Data on unpaid labour divides economists. But they agree on one thing: real rural wages have stagnated
India’s Employment data flawed, argues economist Santosh Mehrotra, citing unpaid family labour & sectoral shifts. UFL falling as share in total workforce, counters Surjit Bhalla. Key Points
ThePrintWorld Bank notes jobless development in South Asia, calls for more reforms to increase Employment ratios
The share of the employed working-age population has been declining since 2000 and is low, it said. In 2023, the Employment ratio for South Asia was 59%, compared to 70% in other emerging market and developing economy regions. Key Points
Business TodayCiting International Labour Organization & Institute for Human Development report, Congress targets Modi g
The Congress criticized the Modi government over rising unemployment, citing the India Employment Report 2024 by ILO and IHD. Congress president Mallikarjun Kharge called it a ticking bomb and criticized the government for not addressing the issue. Jairam Ramesh highlighted concerns over the past decade, noting minimal Employment growth despite new job entrants. He also pointed out high urban and rural youth unemployment rates and a shift towards low-paying informal jobs without social security under the Modi government. Key Points
Economic TimesChina must do more to lift employment, stabilise housing market: Officials
International Business News: China acknowledges the need to boost Employment and stabilize the property market. Youth unemployment reaches an unprecedented 21.3%. Major property d Key Points
Times Of IndiaMSMEs’ share in exports 45.56% till Sept’23: Govt to Parliament
The share of MSME products in India's exports increased from 43.59% in FY23 to 45.03% in FY22, with a growth from 49.35% in 2020-21 to 49.77% in 2019-20. The share of MSME manufacturing gross value added (GVA) in India's manufacturing GVA also increased from 40.3% in FY21 to 40.83% in FY22. The number of MSMEs registered in India has reached 3.16 crore, with an Employment record of 15.5 crore as of December 6, 2023. Key Points
Economic Times
Precarious job? Study says you'll die earlier
Bad pay, low job security, no workers' union. Sound like your job? Then your chances of dying earlier are 20-30% higher, according to a study out of Sweden. | Health Key Points
Hindustan TimesStep-by-step guide to how Indians in the U.S. can benefit from revised EAD rules
Step-by-step guide to how Indians in the U.S. benefit from revised Employment Authorization Documents rules. | World News Key Points
Hindustan TimesTop 10 Govt Schemes for Unemployed Youths in India
The Government of India has taken various steps for generating Employment in the country. The efforts consist of various long term schemes/ programmes/ policies for making the country self-reliant and to create Employment opportunities. Key Points
Times of IndiaWhat are your chances of getting an H-1B visa? These stats will give you an idea
H-1B visas is one of the most popular work the United States offers. It it a work permit that allows foreign workers to go to the United States and work for American companies. The US Congress has set the current annual regular cap for the H-1B category at 65,000. Key Points
Economic TimesIndia’s unemployment rate climbs to four-month high in April
The nationwide joblessness rate rose to 8.11% in April from 7.8% in March, the highest since December. Urban unemployment climbed to 9.81% from 8.51% in the same period while in the rural areas, it fell marginally to 7.34% in April from 7.47% a month ago. Key Points
Financialexpress
India’s unemployment rate surges to four-month high in April
Indias unemployment rate climbed to a four-month high, the latest data showed, as there were more people joining the workforce compared to available jobs in Asias third largest economy. The nationwide joblessness rate rose to 8.11% in April from 7.8% in March, the highest since December. Urban unemployment climbed to 9.81% from 8.51% in the same period while in the rural areas, it fell marginally to 7.34% in April from 7.47% a month ago Key Points
Economic TimesIndia’s labour market metrics deteriorates in March as Employment in construction, retail trade drops
CMIIEs weekly labour market analysis shows that the labour markets have been weak especially during the last quarter of 2022-23. While the LPR fell from 40.5% in December to 39.8% in March 2023, the unemployment rate fell marginally from 8.3% to 7.8% while the Employment rate fell from 37.1% in December 2022 to 36.7% by March 2023. Key Points
Economic TimesBehind rising manufacturing employment
Enterprises with 10+ workers had a higher rate of Employment growth in 2020-21 and 2021-22 than own-account enterprises. So, factors other than distress—very likely, the easing of labour laws—pushed up manufacturing Employment during the period. Key Points
FinancialexpressEmployment process for 1.5 lakh posts complete: Railway Minister Ashwini Vaishnaw
The Indian Railways plans to create more Employment opportunities by conducting an annual recruitment process. Union Railway Minister Ashwini Vaishnaw stated that the Employment process for 1.5 lakh posts has been completed, with the selection of Assistant Loco Pilots (ALPs) being the first step. The railway aims to fill vacancies on a yearly basis in various categories, providing more opportunities for applicants. Key Points
Economic TimesG20 India: Employment Working Group reaches broad agreement for cross-country mobility and jobs database
These include development of an international reference classification of occupations by skill and qualification requirements to facilitate cross-country comparability and mutual recognition of skills and qualifications. Further, it has been agreed to extend coverage of ILO and OECD's Skills for Jobs Database to G20 countries through comparable indicators to map skill gaps globally, it said. Key Points
Economic Times
Singapore to raise salary criteria for foreign workers in bid for high-quality talent
Singapore will raise the salary criteria for foreign executives and professionals from January next year, with Employment pass holders needing to earn at least S$5,600 per month, up from S$5,000. The financial sector's requirement will increase to S$6,200. The move aims to ensure high-quality hires and fair competition for locals. Key Points
Economic TimesStocks, gold gain as investors stay cheery on rate outlook
By Amanda Cooper LONDON (Reuters) -Global equities rose on Wednesday after U.S. Employment data reinforced investors' convictions that rates may soon start to fall, which has pushed down bond yields Key Points
ThePrintUS extends work permit validity to five years for Green Card hopefuls
Under the new measure, certain EAD categories, including those for foreign nationals with pending green card applications, will have a maximum validity period of five years. This change aims to reduce the need for frequent extensions and administrative burdens. The extension has been well-received by US employers and immigrant workers, particularly H-1B visa holders. Key Points
Economic TimesNet new women EPFO subscribers addition rises to 28.69 lakh in FY23
The EPFO saw a significant rise in new women subscribers, recording 28.7 lakh additions in FY23 compared to 15.9 lakh in 2019-20, indicating increased formal job creation despite the pandemic. Minister Rameshwar Teli highlighted this as an indicator of job market formalization. Female unemployment dropped to 2.9%, improving from 4.2% in 2019-20, as per PLFS data. Initiatives like extended maternity leave and safety measures aim to provide equal opportunities and a safer work environment for women. Key Points
Economic TimesTricky interview question: How to explain the Employment gap
“Can you explain the Employment gap on your resume?” is a tricky interview question such people should be ready to answer. They should be prepared for a close scrutiny of this break. The response to this question can significantly influence the hiring decision. Key Points
Economic Times
Number of families seeking work under MGNREGS continues to fall post-pandemic, figures reveal
The data shows that the average days of Employment provided per household too came down to 47.84 days during 2022-23 from 50.07 days in 2021-22. Key Points
The Indian ExpressPrecarious works associated with high BMI: Research
To understand the impact of precarious work on BMI, the researchers analyzed 20 years of data from the National Longitudinal Survey of Youth adult cohort (1996-2016). The average age of the participants was 44. | Health Key Points
Hindustan TimesModi govt makes Rs 2 lakh cr jobs & skilling push in budget, Congress says 'adopted' from its manifesto
Package incorporates 5 schemes & initiatives to facilitate employment, skilling & other opportunities. Congress takes credit, citing 'sustained election campaign' against unemployment. Key Points
ThePrintCanada unemployment rises for first time in nine months
The net job losses came as a surprise, after robust Employment gains in recent months. Since last September about 400,000 new jobs had been created. | World News Key Points
Hindustan TimesJob market shrinks, but at slower pace
About 45% of Indian employers covered in the latest ManpowerGroup Employment Outlook Survey said they would hire more people in the coming quarter. While 15% of the employers expect a decrease in hiring intent or have no plans to backfill, 37% plan to keep workforce levels steady and 3% were unsure about hiring intentions, according to the findings that were shared exclusively with ET. Key Points
Economic Times
Congress attacks chief economic advisor over statement on unemployment, asks BJP govt to 'vacate seat'
While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'. Key Points
ThePrintIndia’s factory Employment crossed pre-pandemic level in FY22, investment also picked up pace
India's factory Employment grew by 7% in FY22, surpassing the pre-COVID level, as per the Annual Survey of Industries. Investments and output also increased, indicating the country's recovery from the pandemic. The manufacturing sector showed resilience after the adverse effects of the pandemic, with a marginal fall in Employment in 2020-21. Key Points
Economic TimesConsumer confidence remains on recovery path: RBI survey
The current situation index rose by 2.2 points to 87 from 84.8 on account of improved perception on general economic situation, employment, and household income. Key Points
FinancialexpressNow, you can apply for jobs in US while on tourist or business visa. But, there is a catch!
USCIS has confirmed that job hunting and interviewing for a position is allowed on B-1 or B-2 visas. However, individuals must follow certain guidelines. Key Points
mintUN labour body ILO’s Employment report on India is full of praise for govt data. Here's what it says
However, the International Labour Organization flags an unemployment crisis in India. Report an analysis of Employment scenarios from 2000 to 2022, relies heavily on govt surveys. Key Points
ThePrint
It might be a good time to look for jobs in Singapore
In a 2021 Accenture survey, nearly two out of three firms blamed their talent gap on not being able to get work permits for foreigners. Nowadays, only 37% cite difficulty in securing Employment passes as a hiring challenge. For this dramatic change, the employers and employees should thank Hong Kong. Key Points
Economic TimesHaryana’s unemployment rate is 9.3%: CM Khattar
Haryana CM Khattar said the unemployment rate in the state has decreased in comparison to what it was when Congress was in power. The number of applicants registered at present, he said, with various Employment exchanges till February 2023 was 6.46 lakh. Key Points
Hindustan TimesFY25 outlook bright, need to watch out for CAD: Finmin
India's economic outlook for FY25 is positive with strong growth, stable inflation, and robust external account. The government's capital push boosts private investments. Focus needed on increasing domestic savings, monitoring global challenges, and attracting foreign investments for sustainable growth. Key Points
Economic TimesGovt says 45.59 lakh jobs created so far under Pradhan Mantri Matsya Sampada Yojana
As of now, approximately 45.59 lakh Employment opportunities have been generated under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), according to information shared by the government in response to a query in Parliament. Key Points
Economic TimesEPFO board approves framework for timely dissemination of information
The EPFO board also approved the Draft Audit Manual which will help standardize audit procedures, provide a training resource for employees, facilitate decision-making, and consolidate audit information in EPFO, the Ministry of Labour & Employment said in a statement. The decisions were taken at EPFO's 71st Foundation Day on Tuesday. Key Points
Economic Times
Ranjit Sagar dam project: Job to oustee a concession not vested right, says high court
The Punjab and Haryana high court has ruled that a job offer to someone whose land has been acquired for a project is "a concession and not a vested right". The court said the Land Acquisition Act, 1894, does not require the acquiring authority or project beneficiary to guarantee Employment for those ousted from their homes or land. The ruling came in response to 107 petitions from people removed from their land to make way for the Ranjit Sagar dam project, which involved the acquisition of 11,250 acres in Punjab, 1,226 acres in Himachal Pradesh and 13,820 acres in erstwhile Jammu and Kashmir. Key Points
Hindustan TimesPLI scheme allocation hiked by 33% in Budget 2024
BUDGET ANNOUNCEMENT: The Narendra Modi government has increased the budget for the Production-Linked Incentive (PLI) scheme to Rs 6,200 crore for FY25. The scheme, which currently covers 14 sectors, has attracted investments of over Rs 1.03 lakh crore and generated Employment for over 6.78 lakh individuals. However, concerns have been raised about limited Employment generation in sectors like leather, garment, handicrafts, and jewelry. Key Points
Economic TimesIn 1st Global Investors' Meet under DMK govt, Tamil Nadu secures investments of 'over Rs 6.64 lakh cr'
More than 14 lakh people will get direct Employment under these projects, says Chief Minister M.K. Stalin, unveils investor-friendly policies. Key Points
ThePrintJobs will still be there, but...: What FM Sitharaman has to say on labour intensive sectors on AI hitlist
Budget 2024: The recent Union Budget, presented by the Finance Minister on July 23, unveiled a range of initiatives aimed at addressing the ongoing Employment challenges, backed by an allocation exceeding Rs 2 lakh crore. However, the swift adoption of AI in sectors like construction and other labor-intensive industries raises concerns about its potential impact on the Modi 3.0 administration's Employment agenda. Key Points
Economic TimesBudget 2024: Rural Employment guarantee scheme may get 47% boost with Rs 88,000 crore allocation
Budget News: The upcoming budget for FY2025 is expected to allocate Rs 88,000 crore for the rural Employment guarantee scheme, marking a 47% boost from the current fiscal year. The government is responding to the surge in demand for Employment and an increase in wage rates. Key Points
Times Of India
China starts publishing youth jobless data again, with a new method and a lower number
International Business News: China published youth unemployment data using a new method that showed an apparent improvement. The unemployment rate for people between 16 and 24 was announced as 14.9% in December. Key Points
Times Of IndiaUS job growth slows in October; unemployment rate rises to 3.9%
Nonfarm payrolls increased by 150,000 jobs last month, the Labor Department's Bureau of Labor Statistics (BLS) said in its closely watched Employment report on Friday. Data for September was revised lower to show 297,000 jobs created instead of 336,000 as previously reported. Key Points
Economic TimesInfra development is key for making India a $5 trillion economy: Nitin Gadkari
Without water, power, transport and communication, we will not get industry and capital investment. Without industry and capital investment, we cannot create Employment potential. And without Employment potential, we cannot eradicate poverty. That is very important. Key Points
Economic TimesBudget 2024: 'After PLI, jobs-linked schemes need of the hour'
Interim Budget: Experts suggest that the government should introduce employment-linked incentives in the upcoming interim budget to promote job creation and formalization. They recommend providing tax breaks or subsidies to small and medium-sized enterprises (SMEs) for hiring workers from marginalized communities to address social inequality. Key Points
Economic TimesCompanies tightening contracts to make exit tough for senior executives
Indian cos are tightening Employment contracts for top executives to make them more binding by incorporating stricter non-compete and non-solicitation clauses. This is in response to intense competition for senior talent and rampant poaching of C-suite brass. Contracts and policies are being made tighter to make an exit difficult, including longer notice periods and extended non-poaching contracts. Key Points
Economic TimesWall Street mixed, benchmark Treasury yields up before US holiday weekend
By Stephen Culp NEW YORK (Reuters) - U.S. stock indexes were mixed and benchmark Treasury yields rebounded after the much-anticipated U.S. August Employment report showed an uptick in unemployment and Key Points
ThePrintIndia's manufacturing PMI hits 31-month high in May
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) has increased from 57.2 in April to 58.7 in May, indicating the strongest improvement in the health of the sector since October 2020 Key Points
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