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Euronews
6 days ago
- Business
- Euronews
Are immigrants earning less than native workers?
Immigrants earn, on average, 17.9% less per year than natives in Europe and North America, according to a Nature study. The research analysed the salaries of 13.5 million workers across nine countries, including Denmark, France, Germany, the Netherlands, Norway, Spain, and Sweden, between 2016 and 2019. Three-quarters of this pay gap was the result of a lack of access to higher-paying jobs, while only one-quarter of the gap was attributed to pay differences between migrant and native-born workers in the same job. In Spain, the pay gap was over 29%, the highest among all seven European countries. Foreigners make up 13% of the nation's workforce, contributing to economic growth and population increase. In Norway, Germany, France and the Netherlands, immigrants earn between 15% and 20% less than natives. Meanwhile, in Sweden—a country where many employed immigrants find work in the public sector—it was just 7%. The place where immigrants were born also mattered. The highest average overall pay gaps were for immigrants from sub-Saharan Africa, at 26.1%, and the Middle East and North Africa, at 23.7%. Immigrants from Europe, North America and other Western countries experienced a much smaller average pay difference compared to natives, at just 9%. However, the children of immigrants had a substantially smaller earnings gap, earning an average of 5.7% less than workers with native-born parents. Within-job pay differences between natives and children of immigrants are uniformly very small, at less than 2% in all countries. What can be done to tackle this pay gap? In 2023, 39.4% of non-EU citizens were overqualified for the jobs they were in, according to the latest Eurostat figures. According to a McKinsey study, improving social mobility could raise the Gross Domestic Product (GDP) of European countries by 3% to 9% and close the skills gap expected by 2030 without needing new training or reskilling. A set of measures can be implemented to reduce job-level segregation effectively, the study's researchers found. This includes language training, job training, job search assistance programmes which directly connect workers to employers, improved access to domestic education, and recognition of foreign qualifications. Currently, some EU countries have implemented initiatives to tackle this issue. In 2024, Germany enforced the Skilled Immigration Act, which allowed foreign graduates to work while their degrees are being formally recognised. France this year reformed its "Carte Talent" permit - a multi-year residence permit for foreign nationals in France - to attract skilled professionals and address labour shortages, especially in healthcare. "These kinds of policies help ensure that foreign-born workers can contribute at their full capacity, and that countries can reap the full benefits of immigration in terms of productivity gains, higher tax revenue and reduced inequality," stated the paper's researchers Marta M. Elvira, Are Skeie Hermansen and Andrew Penner. "Smart immigration policy doesn't end at the border - it starts there."
Business Standard
23-07-2025
- Business
- Business Standard
Business Optimism Index for Q3 2025 declines, but sub-indices indicate resilience in the domestic economy
PRNewswire Mumbai (Maharashtra) [India], July 23: Dun & Bradstreet, a global leader in business decisioning data and analytics, released the Business Optimism Index (BOI) for Q3 2025, which declined to 117--marking a 2.3% decline over the previous quarter. The modest decline was driven by a fall in optimism in the large and the medium sized firms, while small firms showed resilience. The moderation in sentiment stems largely from global economic uncertainty, prompting businesses to take a measured approach. However, the domestic outlook remains strong, supported by improving macroeconomic conditions. A marginal decline in selling volume q-o-q suggests businesses are skeptic about evolving demand conditions. The decline may reflect a dip in optimism around export orders, which had risen sharply in the previous quarter due to frontloading ahead of anticipated tariff announcements. In contrast, sentiment around domestic orders remained strong. The decline in optimism regarding selling prices likely reflects the subdued inflationary pressures in the economy. Overall, the survey indicates that firms are navigating the current landscape with measured confidence, balancing global risks with robust domestic opportunities. The Dun & Bradstreet Business Optimism Index, which has been tracking the changing business sentiment of India Inc. since 2002, continues to serve as a reliable leading indicator of India's economic growth, maintaining a strong correlation of approximately 80% with the Gross Domestic Product (GDP). Arun Singh, Global Chief Economist, Dun & Bradstreet, said, "While the Q3 2025 decline in the Dun & Bradstreet Business Optimism Index reflects a degree of caution among larger firms, the underlying resilience of the domestic economy stands out. Strong consumption fundamentals, rising investment activity, and targeted policy are lending support to business confidence, particularly among small businesses. The uptick in optimism around the domestic macroeconomic environment, despite global headwinds, signals trust in India's domestic growth momentum. As trade policy uncertainty clouds global demand, businesses are looking inward, with over half prioritizing the domestic market for future growth. Going forward, the recently signed India-UK Free Trade Agreement is expected to open new avenues for market access, improving trade through supply chain diversification. These developments are likely to boost business sentiment by enhancing export opportunities and driving innovation. Together, stronger external competitiveness and domestic market strength can sustain optimism and help Indian businesses navigate global volatility with greater confidence." Key findings from the Q3 2025 survey * The optimism for sales volume decreased by 1 percentage points in Q3 2025 compared to the previous quarter Q2 2025. The food, beverages, metals, and transportation sectors are the most optimistic, while construction and information & communication sectors show lower optimism. * The optimism for domestic orders rose by 3 percentage points in Q3 2025 compared to the previous quarter Q2 2025. The electricals, electronics, mining, textiles and leather sectors remain the most optimistic, while financial and insurance activities and automotive sectors report the lowest optimism. * The optimism for export orders fell by 1 percentage points in Q3 2025 compared to the previous quarter Q2 2025. Electronics, metals, textile and leather sectors lead optimism, while financial and insurance activities and automotive sectors remain least optimistic. * The optimism for selling prices fell by 11 percentage points in Q3 2025 compared to the previous quarter Q2 2025. The metals, hospitality, and food and beverages sectors show the highest optimism, while electronics and automotive sectors report lower confidence. * The optimism for net profit fell by 4 percentage points in Q3 2025 compared to the previous quarter Q2 2025. The financial and insurance, construction, and hospitality sectors are the most optimistic, while electronics, automotive, and capital goods sectors show lower optimism. * The optimism for the global macroeconomic environment fell by 5 percentage points in Q3 2025 compared to the previous quarter Q2 2025. The chemicals sector, along with utilities and professional and administrative services, remain most optimistic, while automotive and hospitality sectors show lower confidence. * The optimism for employment fell by 15 percentage points in Q3 2025 compared to the previous quarter Q2 2025. The hospitality, food & beverages, and textiles sectors exhibit high optimism, while automotive, transportation, and capital goods sectors show lower optimism. * The optimism for the domestic macroeconomic environment increased by 8 percentage points in Q3 2025 compared to the previous quarter Q2 2025. The information & communication, financial services, wholesale & retail trade, and transportation sectors show the highest confidence, while hospitality and capital goods sectors are least optimistic. * The optimism for input costs fell by 1 percentage points in Q3 2025 compared to the previous quarter Q2 2025. The metals, food and beverages sectors show higher optimism, while information & communication and financial services sectors report lower optimism. * The optimism for inventory levels saw an increase of 10 percentage points in Q3 2025 compared to the previous quarter Q2 2025. Mining and automotive sectors are the most optimistic, while metals and food and beverages sectors report the lowest optimism. Notes to Editors The Dun & Bradstreet Business Optimism Index (BOI) is a quarterly survey-based index designed to measure the pulse of the Indian business community and has served as a reliable indicator of the economy. Dun & Bradstreet surveys respondents (senior management) pan India across the Manufacturing and Services sectors, covering businesses of varying scale (large, medium and small) to calculate the BOI. Respondents are asked about their expectations (in terms of increase, decrease, or no change) regarding their company's performance (Ten BOI Parameters) in the ensuing quarter over the same quarter in the previous year. About Dun & Bradstreet: Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet's Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them take faster and more accurate decisions in domains of finance, risk, compliance, information technology and marketing. Working towards Government of India's vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity. India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located at Hyderabad, the GCC has a highly skilled workforce of over 500 employees, and focuses on enhanced productivity, economies of scale, consistent delivery processes and lower operating expenses. Visit for more information. Click here for all Dun & Bradstreet India press releases.
Barnama
06-07-2025
- Business
- Barnama
Fiscal Consolidation Pays Off For Malaysia; US Dollar Seen On Weaker Path
BUSINESS By Harizah Hanim Mohamed KUALA LUMPUR, July 6 (Bernama) -- Malaysia's fiscal consolidation efforts are beginning to bear fruit, with measures to narrow the fiscal deficit and reduce government debt gaining traction despite criticism, signalling a positive outlook for the country's sovereign credit ratings. 'Our foreign reserves have risen to US$119.9 billion from US$115.5 billion in the first half of 2025, while foreign ownership of Malaysian Government Securities (MGS) increased to 35.6 per cent in May from 32 per cent in January. "This reflects a positive view of the government of Malaysia's creditworthiness,' Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama. Although the country's fiscal position is improving, with the fiscal deficit narrowing to 4.5 per cent of Gross Domestic Product (GDP) from 5.7 per cent previously, he highlighted that for the rakyat, fiscal consolidation translates to larger allocations for government assistance programmes, including the Sumbangan Asas Rahmah (SARA) and Sumbangan Tunai Rahmah (STR). As of the first half of 2025, Malaysia's fiscal deficit has improved to RM34 billion, compared to RM46 billion in the same period last year. 'The government coffers are improving as fiscal consolidation progresses. The government allocated RM13 billion for the STR and SARA programmes in 2025, the highest ever distributed for cash aid in Malaysia, compared to RM10 billion last year," he said. He further stated that the number of cash aid recipients had increased to 5.4 million from the previous 700,000 beneficiaries, showing that the assistance is now being better targeted rather than disbursed through blanket subsidies. Mohd Afzanizam noted that this could potentially lead to a more favourable credit review, with Malaysia's current sovereign credit ratings standing at A3 (Moody's), A- (S&P Global Ratings), and BBB+ (Fitch Ratings).
The Print
26-06-2025
- Business
- The Print
Poor deprived of their right to dream: Rahul Gandhi flags rising costs of houses
'Yes, you read it right – and if you don't believe it, let me repeat it: 'To buy a house in Mumbai, even the richest five per cent of India's people will have to save 30 per cent of their income for 109 years!'' Gandhi said. Gandhi shared on his WhatsApp channel a media report which claimed that even for the top 5 per cent of urban families by income in Maharashtra, buying a house in Mumbai would take more than 100 years of savings. New Delhi, Jun 26 (PTI) Congress leader Rahul Gandhi on Thursday flagged concerns over the rising costs of houses, especially in big cities, and said the next time 'someone tells you the Gross Domestic Product (GDP) figures, show them the truth about your domestic budget'. 'This is the condition of most big cities, where you work hard in search of opportunities and success. And, where will so much savings come from?' he said in his post in Hindi on his WhatsApp channel. The inheritance of the poor and the middle class is not wealth, but responsibilities - expensive education of children, worry about expensive treatment, responsibility of parents or a small car for the family, the leader of opposition in the Lok Sabha said. 'Still, there is a dream in the hearts – 'one day' we will have a house of our own! But when that 'one day' is 109 years away even for the rich, then understand that the poor have been deprived of their right to dreams,' Gandhi said. 'Every family needs a comfortable four-walls and a roof over its head – but unfortunately, it costs more than your entire life's hard work and savings,' he said. 'The next time someone tells you the Gross Domestic Product figures, show them the truth about your domestic budget – and ask, who is this economy for?' Gandhi said. PTI ASK MNK MNK This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
New Straits Times
16-06-2025
- Business
- New Straits Times
HIMP2030 first phase achieves 89.7pct implementation, contributes RM149bil to GDP — Zahid
PUTRAJAYA: The first phase of the Halal Industry Master Plan (HIMP2030), covering the period from 2023 to 2025, has recorded encouraging achievements with an implementation rate of 89.7 per cent, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. Ahmad Zahid, who is also the Halal Industry Development Council (MPIH) chairman, said that during this period, the halal industry contributed RM149 billion to the Gross Domestic Product (GDP), while halal exports reached RM61.8 billion. "This achievement is a clear indication that our halal industry development direction is on the right track and is gaining increasing confidence not only domestically, but also in international markets," he said in a statement after chairing the MPIH Meeting No. 1/2025 here today. The meeting, attended by representatives from 15 federal ministries and state governments, served as a key platform to coordinate policies and strategic actions aimed at strengthening Malaysia's position as a global leader in the halal industry. Ahmad Zahid said Malaysia continues to strengthen the halal ecosystem through the expansion of Halal Parks, which now total 14 strategic halal parks spanning 200,000 acres nationwide. As of the first quarter of 2025, these parks have recorded a cumulative investment of RM3.8 billion. "This proves that the competitiveness of our halal ecosystem continues to be a key attraction in the regional investment landscape," he said. Following this, Ahmad Zahid urged all state governments to submit specific intervention plans to enhance their respective halal parks, especially those still facing low industry participation rates. In line with the government's aspiration to boost investment value and stimulate employment in the halal sector, he said MPIH has introduced a new framework for HALMAS (Halal Malaysia)-certified Halal Industrial Parks, which is more dynamic and aligned with the National Investment Aspirations. Under this framework, Malaysia is targeting RM25 billion in cumulative halal sector investment by 2030, supported by infrastructure development initiatives, improved governance and the strengthening of more competitive investment incentives. "The government is also reviewing the formulation of a Bill of Guarantees, offering investor-friendly incentives, integrating HALMAS services into the Malaysian Investment Development Authority's Digital One-Stop Portal, and introducing the HALMAS Mark of Excellence as a symbol of global quality and standards," he said. Today's meeting also saw the launch of the Women in Halal Industry initiative, a joint effort aimed at empowering women's roles in the national halal ecosystem and recognising their contributions across various stages of the industry value chain. Led by Deputy Minister of Women, Family and Community Development Datuk Seri Noraini Ahmad, in collaboration with Halal Development Corporation Bhd, the initiative is expected to provide greater opportunities for women to shine in the sector.
