Method

Wage developments and their determinants since the start of the pandemic

Retrieved on: 
Monday, January 16, 2023

= Wage developments and their determinants since the start of the pandemic =

Key Points: 
  • = Wage developments and their determinants since the start of the pandemic =
    Published as part of the ECB Economic Bulletin, Issue 8/2022.
  • The coronavirus (COVID-19) pandemic has greatly affected labour markets and wage growth indicators in the euro area.
  • The combination of these factors has made assessing underlying wage pressures and the outlook for wage growth extremely challenging.
  • Wage growth indicators have been extremely volatile since the start of the pandemic, partly owing to the impact of job retention schemes, complicating the assessment of wage developments.
  • Different statistical treatments of these support measures have also made it difficult to compare wage developments across euro area countries.
  • In this unusual economic environment, standard empirical models provide only limited help in analysing wage developments in the euro area.
  • Normally, wage developments can be assessed against empirical regularities by observing the Phillips curve, which links wage growth to economic or labour market slack, past and/or expected inflation, and productivity.
  • This article discusses wage developments and the main factors that have influenced them since the start of the pandemic.
  • First, it reviews developments in a broad range of wage measures for the euro area since the start of the pandemic and discusses their usefulness as signals of wage pressures.
  • Second, the article looks at how wage developments have differed across sectors, reflecting the heterogeneous impact of the pandemic shock.
  • A key indicator in the assessment of wage growth in the euro area is the annual growth rate of compensation per employee.
  • The differences in the growth rates of different wage measures have moderated over time but remain substantial.
  • For example, in the second quarter of 2022 indicators of year-on-year wage growth ranged from 2.4% (negotiated wages) to 4.5% (compensation per employee).
  • Total labour input at the start of the pandemic fell substantially, by around 16%, owing mainly to the drop in hours worked per employee.
  • CPE growth can be decomposed into negotiated wages, social security contributions, hours worked per employee and the residual wage drift.
  • A principal component analysis of wage growth indicators and negotiated wage growth can also be used to assess underlying wage measures.
  • [10] Estimating the common drivers across a range of wage indicators also suggests that wage pressures have remained moderate.
  • Another way to mitigate the impact of pandemic-related distortions in the assessment of wage pressures is to estimate underlying wage growth pressures across different wage indicators.
  • Overall, underlying wage growth has been relatively moderate since the start of the pandemic, and it now stands close its long-term trend.
  • Wage growth has varied greatly across the main sectors of the economy since the start of the pandemic.
  • This is because developments in wage growth as a cost factor were broadly similar to those for the price of output.
  • Developments in real producer prices have diverged strongly across different sectors of the economy, with implications for expected wage and price pressures.

FTC Announces Members of Stop Senior Scams Act Advisory Committees Aimed at Protecting Older Adults Against Scams

Retrieved on: 
Friday, December 16, 2022

Following the first meeting of the Federal Trade Commissions Scams Against Older Adults Advisory Group in September, the FTC has announced the agencies, organizations, and other participants that will be represented on the advisory groups committees.

Key Points: 
  • Following the first meeting of the Federal Trade Commissions Scams Against Older Adults Advisory Group in September, the FTC has announced the agencies, organizations, and other participants that will be represented on the advisory groups committees.
  • The committees will address different areas focused on protecting older adults from scams, including consumer education and outreach, industry training, technology and new methods for detecting scams, and scam prevention research.
  • More information about the advisory group and the full list of committee members can be found on the FTCs website.
  • Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.

Stick with Security: Store sensitive personal information securely and protect it during transmission

Retrieved on: 
Friday, December 16, 2022

Careful companies take the advice of Start with Security by storing sensitive personal information securely and protecting it during transmission.

Key Points: 
  • Careful companies take the advice of Start with Security by storing sensitive personal information securely and protecting it during transmission.
  • Hackers cant steal what you dont have, so collect and maintain confidential data only if you need it.
  • Asking customers for sensitive information on the off chance you might use it someday for something isnt a sound policy.
  • The wiser practice is to sensibly limit what you collect and then store it securely.
  • Encryption is the process of transforming information so that only the person (or computer) with the key can read it.
  • Companies can use encryption technology for sensitive data at rest and in transit to help protect it across websites, on devices, or in the cloud.
  • You cant keep information secure unless you have a clear picture of what you have and where you have it.
  • By not storing that information securely, the retailer has increased the risk of unauthorized access.
  • The business uses appropriate encryption to secure the information when its sent from the customers browser to the companys server.
  • By encrypting the initial transmission of information, the real estate company has taken a prudent step to keep it safe.

The NIST Cybersecurity Framework and the FTC

Retrieved on: 
Tuesday, November 29, 2022

We often get the question, If I comply with the NIST Cybersecurity Framework, am I complying with what the FTC requires?

Key Points: 
  • We often get the question, If I comply with the NIST Cybersecurity Framework, am I complying with what the FTC requires?
  • In February 2013, President Obama issued Executive Order 13636, Improving Critical Infrastructure Cybersecurity, which called on the Department of Commerces National Institute of Standards and Technology (NIST) to develop a voluntary risk-based Cybersecurity Framework for the nations critical infrastructurethat is, a set of industry standards and best practices to help organizations identify, assess, and manage cybersecurity risks.
  • NIST issued the resulting Framework in February 2014.
  • The Framework provides organizations with a risk-based compilation of guidelines that can help them identify, implement, and improve cybersecurity practices.
  • The Framework does not introduce new standards or concepts; rather, it leverages and integrates cybersecurity practices that have been developed by organizations like NIST and the International Standardization Organization (ISO).
  • Identify helps organizations gain an understanding of how to manage cybersecurity risks to systems, assets, data, and capabilities.
  • Protect helps organizations develop the controls and safeguards necessary to protect against or deter cybersecurity threats.
  • The Framework breaks down each of these functions into additional categories and then provides helpful guidance.
  • As the Framework recognizes, theres no one-size-fits-all approach to managing cybersecurity risk.
  • But thats the benefit of the Framework: Its not a checklist, but rather a compilation of industry-leading cybersecurity practices that organizations should consider in building their own cybersecurity programs.
  • Section 5 of the FTC Act is the primary enforcement tool that the FTC relies on to prevent deceptive and unfair business practices in the area of data security.
  • Since 2001, the FTC has settled some 60 cases against companies the FTC alleges failed to provide reasonable protections for consumers personal information.
  • By identifying different risk management practices and defining different levels of implementation, the NIST Framework takes a similar approach to the FTCs long-standing Section 5 enforcement.
  • Many FTC cases highlight companies alleged failures to implement reasonable data security practices that the Framework emphasizes under the
    Protect function.
  • FTC orders demonstrate the importance of this function, emphasizing how consumer interests should factor into a companys recovery plan.

2022 Gallagher Research Finds "Appealing to a Diverse Workforce" is the Top Challenge for U.K. Organisations Competing for Talent

Retrieved on: 
Thursday, November 17, 2022

Data also reveals that 23.5% are going to change their delivery method and the same percentage are looking into changing their benefit provider.

Key Points: 
  • Data also reveals that 23.5% are going to change their delivery method and the same percentage are looking into changing their benefit provider.
  • These findings reinforce the need to treat menopause like any other important workplace topic such as bullying.
  • Research conducted by Opinium Research on behalf of Gallagher, 15th July 19th July 2022, amongst a nationally representative sample of 2,000 U.K. adults.
  • Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois.

Cognata Named CES 2023 Innovation Awards Honoree in the Smart Cities Category

Retrieved on: 
Thursday, November 17, 2022

REHOVOT, Israel, Nov. 17, 2022 /PRNewswire/ -- Cognata today announced that it has been named a CES 2023 Innovation Awards Honoree for its 4D Urban Planning Engine in the Smart Cities Category.

Key Points: 
  • REHOVOT, Israel, Nov. 17, 2022 /PRNewswire/ -- Cognata today announced that it has been named a CES 2023 Innovation Awards Honoree for its 4D Urban Planning Engine in the Smart Cities Category.
  • "Cognata is committed now more than ever to the smart cities and auto-tech ecosystems and works vigilantly to advance smart mobility", says Danny Atsmon, CEO & Founder of Cognata.
  • * *
    This year's CES Innovation Awards program received a record-high number of over 2100 submissions.
  • The announcement was made ahead of CES 2023 , the world's most influential technology event, happening Jan. 5-8 in Las Vegas, NV.

New Study Shows That Aroma-Not THC-Drives the Cannabis Consumer Experience

Retrieved on: 
Wednesday, November 16, 2022

HILLSBORO, Ore., Nov. 16, 2022 /PRNewswire-PRWeb/ -- In a new study published in the journal Psychoactives, some of the most influential minds in the industry today are breaking down the current understanding of what makes a "quality" cannabis experience. And to do so, they've done something even more groundbreaking: they've asked the consumer.

Key Points: 
  • Groundbreaking new study led by True Terpenes Science Board members Dr. Ethan Russo and Jeremy Plumb shows correlation between cannabis aroma -- not THC -- and consumer enjoyment.
  • The study is revolutionary in its stated purpose: "to objectively identify features of cannabis that contribute to its appealing subjective effects."
  • In other words, to apply scientific methods to understanding what the consumer actually enjoys.
  • This study lays the groundwork for a redefinition of value, based on the enjoyment of the consumer, as reported by the consumer.

Revamped Farmer's Organic Gin Produced Farm To Glass In Idaho Launching Across The United States

Retrieved on: 
Wednesday, November 16, 2022

NEW YORK, Nov. 16, 2022 /PRNewswire/ -- Chatham Imports is launching a revamped Farmer's Organic Gin produced in partnership with a family farm and a world-class organic distillery, both located in Idaho.

Key Points: 
  • NEW YORK, Nov. 16, 2022 /PRNewswire/ -- Chatham Imports is launching a revamped Farmer's Organic Gin produced in partnership with a family farm and a world-class organic distillery, both located in Idaho.
  • With hemp seed as one of its botanicals, this product will be available for sale throughout the United States.
  • Experience the full interactive Multichannel News Release here: https://www.multivu.com/players/English/9109651-farmers-organic-gin-launch
    Farmer's Organic Gin is USDA certified organic, gluten free and contains no carbs or sugar.
  • I appreciate their trusting us to supply the organic wheat used to create this outstanding gin," said Cornie.

Streamline Scientific and UroGPO Form Partnership to Offer Physician Office Lab Implementation and Consulting Services of PCR Technologies for UroGPO Members

Retrieved on: 
Wednesday, November 16, 2022

"This partnership is a seamless extension of our mission at Streamline Scientific," Streamline Scientific's CEO Ted Kramm said.

Key Points: 
  • "This partnership is a seamless extension of our mission at Streamline Scientific," Streamline Scientific's CEO Ted Kramm said.
  • The experts at Streamline Scientific provide end-to-end consultation services for physician practices and reference labs across the country as they implement in-house PCR labs.
  • Streamline Scientific is a team of medical doctors and scientists working to simplify the delivery of molecular technologies.
  • As experts in PCR in-house lab setup and operation, their consulting services provide an end-to-end implementation solution for physician practices and reference labs nationwide.

Concord Medical Announces the Successful Holding of the Second Annual Academic Meeting with the world well-known MD Anderson

Retrieved on: 
Wednesday, November 16, 2022

12 experts from MD Anderson participated in the Meeting, including nine of which as guest speakers and three as moderators and opening speakers.

Key Points: 
  • 12 experts from MD Anderson participated in the Meeting, including nine of which as guest speakers and three as moderators and opening speakers.
  • Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, commented, "I would like to express my heartfelt thanks to the experts who spoke on and participated in the Meeting.
  • MD Anderson is one of the best-known cancer treatment centers globally and the largest cancer center in the United States.
  • Leveraging years of strategic cooperation, MD Anderson and Shanghai Concord Cancer Center successfully cohosted the First Annual Academic Meeting in November 2021.