Month: April 2022

Bloomberg: США і ЄС обговорюють варіанти скорочення нафтових доходів Росії

Обговорюють повну заборону постачання, встановлення цінового порога і використання розрахункового механізму, який дозволить утримати виручку Росії, отриману з початку війни проти України

Workers Make Gains as ‘Great Resignation’ Tightens Labor Markets

When the coronavirus pandemic hit New Orleans in March 2020, Jeremy Fogg, an executive pastry chef at a popular local restaurant, suddenly found himself without a job.

Fogg was far from alone. In the first few months of the crisis, approximately 22 million Americans lost their jobs, with millions more seeing their hours cut.

“For the first stretch of the pandemic, I just kind of sat at home and waited for my job to call and tell me we were reopening,” he said. “But as the months went by without a call, I worried I’d run out of money. I opened my own pop-up bakery and began teaching baking at a local college.”

The call to return to work eventually came. When it did, Fogg responded in a way he never would have expected at the onset of the pandemic.

“I told them I wasn’t coming back.”

‘Great Resignation’

Fogg’s decision underscores a larger trend in America over the past two years — one that many experts believe has shifted at least some of the power in the country’s labor market from employers to employees.

The phenomenon is called the “Great Resignation,” in which millions of workers chose not to return to the workforce or traditional positions after the sweeping job losses in the early months of the pandemic.

Many who did return to work have since left their jobs — 47 million U.S. workers quit in 2021. Nearly one in five nonretired adults left their job at some point that year, with the nation’s “quit rate” reaching a 20-year high in November, according to the Pew Research Center.

“I think a lot of us realized during the pandemic that we wanted something different than what we were settling for,” Fogg told VOA.

Some people he worked with before the pandemic left New Orleans to be closer to family. Others switched to careers less demanding than the service industry. Still others moved to service industry jobs with better pay or benefits. Fogg said he got a taste of the rewards of working for himself and didn’t want to go back.

“We realized we deserved better from our jobs, and it’s given us the courage to ask for what we think we deserve,” he said.

Tight labor market

Patrick Button, a professor of economics at Tulane University, said the recession caused by COVID-19 is unlike other recent recessions in the United States.

“Typically, recessions were an issue of demand. Employers weren’t interested in hiring, and people were shut out of the workforce,” Button told VOA. “What we’re experiencing now, however, is a supply-side issue. There is a demand for workers by employers, but workers aren’t eager to return.”

That has forced many employers to meet workers’ demands for better pay and benefits, Button explained.

“Employers are having a difficult time hiring workers, and when they do, they’re having a tough time getting them to stay,” he said. “In order to compete against other businesses for workers, many companies are raising wages and offering a better work environment.”

The trucking industry, for example, had struggled to retain drivers for years before the pandemic as the baby boomer generation retired from the workforce. This has caused supply chain issues across the country.

Sherri Brumbaugh, president and CEO of Garner Trucking Inc., said the driver shortage has become more challenging since the Great Resignation.

“It’s the most difficult hiring situation I’ve ever experienced,” she told VOA.

Older generations, Brumbaugh said, were more accepting of the hardships that come with “life on the road.” Younger drivers, however, have different expectations.

“They don’t want to be away from their families for a week at a time, and they don’t accept waiting for hours at truck stops because freight hasn’t arrived,” she said. “There was a time when maybe we didn’t have to. But now, if we’re going to attract new drivers, we have to adjust to what potential employees are looking for.”

Service industry struggles

Leisure and hospitality workers have reportedly left their jobs at more than twice the national average.

Those in the industry say this trend began pre-pandemic and is resulting in more options for employees.

“There are a lot more jobs out there, and quite frankly, the industry has been slow to respond,” said Jay Frisard, who was a regional manager overseeing multiple restaurants for 25 years before switching careers to the logistics industry during the pandemic.

“Wages are higher for service industry workers now, but it’s still often a life that sucks — long hours, constantly on your feet, angry customers. It’s not easy,” he said.

Eric Cook, who owns two restaurants in New Orleans, including the award-winning Gris-Gris, agrees that restaurant work can be grueling, which may be why he and his industry peers are having difficulties filling positions.

“I think when restaurants and bars were closed during the pandemic, a lot of workers explored other industries,” Cook said. “For me, cooking food is about sharing our culture, and that’s rewarding. But I think for a lot of people, if they found work in another industry, they saw that they can make money while sitting at home and without as much stress.”

To stay competitive, Cook raised salaries from $12 and $14 an hour to $22, and he’s offered more salaried positions. Even so, he hasn’t been able to hire enough staff to open his restaurants full time.

“People keep saying, ‘Pay more. Pay more!’ But I can’t go much further without losing money,” he said. “It’s not like I’m making money doing this as it is. People see a full restaurant and think it’s a gold mine, but with being closed during the pandemic, and now rising labor costs and through-the-roof inflation, figuring out how to make a profit at a restaurant is like trying to land on the fricking moon.”

Effects that last?

A survey from the Pew Research Center found that low pay, a lack of opportunities for advancement and feeling disrespected at work are the top reasons Americans quit their jobs last year.

“For the most part, those who quit their jobs are finding new ones easily,” Pew’s associate director of research, Juliana Horowitz, told VOA. “That gives people more courage to find something better.”

According to the survey, the decision to seek new work is paying off.

“The majority of respondents are earning more money, and they’re finding work with more advancement opportunities,” Horowitz said.

Some believe the effects of the Great Resignation are being overstated. A recent Harris Poll survey for USA Today said that one in five people who resigned during the pandemic regretted it.

Chris Smalls, a former Amazon warehouse worker who spearheaded the successful campaign to bring the first unionized workplace in the technology giant’s history, mocked the idea that the trend is harming employers.

“When you quit your job, guess what? They hire somebody else,” Smalls, now president and founder of the Amazon Labor Union, told NPR in an interview.

But while economists like Button note that much of the wage gains earned by workers have been offset by inflation, they believe at least some of the gains made by laborers in the past year are meaningful and will be permanent.

“Of course, not everything we’ve seen will linger,” he said. “But employers are seeing that things like the ability to work from home, flexible hours and benefits such as sick pay are important. And I think those changes will stay to some degree.”

Whether it’s stronger unions, leaving a job for a better opportunity, or in his case, starting his own business, Fogg believes the Great Resignation has helped empower many workers to evaluate what they want out of a job.

“There’s nothing wrong with standing up for yourself and not accepting less than you deserve,” he said. “I think a lot of us are finally realizing that.”

Tourists Return to Kashmir as COVID Wanes

Tourist operators in the Indian-administered Kashmir Valley are celebrating a return of visitors after several lean years prompted by COVID-19 and — before that — unrest over India’s revocation of the region’s special constitutional status and autonomy.

The Srinagar Airport Authority reported almost 15,000 tourists in the Jammu and Kashmir capital aboard 106 flights on a single day this week. That compares to an average of about 30 flights a day two years ago.

Hotels in the valley are packed and fully booked until June, according to Tariq Rashid Ghani, secretary general of the Jammu and Kashmir Hoteliers Club. “We are hopeful to break all the previous records this year,” he said in an interview.

Authorities say visitors are overwhelmingly from India, attracted by an aggressive promotional campaign within the country and an easing of COVID-19 pandemic limits, which made Indians eager to travel. Foreign visitors accounted for only about 1,000 of the record 340,000 visitors to the scenic valley in the first three months of this year.

“With the steady decline in COVID-19 cases in India, people are encouraged and dare to travel. Like Kashmir, many other hilly states are witnessing similar type of tourist rush,” said Rauf Tramboo, president of the Adventure Tour Operators Association of Kashmir.

Anamika Shil, a tourist from Kolkata, who works for a domestic airline, told VOA she only regretted having not come to Kashmir sooner, having been frightened away by media reports of disturbances and violence. “Not only the stay but I am enjoying the food as well,” she said.

Nevertheless, security is still a concern. According to the South Asia Terrorism Portal, a website that monitors terrorism and low intensity warfare in South Asia, there have been 48 violent incidents in Indian-administered Kashmir already this year, killing 11 civilians and 11 security forces along with 54 insurgents.

Tourism to the valley, famed for its dramatic Himalayan landscapes and pristine lakes, fell off dramatically after the New Delhi government withdrew the region’s special status on August 5, 2019. The action was accompanied by a harsh crackdown in which social media platforms and many other forms of communication were cut off.

By the time the security situation was stabilizing, the coronavirus pandemic was in full swing around the world, sharply reducing interest in tourism, both foreign and domestic. International arrivals in the valley fell to 3,897 in 2020 and just 1,615 last year.

But now, a reluctance to journey abroad among Indian vacationers is working to the region’s advantage, according to G.N. Itoo, the director of Tourism Kashmir.

“People who would otherwise go to Europe and other countries preferred to come to Kashmir [while] restrictions were in force on international travel. Secondly we created good experiences like houseboat festival, sufi festival, winter carnival and many more which created a buzz,” he told VOA.

Dramatic scenery has always been the biggest draw for visitors to Kashmir, who account directly for nearly 8% of its gross domestic product and indirectly for more through patronage of its crafts and cottage industries.

But this year’s tourist season got off to an early start with a banner year for winter sports in Gulmarg, a ski resort high in the Himalayan mountains. Tramboo said almost 1,700 skiers, snowboarders and others from 17 Indian states took part this year.

Other attractions that have contributed to the tourist resurgence include Shri Amarnath, a Hindu temple set in a cave high in the in the snow-capped mountains. Authorities expect that close to 1 million pilgrims will trek to the shrine this year, setting an all-time record.

Another draw is Asia’s largest tulip garden, sprawling across some 30 hectares in the foothills of the Zabarwan range in Srinagar. Farooq Ahmad Rather, director of Floriculture Kashmir, said more than 360,000 visitors, including local residents, came to witness this year’s spring bloom.

Most famous of all the valley’s attractions is Srinagar’s Lake Dal, where visitors can see the mountains reflected in the waters as they circle the lake in small boats known as shikara or arrange a stay in a luxurious houseboat moored to the shore.

Пожежа в інституті Міноборони РФ – кількість загиблих зросла

Кількість жертв пожежі у російській Твері, в адміністративному корпусі наукового інституту Міноборони зросла до шести, повідомляють російські ЗМІ. Щонайменше 27 людей постраждали.

Повідомляється, що більшість людей травмувалися, вистрибуючи з вікон. Пожежа поширилася на тисячу квадратних метрів.

У Центральному НДІ Повітряно-космічних сил у Твері досліджують проблеми повітряно-космічної оборони. За неофіційними повідомленнями, цей інститут брав участь у розробці ракетних комплексів «Іскандер», зенітних систем тощо.

Британія запровадила санкції проти 26 фізичних та юридичних осіб із Росії

До санкційного списку, зокрема, потрапили командувач Силами спеціальних операцій РФ, перший заступник начальника Генштабу Збройних сил РФ та колишній міністр оборони РФ

Байден виступить із заявою щодо України й оголосить про новий пакет військової допомоги – ЗМІ

Новий пакет, ймовірно, складатиме стільки ж, скільки й оголошена минулого тижня допомога у 800 мільйонів доларів, але деталі ще уточнюють

US, Canada, UK Walk Out of G-20 Meeting Over Russia’s Participation

Senior leaders of the United States, Canada and the United Kingdom walked out of a meeting of the Group of 20 major economies on Wednesday in protest of the G-20’s decision to allow Russian officials, including Finance Minister Anton Siluanov, to participate.

The U.S. and other members of the G-20 had called on Indonesia, which holds the rotating chair of the organization, to bar Russia from the meeting over its invasion of Ukraine. The fact that Russia was allowed to participate highlights the significant fractures within the organization in addressing the war in Ukraine. 

Although Ukraine is not a member of the G-20, Ukrainian Foreign Minister Dmytro Kuleba and Finance Minister Serhiy Marchenko were invited to attend the meeting. In remarks at the beginning of the session, Kuleba vowed that Ukraine would not cede territory to Russia as part of peace negotiations. Both Kuleba and Marchenko joined the walkout.

In his remarks, Siluanov warned against politicizing dialogue among member states, saying that it might harm the global economy.

Major split

While the U.S., U.K., France, Germany, Japan and Canada — some of the largest members of the G-20 — have forcefully condemned Russia’s actions in Ukraine and fully participated in a regime of tough economic sanctions, many others have not. The latter include China, Indonesia, India and South Africa.

On Wednesday morning, Treasury officials told the Reuters news organization that Treasury Secretary Janet Yellen had spoken with Indonesian Finance Minister Sri Mulyani Indrawati the day before the meeting. In a statement, the department said, “Secretary Yellen firmly condemned Russia’s brutal invasion of Ukraine, and emphasized there will be no business-as-usual for Russia in the global economy.”

The statement continued: “Secretary Yellen emphasized that the United States will continue to work in solidarity with Indonesia to advance the important business of the G-20, including addressing the negative impacts of Russia’s invasion on the global economy.”

Yellen had signaled her intention to avoid meetings in which Russia participated in comments on April 7, when she reiterated U.S. President Joe Biden’s call to expel Russia from the organization.

On Wednesday, Canadian Deputy Prime Minister and Minister of Finance Chrystia Freeland tweeted, “This week’s meetings in Washington are about supporting the world economy — and Russia’s illegal invasion of Ukraine is a grave threat to the global economy. Russia should not be participating or included in these meetings.”

A plea for cooperation

The G-20 was founded in 1999, but it became a force on the world stage during the global economic crisis of 2008-09, when it served as the coordinating body for a series of policy responses that many economists credit with preventing far greater economic damage.

More recently, the group was central in the development of a plan to impose mandatory minimum taxes on international businesses to prevent a “race to the bottom” as countries competed to attract companies with ever-lower tax rates.

On Wednesday, International Monetary Fund Managing Director Kristalina Georgieva called on G-20 members to continue cooperating to address major global problems, calling the organization “crucial to sustain the momentum on collective efforts to deliver on global ambitions for the common good.”

She added, “We also recognize how interdependent we are …  and it is so obvious that cooperation must and will continue.”

Future effectiveness questioned

Experts, however, are now concerned that the G-20 may struggle to lead on some of the key issues that its members have identified as important, including climate change and global food shortages, because of disagreements about Russia’s continued participation.

“We have a real need for a group like that, to sit down and try to come up with practical solutions,” Matthew Goodman, senior vice president for economics at the Center for Strategic and International Studies, told VOA. “But it’s very difficult to see how that’s going to happen under the current circumstances. There’s a substantial group that doesn’t want to work with Russia right now, and there’s another substantial group that isn’t willing to talk or agree to things without Russia at the table. So, it’s hard to see how you get out of that.”

Goodman, who helped organize G-20 summits during the Obama administration, said it was possible that there might be some “lowest common denominator” issues that the entire G-20 could agree on despite its internal divisions. But he wasn’t holding out much hope.

“It’s just hard to see how this group really delivers on anything,” he said.

Summit in doubt

Unlike the annual G-20 summit, which is normally attended by heads of state, Wednesday’s meeting in Washington involved member states’ finance ministers and central bank governors.

This year’s summit, scheduled for November, will be held in Bali, in recognition of Indonesia’s position as chair. Indonesian President Joko Widodo has indicated that Russian President Vladimir Putin will be welcome in Bali, prompting protests from other group members and suggestions that a boycott might take place.

Last month, Australian Prime Minister Scott Morrison said, “The idea of sitting around a table with Vladimir Putin, who the United States are already in the position of calling out [for] war crimes in Ukraine, for me is a step too far.”

The Biden administration has not made an official statement about the president’s plans for the Bali summit. In a press conference on April 7, press secretary Jen Psaki noted that the meeting was seven months away, “a lifetime.”

A history of expulsions

If Russia were excluded from the G-20 — a prospect that most experts view as unlikely — it would not be the first time the country had been ousted from a prestigious international organization.

Russia’s membership in the G-7 group of some of the world’s largest economies (at the time, the G-8) was suspended in 2014 after it invaded and took over Ukraine’s Crimean Peninsula.

Russia formally left that organization in 2017 and expressed no interest in rejoining it, even after then-U.S. President Donald Trump and then-Italian Prime Minister Giuseppe Conte called for its reinstatement in 2018. The G-7’s other members rejected the proposal unanimously.