wage determination

wage determination

n
(Industrial Relations & HR Terms) the process of setting wage rates or establishing wage structures in particular situations
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The Labor Department is launching www.beta.SAM.gov to succeed the www.WD0L.gov website for wage determination data under the Davis-Bacon Act, plus Federal Acquisition Regulation (FAR) and Code of Federal Regulations (CFR) guidelines.
The applicable BOLI wage determination is dated January 1, 2017 with the April 1, 2017 Amendment.
They said factors of wage determination such as the productivity and the ability of employers to pay must be taken into account.
Labor market inefficiency, including high redundancy costs and low flexibility of wage determination, makes it difficult for Indonesia to follow the successful path of other Asian economies in developing labor intensive manufacturing, the report noted.
In my view, then, the best way to think about wage determination is as the product of competitive market forces, bargaining power, and institutions.
Also missing is any real discussion that would include realities such as "higher prices," "labor costs," "profits," "automation," "economic growth," or "reduced hours," all of which should be part and parcel of wage determination. Those who advocate a mandated $15 minimum wage appear to have little or no understanding of exactly how those artificial, above-market wage hikes adversely affect employers.
It also put Korea among the bottom group in terms of hiring and firing practices and flexibility of wage determination. Businesses have been complaining that labor inefficiency is prompting them to relocate their factories overseas.
In contrast, a large body of work in economics focuses on the importance of cognitive skills for wage determination. These studies typically track survey respondents from youth to adulthood and show that a "pre-market" test of cognitive skills is strongly predictive of labor market success, even after conditioning on family background, years of completed education, and other important factors.
Tunisia was also ranked poorly in the pillar "flexibility of wage determination" (129th), and in those relating to "co-operation in labor-employer relations" (128th) and the "hiring and firing practices" (126th).
The Philippines also ranked 63rd in higher education and training; 68th in technological readiness; 77th in institutions (which measures property rights, intellectual property protection, diversion of public funds and public trust in politicians, among others); 80th in the market efficiency pillar (intensity of local competition, extent of market dominance, effectiveness of anti-monopoly policy); 82nd in labor market efficiency (flexibility of wage determination, hiring and firing practices), and 86th in health and primary education.
Volume 1 is the result of a project Jun began in 2008, with the aim of studying three major questions: What are the changes that have occurred in wage determination in China since the start of the Reform and Opening Up era?
Employers yesterday have called on government to rationalize and to depoliticize approach its minimum wage determination to ensure greater flexibility and efficiency for the business sector in managing their operations rather than falling prey to political aggrandizement stressing that only curtails growth of business, the engine of growth.