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According to the Labor Market Development Concept until 2030, Turkmenistan will continue to work on ensuring sustainable wage growth. The goal is to build an effective infrastructure that aligns with the pace of labor productivity growth and workforce quality.
TDH reports that one way to increase the purchasing power of wages is by raising the minimum wage. The Concept includes adhering to International Labour Organization standards in setting and increasing the minimum wage to ensure a high level of social protection for the population.
Additionally, the system of incentive payments and bonuses, as well as the methods of calculating and increasing monthly wages, will be updated to boost employee motivation, production efficiency, and work quality.
Previously, it was reported that Turkmenistan places great emphasis on employment issues.
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Facing a record drop in fertility rates, Singapore is significantly expanding its family support framework. According to Bloomberg, Prime Minister Lawrence Wong announced increases in direct financial assistance alongside enhanced housing benefits for young families.
Under the updated policy, every Singaporean child up to the age of 17 will be eligible to receive up to 70,000 Singapore dollars (approximately $55,000 USD) in total support, which includes cash payouts, educational grants, and related benefits. The government is also expanding paid parental leave and capping monthly out-of-pocket costs for government-subsidized childcare at 150 Singapore dollars.
These interventions aim to reverse a severe demographic decline, marked by last year's fertility rate drop to 0.87 children per woman, while over 20% of the country's population is currently aged 65 or older.
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