Joblessness

China's youth unemployment rose to 17.9 per cent in July, the second-highest in recent years, as a record 12.7 million university graduates entered the shrinking job market amid economic slowdown, according to official data released on Wednesday. The jobless rate for those aged 16-24, excluding students, rose three points to 17.9 per cent from 14.9 per cent in June, the data released by the National Bureau of Statistics said. The 17.9 per cent official figure was the second highest after the 17.8 per cent rate recorded in June and 18.9 per cent in August last year. The rise in the youth unemployment rate coincides with the entry of a record 12.7 million university graduates in July/Aug, up by four per cent from last year. The unemployment rate for those aged 25-29 also rose to 7.2 per cent in July, up from 7.1 per cent in June. Unemployment in China was not much of an issue until a decade ago, as the economy in the past expanded at exceptionally high rates, generating millions of

Concerns about jobs, employability and economic uncertainty have shaped youth conversations in India and abroad

India is the world's fastest-growing major economy at an annual rate of 7.4% in the January-March quarter, but so far growth has failed to create enough well-paying jobs for millions of young people

Experts argue that India's economy has not created enough quality jobs to meet the needs of its growing labour force, particularly for young, educated individuals

But was down from the pre-Covid year

Its economic character is of a developed state but the investment towards asset creation is unexceptional

Around 12 mn students graduated this summer, but with even roles in remote areas attracting young Chinese with diplomas from top universities, aspiring professionals face toughest job market in years

For a service-driven company like Ikea, unhappy workers can quickly lead to unhappy customers

Blinkered ideology has made it irrelevant

The unemployment rate for young people with secondary or higher education was six times higher at 18.4 per cent

Attacking the Centre over the issue of unemployment, the Congress on Wednesday claimed the country is sitting on a "ticking bomb" of joblessness with the youth bearing the brunt of the Modi government's "apathy" and asserted that it has a concrete plan for providing jobs to them. Citing the India Employment Report 2024 released by the International Labour Organisation (ILO) and the Institute of Human Development (IHD), Congress president Mallikarjun Kharge urged people to remember before voting that Prime Minister Narendra Modi promised to provide 20 crore jobs in 10 years but "snatched more than 12 crore jobs from the youth". "Our Youth is bearing the brunt of Modi government's pathetic apathy, as ever-rising Unemployment has destroyed their future. ILO & IHD Report conclusively says that the Unemployment problem is grim in India," he said. "They are conservative, we are sitting on a 'ticking bomb' of joblessness!" Kharge said in a post on X. "But the Modi government's Chief ...

A Congress government will guarantee a "bharti bharosa" to the youth, where the Centre will take steps to fill three million vacant government jobs

The jobless rate in urban areas has been steadily declining since the high of 12.6 per cent recorded in the COVID-affected April-June quarter of FY22

The jobless rate in urban areas had been on a continuous decline since the high of 12.6 per cent recorded in the Covid-affected April-June quarter of FY22

The total joblessness rate fell to 7.95% in July, from 8.45% in June, according to data released by private forecaster Centre for Monitoring Indian Economy

The unemployment rate jumped to 8.45% in June from 7.68% in the previous month, according to the Centre for Monitoring Indian Economy Pvt. While unemployment in urban areas eased to 7.87% last month

The jobless rate in urban areas had been on a continuous decline since the peak of 20.8% in the April-June quarter of FY21

Higher borrowing costs are already weighing on India's economy, data show

Chip-maker Micron has announced that it will reduce its workforce by about 10 per cent in 2023 in response to challenging industry conditions

It has sacked over 1,100 employees, so far, amid funding winter