One of the world's most expensive cities raises minimum wage ... by 32 cents | CNN Business

So when the Hong Kong government raised the minimum wage by a measly 32 cents on Monday, activists and community workers were scathing in their response. “We think this is unacceptable,” said Wong Shek-hung, director of the Hong Kong, Macau and Taiwan program at the charitable organization Oxfam. “It cannot cover basic needs in Hong Kong.” The new minimum wage now stands at 40 Hong Kong dollars per hour, up from the previous 37.5 Hong Kong dollars per hour.

The minimum wage does not apply to foreign domestic workers — a crucial part of the city’s economic and social fabric, who are from countries like the Philippines and Indonesia and are required by law to live in their employers’ households. Economy in upheaval Hong Kong’s economic landscape has been rocked in recent years by the Covid-19 pandemic and politics. The pandemic devastated the food, beverage, hospitality and tourism industries.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Wall Street wants clarity from Fed meeting and jobs data | CNN BusinessAfter a jam-packed week of earnings, bank drama and mixed inflation data, Wall Street doesn’t have time for a breather just yet.
La source: CNN - 🏆 4. / 95 Lire la suite »

Big banks are bidding for troubled First Republic as FDIC deadline looms | CNN BusinessFederal regulators are holding an auction for ailing regional bank First Republic, a person familiar with the matter tells CNN.
La source: CNN - 🏆 4. / 95 Lire la suite »

US Chamber of Commerce warns of major increase in risks for businesses in China | CNN BusinessThe United States Chamber of Commerce has warned that rising scrutiny of American firms in China “dramatically increases” the uncertainties and risks of doing business in the country.
La source: CNN - 🏆 4. / 95 Lire la suite »

JPMorgan Chase to buy most First Republic assets after bank fails | CNN BusinessJPMorgan Chase is buying most assets of First Republic Bank after the nation's second largest bank failure ever, in a deal announced early Monday that protects the deposits of the lender's customers.
La source: CNN - 🏆 4. / 95 Lire la suite »