Oil & gas PSUs cut 15,700 jobs in 6 years even as revenue doubles
Over the span of six years, state-operated oil and gas enterprises reduced their workforce by 15,700 positions, constituting 14% of their total employees, despite a near doubling of their revenues. This downsizing trend particularly affected non-managerial roles. Key Points
Economic TimesTech Job Seekers Without AI Skills Face a New Reality: Lower Salaries and Fewer Roles
The IT job market in the U.S. is expected to shrink by another 20,000 to 30,000 jobs in 2024, while AI accelerates automation of some tech jobs Key Points
mint‘Steve jobs was a natural’: Bill Gates says he will ‘never achieve’ the genius of Apple founder
Apple founder Steve jobs and Microsoft co-founder Bill Gates had a complex relationship spanning over 30 years, transitioning from allies to rivals. Despite differences, they both left a lasting impact on the world through their companies. Key Points
mintUnemployment is now election issue. Can Congress' Pehli Naukri Pakki apprenticeship swing it?
Rahul Gandhi and Mallikarjun Kharge's job guarantee promise queers the pitch for the ruling BJP, which must now scramble to make a competitive offer. No matter who wins, this is good politics. Key Points
ThePrintFocus is on jobs while attracting investments: TN industry minister
Highlighting recent successes like the Global Investors Meet, state minister for industries, investment promotion and commerce T.R.B. Rajaa highlights Tamil Nadu's competitive advantages, including its robust infrastructure and skilled workforce Key Points
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Therapy, supply chain on Indeed’s list of top mid-management jobs; tech profiles see a dip
Indeeds report highlights high demand for mid-management roles in social media, supply chain, and customer care, while technology jobs see a reduction in demand. Changing nature of work reflected in roles like social media manager and therapists. Occupational therapist, supply chain manager, and finance assistant among top job roles for 2024. Key Points
Economic TimesHere's how CEO Tim Cook remembered Apple co-founder Steve jobs on his 69th birth anniversary
Apple's CEO Tim Cook pays tribute to Steve jobs on his 69th birth anniversary. Cook remembers Jobs' visionary personality and quotes his famous motto. Cook also recalls the lessons he learned from jobs and how he transformed Apple into one of the world's most valuable companies. Key Points
Times Of IndiaFactbox-Job cuts spill beyond tech sector
(Reuters) - Several U.S. and Canadian companies, mostly in sectors such as technology and media, have kicked of the year with job cuts, as they look to keep a lid on costs in an uncertain economy. Key Points
ThePrintWhere the jobs are: Strong hiring in most American industries has far outpaced high-profile layoffs
Blockbuster job growth in recent months has coincided with high-profile layoffs in technology, finance, and media sectors. Companies that over-hired during the pandemic are now shedding jobs as the economy normalizes. Despite layoffs, job gains in other industries remain strong, with manufacturers, restaurants, hotels, entertainment companies, and healthcare providers adding significant numbers of jobs. Key Points
Economic TimesYields and dollar jump, stocks rally on blowout US jobs report
By Herbert Lash and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -Treasury yields jumped, the dollar surged and world equities rallied on Friday after a blowout U.S. jobs report scuttled any lingering Key Points
ThePrintYields, dollar jump on blowout US jobs report, stocks edge up
By Herbert Lash and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -Treasury yields jumped, the dollar surged and global equities edged higher on Friday after a blowout U.S. jobs report scuttled any Key Points
ThePrintBumper tech earnings buoy stocks as US jobs surprise hits bonds
By Naomi Rovnick and Dhara Ranasinghe LONDON (Reuters) -Bumper tech earnings supported world stocks on Friday, even as overwhelmingly strong U.S. jobs data lowered expectations of how much the Federal Key Points
ThePrintIndian jobs’ exposure to AI lower than the rest of the world: IMF paper
The study found that 40% of the jobs in emerging markets were exposed to AI, and 26% of jobs in low-income countries were exposed to the technology. In Brazil, 41% of jobs had high exposure to AI. The analysis also noted that 26% of the workers in India were in high-exposure jobs compared with the global average, where 40% of the jobs were highly exposed to AI. In advanced economies, 60% of jobs are exposed to AI. Key Points
Economic TimesUnemployment challenge resurfaces amid parliament attack. But will it affect voters’ choice?
They cite the conflict over reservations in Manipur and the substance abuse problem among Punjabs youth as examples of how these frustrations are being channelled. The most recent instance of this could well be the Parliament security breach on December 13 when two men jumped into the Lok Sabha chamber from the visitors gallery and set off smoke canisters while another man and a woman sprayed coloured gas and shouted slogans outside. Key Points
Economic TimesApple founder Steve jobs never signed an autograph, but his signed cheque for Rs 333 is now worth Rs 20 lakh
The cheque, worth $4.01 (around Rs 333), was paid to an answering service and mail drop-off location used by jobs during Apple's early days. Key Points
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Tech firms, Wall Street lead job cuts in Corporate America
Economic uncertainties due to a rapid rise in interest rates forced U.S. companies like tech behemoth Amazon.com (AMZN.O) and Wall Street banks including Goldman Sachs (GS.N) to slash thousands of jobs in a quest to rein in costs. Key Points
ReutersSam Altman's ouster from OpenAI draws parallels with ‘Apple fired Steve Jobs’ decades ago | Read here
Steve jobs was famously fired from Apple in 1985 after a power struggle with the board of directors. He later returned and achieved great success. Key Points
mintRaghuram Rajan says India's current growth isn't enough to create ample jobs
Former Reserve Bank of India Governor Raghuram Rajan said India's economy needs to grow at over 8% to meet job demands for its vast population. While the current growth rate of 6%-6.5% is commendable, Rajan flagged the urgency of faster expansion to address the employment needs of the country's youth. Key Points
Economic TimesIs AI a job killer or a job creator? What history tells us
Artificial Intelligence (AI) has raised concerns about job displacement, but throughout history, technological advancements have created more jobs than they eliminated. According to a report by the World Economic Forum, around 85 million jobs may be lost to AI by 2025, while 97 million new roles may emerge. Key Points
Economic TimesWomen an important piece to achieve 8% growth: Barclays study
India needs women to account for more than half of the new jobs created by 2030 in order to achieve an 8% growth rate, according to a study by Barclays. The study suggests that female labor force participation would need to rise six percentage points to 43.4% for growth to reach 6-6.5%. The report also highlights the need to shift workers from agriculture to non-agriculture sectors, as well as the importance of job creation in sectors that enhance productivity. Upskilling and formalization are also identified as crucial for India's growth. Key Points
Economic Times
Gold likely to remain range-bound next week
US employers added 336k jobs versus the forecast of 170k jobs in September as a two-month payroll net revision was noted at +119k. The unemployment rate came in at 3.8%, which was slightly higher than the estimate of 3.70%. Key Points
Economic TimesComments on AI taking away jobs non-sense: MoS IT Rajeev Chandrasekhar
Union Minister Rajeev Chandrasekhar termed as nonsense, bakwas comments about artificial intelligence taking away jobs in India. I am sorry to be sounding cynical. In 1999, the whole of 1999, I heard how Y2K is going to wipe out the world. Then I hear AI will finish our jobs and there are obviously people who want to look at the worst case scenario of any innovation. AI will finish our jobs, zero, non-sense, bakwas, he said. Key Points
Economic TimesComments on AI taking away jobs non-sense, bakwas: Minister Rajeev Chandrasekhar
Union Minister Rajeev Chandrasekhar termed as nonsense, bakwas comments about artificial intelligence taking away jobs in India. I am sorry to be sounding cynical. In 1999, the whole of 1999, I heard how Y2K is going to wipe out the world. Then I hear AI will finish our jobs and there are obviously people who want to look at the worst case scenario of any innovation. AI will finish our jobs, zero, non-sense, bakwas, he said. Key Points
Economic TimesFounder of Indian trading company says AI will take away jobs, but assures employees he will not fire them
Will AI lead to employment loss for many humans who do the work that ChatGPT and Google Bard etc can do in future? Yes, thinks Zerodha founder and CEO Nithin Kamath. But not at Zerodha as Kamath promised in a Twitter thread that he would put employees first and would not fire just because their work could be done by AI. Key Points
India TodayAI a bigger threat than automation to millions of job-seekers
Generative artificial intelligence (AI) has been identified as a bigger threat to human jobs than automation and robots. ChatGPT and other generative AI models have the potential to replace human workers in various industries starting with those in IT, software, tech, media, creative agencies, and new-age digital platforms. IBM CEO Arvind Krishna predicts up to 30% of jobs could be replaced by AI within five years. Key Points
Economic Times
Explained: How faster tech, green energy adoption is reshaping global jobs landscape
A report released by the World Economic Forum (WEF) suggests that in the next five years, almost a quarter of jobs i.e. 23 per cent are expected to change through growth of 10.2 per cent and decline of 12.3 per cent. Key Points
India Today‘Don’t be afraid of ChatGPT, instead harness it’
We cannot escape the impact of generative AI. But instead of being wary, it’s better to harness it to your advantage. Key Points
Financialexpress10 Inspirational Quotes by Steve jobs on Innovation and Creativity
Steven Paul jobs was an American business tycoon, industrial designer, media proprietor, and investor. He was the co-founder, chairman, and CEO of Apple. Key Points
Times of IndiaApple's spiritual beginnings: Steve Jobs' link to Neem Karoli Baba and Paramhansa Yogananda
As an 18-year-old backpacker in search of enlightenment, jobs set out for India in 1974 along with his friend and fellow dropout Dan Kottke who would become the first employee of Apple a few years later. When jobs reached Neem Karoli Baba's ashram at Kainchi near Nainital, Baba had already passed away. And India wasn't what jobs had imagined through his LSD haze. Key Points
Economic TimesIndia likely to add 150k jobs this year in phone manufacturing
Quess and Ciel HR officials said they have seen a 100% rise in mandates this fiscal compared to FY23. Mobile manufacturers in India have restarted hiring in anticipation of demand boost, said Aditya Narayan Mishra, CEO of Ciel HR Services. Key Points
Economic Times
Will AI chatbots replace human jobs in future? This is what ChatGPT said
We asked ChatGPT, developed by OpenAI, if AI chatbots can really replace human jobs, and it gave a very politically correct answer. It didn’t accept the AI chatbot could replace human jobs, nor did it deny it. Key Points
India TodayCan AI chatbots replace human jobs in future? This is what ChatGPT said
We asked ChatGPT, developed by OpenAI, if AI chatbots can really replace human jobs, and it gave a very politically correct answer. It didn’t accept the AI chatbot could replace human jobs, nor did it deny it. Key Points
India TodayH-1B visa-holders' spouses can work in US, says judge
The ability of H-1B holders spouses to also get jobs in the US has been a major attraction for highly skilled foreign workers, the tech companies have argued. Amazon.com Inc., Apple Inc., Google, Microsoft Corp. were among the companies who urged the judge to let the rule stand. Key Points
Economic TimesOpenAI study lists human jobs that can be replaced by ChatGPT, writing and programming roles at risk
A study by ChatGPT's parent company OpenAI has listed some human jobs that can be replaced by AI in the future. The study shows that writing and programming jobs are among the most at-risk when it comes to being replaced by AI. Key Points
India TodayOpenAI study lists human jobs that can be replaced by ChatGPT, writing and programming jobs likely at risk
A study by ChatGPT's parent company OpenAI has listed some human jobs that can be replaced by AI in the future. The study shows that writing and programming jobs are among the most at-risk when it comes to being replaced by AI. Key Points
India Today
We asked GPT-4 about its impact on the Indian job market, here’s what it said
Replying to the question, ChatGPT-4 said ‘I can’t predict the future with certainty’. It then goes on to say that it can provide insights based on existing trends and observations. Key Points
mintApple vendors lead job creation in India with over 1 lakh opportunities: Report
The report noted that Apple's vendors and component suppliers in India have contributed to the creation of these jobs by supporting the production of iPhones through the government's Production Linked Incentive (PLI) scheme. Since the implementation of the PLI scheme in August 2021, the vast majority of these 100,000 new jobs have been created in the past 19 months, as per the report. Key Points
mintPoor nations are writing a new handbook for getting rich
The recipe -- customized in varying ways by Hong Kong, Singapore, South Korea, Taiwan and China -- has produced the most potent engine the world has ever known for generating economic growth. It has helped lift hundreds of millions of people out of poverty, create jobs and raise standards of living. Key Points
Economic TimesNCLAT upholds CCI’s Rs 1,338-crore fine on Google; GoMechanic gone in slump sale
The NCLAT bench has directed Google to carry out the competition regulators directions and deposit the fine within 30 days. The penalty of Rs 1,337.76 crore had been slapped on Google by the CCI on October 20 last year. Key Points
Economic Times