Feb 28, 2018

South Korea to cut max work hours from 68 to 52

Photo: Chung Sung-Jun / Getty

The South Korean National Assembly Environment and Labor Committee approved a bill on Tuesday that cuts the maximum statutory working hours from 68 hours to 52 with support from both the governing and opposing parties, according to the Korea Times. The bill is expected to pass the South Korea's National Assembly as early as Wednesday,

  • Why it matters: Slashing working hours was a central campaign promise for President Moon Jae-in. But with hours cut, businesses may have to spend upwards of $11 billion each year to keep up with production, according to the Korea Economic Research Institute.
  • Go Deeper: How a cut in work hours in Germany reflects a generational shift.

Go deeper

The difficulty of calculating the real unemployment rate

Data: U.S. Department of Labor; Note: Initial traditional state claims from the weeks of May 23 and 30, continuing traditional claims from May 23. Initial PUA claims from May 16, 23, and 30, continuing PUA and other programs from May 16; Chart: Andrew Witherspoon/Axios

While economists predict that today's nonfarm payrolls report will show around 20 million Americans were unemployed in May, it's likely the real number is close to double that.

Why it matters: Traditional economic reports have failed to keep up with the devastation of the coronavirus pandemic and have made it nearly impossible for researchers to determine the state of the U.S. labor market or the economy.

50 mins ago - Sports

How coronavirus could reshuffle the sports calendar

Illustration: Eniola Odetunde/Axios

The NBA's Board of Governors approved Thursday the league's 22-team plan to resume play at Walt Disney World — a plan that also includes tentative dates for both this season and next.

Why it matters: The league's proposed trip to Disney World not only impacts this season but could have a domino effect that impacts seasons in the future — and could permanently change what time of year the NBA plays its games.

Buffalo police officers suspended after shoving elderly man

Photo: Mike Desmond/WBFO via AP

Two Buffalo police officers were suspended without pay Thursday night after video emerged of them violently shoving a 75-year-old man to the ground while clearing a protest in the wake of George Floyd's killing in the city’s Niagara Square, WBFO reports.

The state of play: Before WBFO’s video of the incident went viral, a Buffalo police spokesman issued a statement that said "one person was injured when he tripped and fell."