need for more early childhood teachers and educators.

Key Points: 
  • But as the draft report notes, this goal “cannot be achieved” without addressing the critical need for more early childhood teachers and educators.
  • The Fair Work Commission is examining the pay for early childhood workers, with hopes of a pay rise in the next 12 months.
  • The families who rely on early childhood education and care services will likely know the people who do this work are skilled and hardworking.

Early education is not just ‘care’

  • But early education in the form of long daycare or preschool/kinder helps provide the necessary building blocks to help a child get ready for school.
  • Play (both initiated by children and their teachers) has a huge role in young children’s development.

Huge demand for staff

  • On top of the Productivity Commission’s work, most Australian states and territories are already rolling out free kindergarten or preschool for three and four-year-olds.
  • This is fuelling huge demand for both early childhood teachers and educators, in an already stretched sector.

Who works in early education?


In your child’s preschool, kinder or long day care centre you will find early childhood teachers and early childhood educators. The two work together, but there are differences in their training, education and job requirements.

Early childhood teachers

  • If your child attends a preschool or kinder or does a preschool program within a long daycare centre, this will be led by an early childhood teacher.
  • Early childhood teachers need a university qualification.
  • Like primary and secondary teachers, early childhood teachers’ study topics including child development, numeracy, literacy, children’s literature, humanities, STEM, Aboriginal and Torres Strait Islander Knowledges and Cultures, the arts and how to teach.

Early childhood educators

  • If your child attends a long daycare centre, many of the people working there will be early childhood educators.
  • They may also work in a preschool or kinder if there is also an early childhood teacher.
  • Early childhood educators either need a Certificate III or diploma in early childhood education and care.

What do early childhood teachers and educators do?

Don’t feel bad about bingeing TV. Humans have binged stories for thousands of years

Retrieved on: 
Friday, June 14, 2024

Streaming services such as Netflix, Disney+, Stan and Prime Video have habituated us to the “all at once” series drop.

Key Points: 
  • Streaming services such as Netflix, Disney+, Stan and Prime Video have habituated us to the “all at once” series drop.
  • And that is the fact that bingeing – the act of unrestrained and excessive indulgence – is nothing new.
  • Far from being a new behaviour spawned by the digital age, bingeing is rooted in human history.

An ancient practice

  • Much like you might binge Baby Reindeer, Eric or The Walking Dead today, humans have always sought absorbing narrative experiences.
  • Before writing emerged, ancient oral storytelling captivated people across cultures, providing entertainment, knowledge transmission and cultural education.
  • The reading sofa and the television couch certainly represent what 18th-century novel-reading and modern-day television-viewing seem to have in common.
  • Access to home videos meant back-to-back viewing, while film screenings and double features mirrored older communal entertainment forms such as public readings and theatre attendances.

Hooked on a feeling

  • Creators must now design shows with the binge-watching model in mind, using cliffhangers, escapism and continuous arcs to encourage prolonged viewing.
  • As to why we love bingeing, this comes down to a complex interplay of emotions and brain chemistry.

Shifting values

Intangible assets of multinational enterprises in Ireland and their impact on euro area activity

Retrieved on: 
Wednesday, June 12, 2024
Transfer, Aircraft, United Nations, Note, IP, Journal of Economic Perspectives, Consequence (publication), Region, Movement, Depreciation, Electricity, Government, Swings, GFCF, ESRI, Princeton University Press, Central bank, Public, XLVII, European Central Bank, Growth, Capital, IMTS, Research Papers in Economics, Classification, International, ESA, Medication, Database, Frankfurt, GVA, PLC, University, MEGA, Introduction, Investment, Semiconductor, Banco de Portugal, Brexit, Helm, F62, Section 4, Journal, Internal, Section 5, SHOCK, Cost, Working paper, SNA, Transport, Tax, EIB, Intellectual property, Organization, Bank, FitzGerald dynasty, GDP, Quarterly Review, De Nederlandsche Bank, EUR, Forecasting, Central Statistical Office, EMU, Investment banking, Motor vehicle, PDF, Computer, BPM, Parent, Section 2, European Commission, F23, Limited company, Writing, Central Bank of Ireland, IPP, Natural rubber, GNI, Coke, International Monetary Fund, Prevalence, Research, Exercise, Cross, IMF, OECD, Spes, ICT, Productivity, ECB, Accounting, Drink, FDI, Task force, FOB, Social science, Real, Thumb, Fiscal council, JEL, Software, BEPS, COVID19, MNE, Shock, E22, European Investment Bank, Central Bank of Cyprus, Electronics, Publication, Publishing, Bank for International Settlements, University College Cork, Section 3, TFP, SPE, Deutsche Bundesbank, Suggestion, Policy, Gross domestic product, Sale, Intra, Bank of France, Reproduction, Augmented Dickey–Fuller test, Employment, CSO, Intangibles, Central Statistics Office, ISSN, Director of National Parks, Security printing

In euro area countries other than Ireland, estimates point to IPP transfers having a relatively limited impact on overall country-level output for the present, and little effect on euro area GDP or its expenditure components.

Key Points: 
    • In euro area countries other than Ireland, estimates point to IPP transfers having a relatively limited impact on overall country-level output for the present, and little effect on euro area GDP or its expenditure components.
    • Transfers of intangible assets to and from Ireland have caused significant volatility in the expenditure components of euro area GDP.
    • These effects have propelled Ireland from a weight of approximately 1% of euro area GDP in 1999 to around 5% by 2023.
    • The euro area current account and capital stock are also affected by MNE activities (see Section 4).
    • Complementing the headline series with these smoother modified series facilitates economic assessment of the euro area (see Section 5).
    • ECB Occasional Paper Series No 350 5 1 Introduction Multinational Enterprises (MNEs) have become an increasingly important feature of the euro area economy.
    • In addition, the profits of some of the world?s largest MNEs derive mainly from intangible assets (software, patents and other IPPs).
    • Most of this increase is driven by global corporations across a wide range of sectors with head offices that are established outside the euro area.
    • For some countries, such as Slovakia, MNE activity is mostly driven by companies headquartered in other euro area countries, while Ireland stands out with the highest share of MNEs with headquarters outside the euro area.
    • ECB Occasional Paper Series No 350 7 Chart 1 Non-domestic MNE share of output across euro area countries (percentages of gross national output) 2019 2005 intra euro area intra euro area 45 40 35 30 25 20 15 10 5 0 EA IE LU SK MT NL SI BE EE LV AT LT PT DE ES FI IT FR CY GR Sources: Organization for Economic Co-operation and Development ? Activity of Multinational Enterprises (OECD AMNE) database and own calculations.
    • Intra-euro area refers to production in the respective country by firms headquartered in another euro area country.
    • While intangible assets are an important factor in production in knowledge-intensive industries, they also play a pivotal role in the tax-optimisation activities of MNEs.
    • By transferring such assets to countries with an attractive corporate tax system, MNEs can reduce the tax burden on income streams they derive from these assets.
    • Chief among these, in terms of their effect on euro area measures of output, is the classification of R&D as capital formation of IPPs.
    • ECB Occasional Paper Series No 350 9 3 MNE activities across euro area countries with area-wide impacts MNE activities may have a disproportionate impact on national output, especially for smaller countries.
    • First, intangible investment and imports of R&D services, reflecting the growing importance of intangible assets and the relative ease with which these can be relocated across borders (see Section 2).
    • For instance, the share of IPPs to GDP is larger in Ireland and Malta, as well as in France14 and Austria, than in the euro area as a whole (Chart 3).
    • Merchanting as a share of GDP is also relatively high in Ireland, Luxembourg and Cyprus.15 MNE activities in Ireland are reviewed in detail in the sub-section below.
    • 17 In Ireland, the CSO reports that ?beginning in 2008 [?], a number of multinational corporations relocated their group headquarters to Ireland.
    • Over time, the onshoring of intangible assets has boosted Ireland?s GDP by generating large exports highly concentrated with certain firms.
    • The grey range shows the minimum and maximum values for the four largest euro area countries, namely Germany, France, Italy and Spain.
    • Chart 12 Contribution of Ireland to changes in euro area real GDP (cumulated increases in euro area GDP from Q4 2014 to Q4 2023 in ? trillions) Euro area Euro area excluding Ireland Ireland 8 7 6 5 4 3 2 1 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 Sources: Eurostat and own calculations.
    • 4.3 Impact on the euro area current account Cross-border production arrangements and merchanting activities related to MNEs affect the trade balance in the euro area current account (see Box 1).
    • Notes: The green area is the net exports of the euro area as recorded in trade statistics.
    • ECB Occasional Paper Series No 350 22 Impact on euro area capital stock 4.4 Intangible asset transfers also affect euro area capital stock.
    • Andersson, M., Byrne, S., Emter, L., Gonzalez, B. and Jarvis, V. (2023), ?Intangible assets of multinational enterprises in Ireland and their impact on euro area GDP?, Economic Bulletin, Issue 3, European Central Bank, Frankfurt am Main.
    • (2021), ?The euro area capital stock since the beginning of the COVID19 pandemic?, Economic Bulletin, Issue 2, European Central Bank, Frankfurt am Main.

Wellness Workdays and Chapman Institute Join Forces to Enhance Workplace Well-being

Retrieved on: 
Monday, April 29, 2024

BOSTON, April 29, 2024 /PRNewswire-PRWeb/ -- Wellness Workdays, a leading provider of occupational health and workplace wellness programs, is thrilled to announce a strategic partnership with the Chapman Institute, a pioneer in employee wellness and results-driven wellness training and certification. This collaboration marks a significant step forward in advancing well-designed and highly effective workplace well-being initiatives.

Key Points: 
  • Wellness Workdays, a leading provider of occupational health and workplace wellness programs, is thrilled to announce a strategic partnership with the Chapman Institute, a pioneer in employee wellness and results-driven wellness training and certification.
  • BOSTON, April 29, 2024 /PRNewswire-PRWeb/ -- Wellness Workdays, a leading provider of occupational health and workplace wellness programs, is thrilled to announce a strategic partnership with the Chapman Institute, a pioneer in employee wellness and results-driven wellness training and certification.
  • As part of this partnership, Debra Wein, CEO and Founder of Wellness Workdays, has completed all 4 levels of certification and has been appointed as a Master Instructor by the Chapman Institute.
  • Larry Chapman MPH, Founder of the Chapman Institute, expressed his excitement about the partnership, stating, "Wellness Workdays has been absolutely instrumental in driving innovation and excellence in the field of workplace wellness for over two decades.

NetLogistik Named to Inbound Logistics Top 100 Logistics IT Providers Award 2024

Retrieved on: 
Tuesday, April 23, 2024

DENVER, April 23, 2024 (GLOBE NEWSWIRE) -- NetLogistik , the leader in powerful services that guide companies toward the digital transformation of the supply chain, announces the company has been selected as a Top 100 Logistics & Supply Chain Technology Provider for 2024 by Inbound Logistics magazine.

Key Points: 
  • DENVER, April 23, 2024 (GLOBE NEWSWIRE) -- NetLogistik , the leader in powerful services that guide companies toward the digital transformation of the supply chain, announces the company has been selected as a Top 100 Logistics & Supply Chain Technology Provider for 2024 by Inbound Logistics magazine.
  • NetLogistik was chosen for its implementation services and methodologies that help customers optimize and streamline supply chain operations.
  • "This is truly an honor to be named a top 100 logistics IT provider," says Jagan Reddy, Managing Director US at NetLogistik.
  • "With technology in the logistics and supply chain space evolving rapidly, it's crucial to recognize and celebrate the companies driving innovation for shippers," says Felecia Stratton, Editor of Inbound Logistics.

SME, Women in Manufacturing Expand Partnership & Co-Host Women of SMART Experience June 4

Retrieved on: 
Friday, April 12, 2024

The expansion of the partnership, which began in 2021, includes continued collaboration in the operation of two Virtual Career Fairs annually resulting in more than 900 registrants to date.

Key Points: 
  • The expansion of the partnership, which began in 2021, includes continued collaboration in the operation of two Virtual Career Fairs annually resulting in more than 900 registrants to date.
  • On June 4, 2024, SME and WiM will host the Women of SMART Experience, co-located with the SME-and AMT-produced Smart Manufacturing Experience and tuX in Pittsburgh at the David L. Lawrence Convention Center.
  • The inaugural event will offer a unique blend of leadership workshops, insightful sessions from leading women in the industry, networking opportunities, and a meaningful charitable experience.
  • Interactive breakout sessions will provide opportunities for skill-building, with expert-led workshops addressing challenges and opportunities specific to women in manufacturing.

IDTechEx Finds Electric Haul Trucks to Become a US$15 Billion Industry

Retrieved on: 
Tuesday, April 23, 2024

The ramp-up in interest from OEMs in electric haul trucks can be attributed to the rising demand from mining companies.

Key Points: 
  • The ramp-up in interest from OEMs in electric haul trucks can be attributed to the rising demand from mining companies.
  • However, IDTechEx expects electric haul trucks will need an additional five battery replacements per vehicle on average, costing an extra US$2.6 million.
  • Electric haul trucks are cheaper to operate, more productive, and far more environmentally friendly, making them the clear winner for the future of the mining industry.
  • It finds that electric haul trucks are on the cusp of significant growth, predicted to be a US$15 billion industry by 2044.

IDTechEx Finds Electric Haul Trucks to Become a US$15 Billion Industry

Retrieved on: 
Tuesday, April 23, 2024

The ramp-up in interest from OEMs in electric haul trucks can be attributed to the rising demand from mining companies.

Key Points: 
  • The ramp-up in interest from OEMs in electric haul trucks can be attributed to the rising demand from mining companies.
  • However, IDTechEx expects electric haul trucks will need an additional five battery replacements per vehicle on average, costing an extra US$2.6 million.
  • Electric haul trucks are cheaper to operate, more productive, and far more environmentally friendly, making them the clear winner for the future of the mining industry.
  • It finds that electric haul trucks are on the cusp of significant growth, predicted to be a US$15 billion industry by 2044.