service industry
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Behind USA’s Tip Culture: A Workaround for Employers to Escape Minimum Wage Payments
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The U.S. Department of Labor (DOL) announced a series of updated regulations in 2020 and 2021 to protect tipped workers, including amendments to sections of the Fair Labor Standards Act (FLSA). These regulations protected employee tips from employers and addressed the two-tiered wage system that allowed employers to take partial…
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Do Industrial Robots Contribute to Unemployment and Lower Wages?
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Over the past few years, rapid advances in technology have posed greater threats to jobs, especially those vulnerable to automation. Recently, McKinsey published a report analyzing the technical feasibility of automation in several occupations and concluded that service, manufacturing, and construction industries are all at risk of automation. Yet, the…
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Reevaluating Openness to Trade: Estimating the True Potential Gains from the Service Industry
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New research finds that potential welfare gains from trade liberalization are likely highly underestimated because international trade statistics fail to capture the true economic impact of tradable services.