Ítalo Atencio, president of the National Association of Supermarkets and Self-Service Stores (ANSA) in Venezuela, indicated that the supermarket sector has shown positive growth since the beginning of 2016, reaching 10 %.

Atencio highlighted an increase in mass consumption in the country, with sales concentrated in “essential items such as basic foods, hygiene and cleaning products.”

According to the executive, “over the past 12 months, there has been a progressive migration of consumers from small grocery stores and bodegas to large supermarket chains,” citing as the main reasons for this shift “the stability of supply — with a 97 % supply index — and strict adherence to the official exchange rate of the Central Bank of Venezuela (BCV).”

On the other hand, Atencio clarified that despite this growth in volume, household spending in Venezuela remains geared towards a subsistence economy. The industry association pointed out that “between 60 % and 65 % of Venezuelans’ income is allocated exclusively to food and personal hygiene.”

M.Pino

Source: alnavio

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La entrada ANSA reports 10 % growth in supermarket sector apareció primero en Bitfinance.

In an interview with Unión Radio, the vice president of the Bolivarian Socialist Workers’ Central (CBST), Orlando Pérez, pointed out that the entity is in talks with the government to analyze strategies to improve workers’ salaries.

Given the scenario of hyperinflation and dollarization of the economy, the monthly income of Venezuelans prevents covering fundamental needs due to the loss of purchasing power.

In this sense, Pérez declared: “The Central and the national government are sitting down to review, to evaluate and find a solution for the month of October for all workers.”

He stressed the importance of an “agreement between the Government, Fedecámaras and merchants so that workers’ income maintains its value.”

The vice president of the CBST said that given the economic situation in Venezuela, any increase in the income of Venezuelans should be accompanied by other measures. It is essential to address the problem of “social and salary security.”

M.Pino

With information from national media and social networks

(Referential image source: Unsplash, in collaboration with Vitalii Khodzinskyi)

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La entrada Government evaluates alternatives to improve the salary of Venezuelan workers apareció primero en Bitfinance.

In a recent report, the US Federal Reserve (FED) projected a slowdown in wage growth for the second half of the year, attributing it to rising labor costs. These costs, in large part, are the result of the Fed’s decisions to increase interest rates in order to control inflation.

The forecast, presented in the central bank’s “beige book”, anticipates a decline in wage growth in the short term. The Fed has noted that labor cost pressures have been significant in most districts, and in many cases have exceeded expectations in the first half of the year. This analysis is based on data provided by the different regional Federal Reserves, collected over the last two months.

In this context, a slowdown in job creation has been observed throughout the country during the same period, with a contraction in the hiring rate. According to the Bureau of Labor Statistics (BLS), job creation in August reached 187,000 positions, a figure below the average for the last twelve months, which was 271,000.

Furthermore, the unemployment rate increased by three tenths in August, reaching 3.8 %. Although still low, this increase reflects the eleven consecutive interest rate increases implemented by the FED since March 2022.

Despite the slowdown in hiring, the Fed highlights that imbalances in the labor market persist, with a limited supply of skilled workers and a reduced number of available applicants, as reported in the beige book.

In its analysis, the Federal Reserve also assessed price growth and noted an overall slowdown in most districts, especially in the manufacturing and consumer goods sectors.

The report reveals that while consumer spending on tourism beat expectations, retail spending elsewhere continued to slow, especially for non-essentials. This suggests that consumers may be depleting their savings and relying more on loans to maintain their spending levels.

The Federal Reserve has scheduled its next meeting on September 19 and 20, in which a decision will be made regarding the continuation or pause in the rise in interest rates.

K. Tovar

Source: Bancaynegocios

(Referential image source: Alexander Grey, Unsplash)

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La entrada The FED forecasts a drop in US wage growth apareció primero en Bitfinance.

The economist Luis Oliveros has indicated this Monday, after no adjustment was made to the workers’ wages, that in Venezuela a new system is required to set the amount earned by the working mass in the country.

According to Oliveros, it is necessary to increase what is needed; what a person needs to cover their basic requirements. The specialist indicated that a reference salary could be located at US$ 500. However, if the Venezuelan government is not able to reach that amount, “it can take it to US$ 50, US$ 80 or US$ 100.”

The academic also stresses that by taking the US$65 per month that workers in Venezuela earn on average to the World Bank metrics, this translates into just US$2 per day. “That is poverty,” Olivares said.

In the economist’s opinion, Venezuela has resources that could well be used to make a better salary adjustment, but there is a management problem. Hence, the need to find a new wage setting system that benefits the population.

M.Pino

Source: finanzasdigital

(Reference image source: Igal Ness, Unsplash)

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La entrada Venezuela requires a new wage setting system apareció primero en Bitfinance.

Inflation has impacted or will negatively impact the cost of the school year for Spaniards, who will spend an average of 419 euros per child, although they see digital tools as a way to save between 11 % and 30 %.

Compared to last year, an increase in the average cost per child of 94.84 euros is perceived. The autonomous communities most affected by inflation are Asturias, Canarias, Aragón, Castilla y León and the Community of Madrid. This is how a recent survey carried out by the GoStudent private class platform collects it.

53 % of Spaniards allocate between 11 % and 30 % of their salary to expenses related to going back to school and consider that the use of digital tools can help minimize this expense: 43 % of parents in our country think that, for example, e-books or online tutoring could help them save considerably.

On the other hand, those surveyed affirm that this year the cost per child will rise to 419 euros on average compared to 324 euros the previous year, which represents an increase of almost 30 %. The great part of this expense comes from the purchase of books and school supplies, uniforms as well as extracurricular and support activities (73 % of Spanish parents have enrolled their children in private classes at least once and 52 % are considering it) for the new course.

Another of the noteworthy aspects of the study is that 72 % consider private online classes as a good way to save resources, thanks to their flexible nature and variety of schedules. And, more specifically, almost 50 % of those surveyed affirm that the use of private online classes will help save on their children’s academic training during this course.

New technologies stand out in the educational sector

The students that today are found in primary and secondary classrooms are digital natives and for this reason the educational sector is adopting new technologies to incorporate new ways of teaching through video games, artificial intelligence (AI) or computer science virtual reality.

The applications of technologies such as AI allow the creation of personalized educational plans for each student based on the profile and needs of each student. In Spain, 23 % of schools have adaptive learning tools. In addition, ‘online’ tutorials already account for 14 % of the total number of private classes that take place every day.

According to the GoStudent Education Report, Spanish parents have the best opinion about adaptive learning and the use of artificial intelligence in education. 55 % welcome these technologies taking part in their children’s education.

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Source: dpa

La entrada New technologies gain weight in the education sector apareció primero en Bitfinance.

Civic Science conducted a study involving 6,741 citizens over the age of 18 that found that 4 % of the US workforce “quit their job because they found financial freedom with crypto.”

While 11 % of the general population surveyed stated “having personally quit their jobs or know someone who has, as a result of their investments in cryptocurrencies”. It shows that some people are choosing to separate from formal jobs once they get better dividends with the investments made in the crypto ecosystem.

The firm responsible for the study did not provide any information on the percentages or amounts of profit generated by the investments in cryptocurrencies of the people who participated in the research, nor on the precise meaning of “financial freedom.” However, in previous studies the company provides more information on these types of variables.

By correlating the information from the survey carried out in mid-October of this year with the study carried out previously, where 1,201 people participated, it is shown that most of the people who quit their jobs, as a result of their investments in crypto assets are workers, belongs to the lowest strata in the income structure of organizations.

The analysis of the data shows that 64 % earned less than $ 50,000 annually, of which “27 % said they earned less than 25,000, while 37 % had a total annual income of between 25,000 and 50,000 dollars”. The percentage of resignations is gradually reduced in those sectors where incomes are higher.

According to Civic Science, investments in digital assets can generate income that impacts the quality of life of those investors who are part of the less paid working class, while those workers who obtain higher wages for their work, consider cryptocurrencies a “diversification of assets instead of a source of income.”

The great resignation

The United States is experiencing a strong and important crisis with its workforce, because every day more people do not want to go back to their formal work. The US Bureau of Labor Statistics reported that “3 million people have quit their jobs in recent months, which is equivalent to 2.9 % of the workforce and the fact has been called the” great resignation.”

Analysts consider that this phenomenon is a consequence of the pandemic. However, this new study could bring indications about what is really happening or underlying the labor crisis in the United States.

Another study carried out by Bloomberg, in which 10 unemployed people participated, highlights that workers refuse to return to their formal hours mainly due to low wages, which are lower than those received before the pandemic and to poor working conditions such as absence of sanitary protection measures to avoid Covid-19.

M. Rodríguez

Source: diariobitcoin.com

La entrada American workforce quits job and migrates to cryptocurrencies apareció primero en Bitfinance.