Due to tighter pandemic-led restrictions, many businesses were forced to temporarily retrench or cut the work days of their staff.
To help SMEs retain employees, the Thai Cabinet has approved a 37-billion-baht (US$1.1 billion) subsidy programme that will help pay for salaries.
Businesses in select sectors significantly affected by tightened COVID-19 measures will receive a 25% wage support under the Jobs Support Scheme.
The Reserve Bank of Australia noted that in sectors where wage growth was observed, it was largely due to earlier implemented wage cuts that were reversed.
Employees who made claims for salary arrears and compensation for wrongful dismissal in the last financial year recovered S$13 million.
A total of RM$84.2 million has also been channelled to 13,884 businesses in the form of grants and loans for subscriptions to digitalisation services.
To help workers, especially women, balance family and employment responsibilities, Labour has urged for a review of the “erosion” of part-time work.
The Financial Management & Resilience Programme (URUS) has been launched for individual borrowers who continue to be affected by the pandemic.
The number of employed people across various sectors showed an increase in August month-on-month, with wages growing marginally.
Although wages levels have been increasing, workers are still making less than they used to as compared to before the pandemic hit.
The current salary increment rate ranges between 100% and 150%, while the cost of living has increased from 400% to 600%, said a senator.
Male workers are also receiving a higher average monthly wage as compared to their female counterparts.
Besides prioritising wage raises, the prime minister also said that he plans on a capital gains taxes discussion sometime in the future.
The most common reasons why SME bank loan applications get rejected are insufficient cash flow, an unviable business, and high levels of debt.
Foreigners who would qualify for this lower tax rate must work in fields in which Thailand faces a skills shortage, and could work anywhere in the country.
Some firms posted revenues that did not fall sufficiently enough to qualify, while others posted increased revenues over the period.
Businesses are looking at cash flow continuity and survival, especially in industries hit hard by the pandemic, said the SME Association of Malaysia.
A new project will help generate new jobs, maintain employment for about 400,000 workers and subsidise the income of over four million workers.
The government has recovered S$361 million (US$266 million) from 4,862 firms to remedy overpayments in the Jobs Support Scheme (JSS).
Labour groups had previously called for a wage hike of 6 to 8%, while business groups urged for the minimum wage not to be increased by over 3%.
Western buyers of Cambodian apparel and footwear goods have been urged to prod suppliers towards paying a living wage to factory workers.
As of September 24, the support packages have benefited some 20 million Malaysians, and 2.4 million businesses.
To help about 480,122 struggling small businesses keep five million employees employed, the government is planning to roll out subsidies.
Haruhiko Kuroda emphasised the need to create a virtuous cycle in which higher wages give households more purchasing power.
Some 71% of Australians support companies being forced to repay JobKeeper funds if they did not need it, according to a recent opinion survey.
The allocation of RM18 billion (US$4.3 billion) in wage subsidies has helped 2.9 million workers in the country keep their jobs so far, reports HR minister.
About three million workers in Ho Chi Minh City stand to gain from the unemployment insurance fund with total allowances of about VND6 trillion.
The new support measures are aimed at helping struggling individuals and businesses stay afloat amid extended COVID-19 restrictions.
The Minister of Economic Affairs has thrown her support behind an increase in the minimum wage, ahead of a final decision on October 8.
The country’s planning agency is launching a 45.4-billion-baht (US$1.4-billion) stimulus package to help small businesses keep jobs.