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On November 27th, Bank of Japan (BOJ) board member Asahi Noguchi stated that if economic activity and prices continue to develop as the BOJ currently envisions, the central bank will begin to gradually tighten its monetary easing policy. In his speech on Wednesday, he emphasized that achieving "sustainable and stable" inflation requires steady expansion in demand and sustained increases in nominal wages, particularly in small businesses and regional economies. Noguchi reiterated that the sustainability of wage growth momentum will determine whether underlying inflation can steadily move towards the 2% target. While overall CPI growth is expected to slow, he warned that localized ripple effects from rising prices could reappear—similar to the recent increases in food prices such as rice—as tight supply and demand prompt companies to make up for past delays in passing on costs. Noguchi also stated that, so far, the impact of US tariffs on the Japanese economy has been limited.Bank of Japan policy board member Asahi Noguchi: At this critical juncture, the Bank of Japans responsibility is to minimize the friction and disruption caused by economic transformation and guide the economy onto a new growth path by adjusting policies in a timely manner.Bank of Japan board member Asahi Noguchi: The Japanese economy is currently in a transitional period, shifting from a state of stagnant wage and price growth to a state of moderate increases in both wages and prices.Bank of Japan policy board member Asahi Noguchi: The Bank of Japan must carefully examine how various economic channels ultimately affect economic activity and prices, and use the policy interest rate tool as appropriate to adjust the degree of monetary easing.Bank of Japan board member Asahi Noguchi: If the yen depreciates, it will have an upward pull on economic activity and prices through exports and imports.

Amazon Files a Grievance Against the Union's Victory in New York, Claiming Collusion

Haiden Holmes

Apr 08, 2022 10:02

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The United States' National Labor Relations Board (NLRB) has given Amazon until April 22 to substantiate its opposition to last week's poll in New York, in which Staten Island employees chose to create the company's first union in the United States. Amazon sought more time to provide evidence due to the "substantial" nature of its concerns, the company said in a filing Wednesday.


A verified election outcome would give organized labor a footing in the second biggest private employer in the United States, with the ability to affect how Amazon conducts its finely calibrated business.


Around 55% of employees at Amazon's JFK8 warehouse in the New York City borough of Staten Island who participated in the election chose to join the Amazon Labor Union (ALU), which has requested more compensation and job security. Since then, the union has been approached by employees at an additional 50 Amazon locations in the United States, according to the group's chairman.


Amazon's lawsuit said that company intends to challenge the decision on the grounds that the ALU interfered with workers in line to vote and that extended wait times decreased participation. Approximately 58% of eligible voters voted in person across many days.


Eric Milner, an attorney with the legal firm Simon & Milner who represents the ALU, denounced Amazon's assertions as bogus and said that they will be overturned.


"To assert that the Amazon Labor Union threatened staff is ludicrous," he said. "The Amazon Labor Union is composed entirely of Amazon workers."


Separately, the RWDSU expressed opposition on Thursday to an election in Bessemer, Alabama, in which Amazon employees voted against unionization. It was the second election in Bessemer, after the NLRB's determination that Amazon intervened unfairly in the last election there last year. The most recent results are still pending due to hundreds of contested votes and now the RWDSU's objections, which may prolong the process by months.


"We want our workers' votes to be heard," Amazon spokeswoman Kelly Nantel said. "We hope the NLRB considers every legitimate vote."


The RWDSU said in a filing that Amazon unjustly deleted pro-union information from non-work locations and dismissed one employee for speaking out in support of the union during required work sessions. The RWDSU said that these were sufficient reasons for the NLRB to vacate the decision.


Amazon expressed dissatisfaction with the RWDSU's activities, including the union's discussions with employees about the usage of a mailbox on warehouse property, but said that raising objections was regular procedure.


The company will have a difficult time showing that the New York union breached regulations governing employee involvement, according to John Logan, a labor expert at San Francisco State University.


Additionally, the NLRB often takes employer-related claimed breaches more seriously than union-related alleged violations, he said, since businesses wield more authority over employees.


"It's going to be really difficult" for Amazon, he said.