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Silicon Valley: where ideas come to launch. 9 something that you could not make up: “WASHINGTON (AP) - Little more than a week after Groundhog Day, the evidence is mounting that lawmakers have all but wrapped up their most consequential work of 2014, at least until the results of the fall elections are known.” Summing this all up, The Associated Press reported on Feb. Forget about both until after the 2014 midterm elections, if not 2016. Two headlines stand out like flashing red lights: House Speaker John Boehner says immigration reform in 2014 is off the table and Senate Majority Leader Harry Reid says the “fast track” legislation we need to pass vital free-trade agreements with the European Union and some of our biggest trading partners in the Asia-Pacific region is off the table.
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Then, after you’ve been totally energized by people inventing the future, you go back to your hotel room and catch up with the present: the news from Washington. What they all have in common is they wake up every day and ask: “What are the biggest trends in the world, and how do I best invent/reinvent my business to thrive from them?” They’re fixated on creating abundance, not redividing scarcity, and they respect no limits on imagination. Curt Carlson, the chief executive of SRI International, which invented Siri for your iPhone, recalls how one leading innovator just told him that something would never happen and “then I pick up the paper and it just did.” Brian Chesky, the co-founder of Airbnb, explains how his start-up has, in the blink of an eye, become one of the biggest providers of overnight rooms in the world - challenging Hilton and Marriott - without owning a single room. Laszlo Bock, who oversees all hiring at Google, lays out the innovative ways his company has learned to identify talented people who have never gone to college. Jeff Weiner, the chief executive of LinkedIn, explains how his company aims to build an economic graph that will link together the whole global work force with every job being offered in the world, full-time and temporary, for-profit and volunteer, the skills needed for each job, and a presence for every higher education institution everywhere offering a way to acquire those skills.Īaron Levie, the chief executive of Box, explains how his online storage and collaboration technology is enabling anyone on any mobile device to securely upload files, collaborate, and share content from anywhere to anywhere. THE most striking thing about visiting Silicon Valley these days is how many creative ideas you can hear in just 48 hours. By 2015, this trend had reversed again: around 70% of full-time employees experienced real weekly earnings growth in the year to April 2015.PALO ALTO, Calif. In fact, many full-time employees saw a reduction in their real weekly earnings during this time. However, following the economic downturn this fell to around 35% in 2011. In 2002, around 70% of full-time employees saw real earnings growth (a measure that is adjusted for inflation). One possible reason for this is that earnings growth for employees hasn’t always matched increases to the minimum wage - which have been greater than inflation in most years since its introduction. So more jobs are being paid close to the minimum wage. In 1999, around 2% of jobs were paid within 2% of the NMW, and this has steadily increased to over 5% of jobs in 2015. During this time a greater proportion of jobs have been paid at or close to this rate. This has gradually increased over time to £6.70 in October 2015 for those aged 21 and over. The National Minimum Wage was introduced in April 1999 and at the time the adult rate (those aged 22 and above) was set at £3.60 an hour. So it appears that there is a bigger concentration of jobs at the bottom end of the pay scale in 2015 than in 1997, many of them being paid close to the minimum wage.Ĭorrection - This section was incorrectly described in terms of hours worked paid close to the minimum wage, rather than jobs paid close to the minimum wage Proportion of adult jobs worked paid within 2% of the National Minimum Wage, 1999 to 2015, UK Above this level of pay the distribution follows a similar pattern to that of 1997, albeit shifted to right, with larger numbers of jobs at higher hourly wages partly as a result of inflation and higher productivity. In 2015, by contrast, there is a large spike of jobs being paid around the £6.50 mark – in line with the NWM rate for those aged over 21 in 2014. In 1997, the distribution shows that many jobs were paying between £4 and £5 per hour, with the number of jobs being paid more than this gradually decreasing as hourly pay increased.
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