劳工部长马林·皮莱蒂奇将克罗地亚的工资水平与斯洛文尼亚的工资水平进行比较，指出2016年克 罗地亚的最低工资是斯洛文尼亚最低工资的50%，而如今这一数字已达到75%。另一方面，就平均工资 而言，克罗地亚的工资水平已从斯洛文尼亚平均工资的72%上升至90%。并重申克罗地亚失业率目前处 于历史低位。克政府的目标是通过社会对话、鼓励经济发展和采取措施降低劳动力成本，使最低工资与 平均工资和中位数工资一起持续上涨。 （原标题：克罗地亚劳动力成本激增） 据克通社9月24日报道，克罗地亚雇主协会（HUP）首席执行官伊雷娜·韦伯表示，近年来克罗地亚 的劳动力成本"爆炸式增长"，行政费用的增加使劳动力成本超过了生产力水平。自2019年以来，最低工 资上涨了92%，劳动力成本上涨了61.6%，是欧盟平均涨幅的2.5倍。同期公共部门的工资预算在两年内 增长了58%，公共部门平均工资与实体经济平均工资之间的差距处于历史最高水平，差距达到32.3%。 她认为，造成劳动力成本大幅上涨的部分原因是当地工人的生产效率低下，克罗地亚经济在竞争力方面 正在落后。 ...

Core Viewpoint - The article discusses the economic conditions in Northeast China, highlighting its low cost of living and the underlying factors contributing to this phenomenon, including low wages, high reliance on state-owned enterprises, and demographic challenges such as aging population and out-migration [4][15][39]. Group 1: Cost of Living - Northeast China is perceived as a "low-price paradise," where even a monthly salary of 3000 yuan allows for a comfortable lifestyle [4][5]. - The prices of food and services in Northeast cities like Harbin are significantly lower compared to southern cities, with examples showing meals costing as little as 9 yuan for a dish [10][11]. - The affordability extends to clothing and services, with winter clothing priced much lower than in other regions [13][14]. Group 2: Wage Levels - Wage levels in Northeast China are notably low, with personal income tax contributions in Harbin being significantly lower than in cities like Zhuhai, despite Harbin's larger population [18]. - In 2023, the average wages for urban non-private units in the three northeastern provinces ranked among the lowest in the country [19]. - The average disposable income in 2024 for residents in Jilin and Heilongjiang is below the national median, indicating economic struggles [20]. Group 3: Economic Structure - The high proportion of state-owned enterprises in Northeast China contributes to the low wage levels, with state-owned sectors dominating the job market [21][24]. - The reliance on large state-owned enterprises has created a social structure that favors employment in these entities, limiting the growth of small and medium-sized enterprises [25][26]. - The economic performance of state-owned enterprises in Northeast China is poor, with many reporting low profit margins and significant losses [31][37]. Group 4: Demographic Challenges - Northeast China faces significant demographic issues, including a declining birth rate and an aging population, which are exacerbating economic challenges [39][40]. - The region has experienced substantial population outflow, with over 1.1 million people leaving from 2015 to 2024, further reducing the consumer base [41]. - The phenomenon of "bird migration" where many residents spend winters in warmer regions like Hainan is also noted, impacting local consumption patterns [42][43]. Group 5: Future Outlook - Despite current challenges, there are signs of potential economic recovery, particularly in the realm of exports, which have been increasing for four consecutive years [47]. - The existing industrial and research capabilities in Northeast China may provide a foundation for future growth if leveraged effectively [47].

Core Viewpoint - The Bank of Japan's deliberation summary indicates that despite high uncertainty in trade policies, domestic factors such as stable wage levels and a Consumer Price Index (CPI) slightly above expectations are noteworthy [1] Group 1 - A member of the Bank of Japan highlighted the high uncertainty surrounding trade policies [1] - Domestic wage levels are performing robustly, which is a positive indicator for the economy [1] - The CPI is reported to be slightly higher than expected, suggesting inflationary pressures may be present [1]

Group 1: Job Market Overview - The private-sector payrolls report from ADP for May shows a weak job creation of +37K, significantly below the projected +110K, marking the lowest tally since March 2023 [1][2] - The average job creation over the past four months is only +82K, compared to +197K in the previous four months, indicating a substantial decline in job growth [2] - Goods-producing jobs decreased by -2K, while services added a modest +36K jobs, reflecting ongoing challenges in the labor market [3][4] Group 2: Sector Performance - The Leisure & Hospitality sector gained +38K jobs, followed by Financial Services with +20K and Construction with +6K, while Education & Health Services lost -13K and Professional/Business Services saw a decline of -27K [4] - Medium-sized companies (50-499 employees) led job gains with +49K, while large firms lost -3K and small businesses dropped -13K, highlighting the vulnerability of small-sized companies in the current labor market [5] Group 3: Wage Trends - Job Stayers experienced a +4.5% year-over-year wage increase, while Job Changers saw a +7.0% increase, indicating a generally healthy wage environment despite lower levels compared to previous periods [6] - Wages are stabilizing at robust levels, but there are no strong sectors driving significant hiring, leading to a hesitant job market [7] Group 4: Market Reaction - Following the ADP report, pre-market indexes shifted from positive to negative, with the Dow down -44 points, S&P 500 down -4, and Nasdaq down -20 [8] - Year-to-date performance shows the Dow at -0.7%, S&P at +0.7%, Nasdaq at +2.2%, and Russell 2000 at -6.5%, indicating mixed market sentiment [8]

Core Insights - The Bank of Japan's Governor Kazuo Ueda stated that Japan's core inflation is rising due to a combination of post-pandemic economic recovery, a tightening labor market, and supply shocks [1] Group 1 - The increase in core inflation is influenced by the economic recovery following the pandemic [1] - A tightening labor market is contributing to the rise in domestic prices and wage levels [1] - Supply shocks are also impacting the inflationary pressures in Japan [1]

Core Viewpoint - The main factors driving domestic inflation in the UK are domestic rather than tariff-related [1] Group 1: Inflation Factors - The UK central bank's policy is influenced by the decline in inflation [1] - Wage levels are significantly above target levels [1] - Inflation expectations are not the primary drivers of policy [1] - Recent data since the last meeting indicates a decrease in inflation [1]

Core Viewpoint - The Federal Reserve Governor, Christopher Waller, stated that wage levels have not exerted inflationary pressure on the service sector [1] Group 1 - Wage levels in the service industry are not contributing to inflationary pressures, indicating stability in labor costs [1] - The comments suggest that the service sector may not face significant cost-push inflation, which could influence monetary policy decisions [1]