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I have watched the recovery of the global stock markets in recent months. The question on the minds of many people is, "Will the global economy recover soon?"
Several observers hold the view that the recovery of the global economy will take a longer time. They pointed out that unemployment is still rising, and that consumers are still hesitant to spend. They are cutting down on their spending. This leads to a contraction of demand. Businesses are still cutting back and more people will continue to be unemployed.
To reduce cost, many businesses are asking their employees to take "no pay leave" or furloughs.
British Airways has started to ask its employees to take voluntary "no pay work" for a few days in a month. They have to work to provide the customer service, but without pay. This airline is now making a loss, as this is the only way to continue its operations, until demand picks up.
For the global economy to recover, workers must be confident that they can get a job, even at the minimum wage. At least, they can plan their spending with this minimum wage. Read more...[caption id="attachment_1171" align="alignright" width="123" caption="Tan Kin Lian"][/caption]
I have watched the recovery of the global stock markets in recent months. The question on the minds of many people is, "Will the global economy recover soon?"
Several observers hold the view that the recovery of the global economy will take a longer time. They pointed out that unemployment is still rising, and that consumers are still hesitant to spend. They are cutting down on their spending. This leads to a contraction of demand. Businesses are still cutting back and more people will continue to be unemployed.
To reduce cost, many businesses are asking their employees to take "no pay leave" or furloughs.
British Airways has started to ask its employees to take voluntary "no pay work" for a few days in a month. They have to work to provide the customer service, but without pay. This airline is now making a loss, as this is the only way to continue its operations, until demand picks up.
For the global economy to recover, workers must be confident that they can get a job, even at the minimum wage. At least, they can plan their spending with this minimum wage. Read more...
[/caption]
I have watched the recovery of the global stock markets in recent months. The question on the minds of many people is, "Will the global economy recover soon?"
Several observers hold the view that the recovery of the global economy will take a longer time. They pointed out that unemployment is still rising, and that consumers are still hesitant to spend. They are cutting down on their spending. This leads to a contraction of demand. Businesses are still cutting back and more people will continue to be unemployed.
To reduce cost, many businesses are asking their employees to take "no pay leave" or furloughs.
British Airways has started to ask its employees to take voluntary "no pay work" for a few days in a month. They have to work to provide the customer service, but without pay. This airline is now making a loss, as this is the only way to continue its operations, until demand picks up.
For the global economy to recover, workers must be confident that they can get a job, even at the minimum wage. At least, they can plan their spending with this minimum wage. Read more...
