Job Growth

India must generate 8-10 million jobs yearly, says PM's principal secy

Highlighting the need to create 8 to 10 million jobs annually in India, Prime Minister Narendra Modi's Principal Secretary PK Mishra on Saturday urged students to equip themselves with both technical knowledge and practical skills. Speaking at the 9th convocation ceremony of IIM Sambalpur, Mishra said, "There is a need to create 8 to 10 million jobs annually. The central government has therefore launched initiatives like Digital India and Skill India to meet this goal. You need technical knowledge along with skills." He also informed the students that India has secured a strong position on the global stage. Mishra said this is a crucial period not only for students, but also for the country. "Today, India holds a strong global position, with a growing economy, a young population and strategic partnerships. The country's increasing influence will help achieve the goal of Viksit Bharat, as envisioned by the Prime Minister," Mishra said. Mishra said India's digital infrastructure is

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Crypto trading booms in India's interiors as job growth, incomes disappoint

Many young Indians are dabbling in crypto trading to supplement their regular income in the world's most populous country where jobs and pay increases have lagged world-beating economic growth

White-collar hiring up 4% in Jan, driven by FMCG, pharma, insurance sectors

White-collar hiring activities in January witnessed 4 per cent growth driven by traditional sectors, including FMCG, pharma and insurance, according to a report released on Monday. "In 2024, January had greeted us with a disappointing 11 per cent de-growth in hiring. In contrast, 2025 seems to have started on a positive note. The 4 per cent hiring growth is tempered as IT recovery settles in, however, strong growth in most core sectors, including FMCG, pharma, insurance and hospitality is a good sign and augurs well for a cracking 2025 in terms of white collar hiring," Naukri Chief Business Officer Pawan Goyal said in a statement quoting NaukriJobSpeak Index. The report revealed a steady hiring environment with strong performances in core sectors like FMCG (16 per cent), insurance (15 per cent), and pharma (11 per cent), and hospitality by 8 per cent, while IT hiring remained flattish, the report added. The Naukri JobSpeak is a monthly index representing the Indian job market and ..

Economic Survey: A 'virtuous cycle of job creation' via labour reforms

The survey presented a comparative study on restrictions on overtime for factory workers in India and other countries

Formal sector new hirings drops 20.8% in Oct, EPF additions hit 7-month low

"The increase in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce"

India's small businesses drive jobs growth, wage gains curbed by inflation

The number of small manufacturing businesses, mainly family- owned units such as garment makers, auto component makers and food processing enterprises, grew to 20.15 million

US job growth accelerates in Sep, unemployment rate declines to 4.1%

The initial payrolls count for August has typically been revised higher over the past decade. Estimates for September's job gains ranged from 70,000 to 220,000

No 'spin-doctoring' can change fact that 2014-24 saw jobloss growth: Cong

The Congress on Monday dismissed as "half-truths" the government's assertions of creating eight crore employment opportunities between 2021 and 2024 and 6.2 crore net subscribers joining the EPFO database, and said no "spin-doctoring" can take away from the fact that 2014-24 has seen "jobloss growth". Congress general secretary in-charge communications Jairam Ramesh said that amidst the "U-turns and scandals" that have marked the last few months of this "tottering" government, "the non-biological PM and his drum beaters have tried to find some solace in their economic record, claiming to have created eight crore employment opportunities between 2021 and 2024". "This claim initially emerged from the RBI KLEMS data, which we had earlier countered on July 15th, 2024. The Government's spin doctors have now mustered another statistic - that of 6.2 crore net subscribers joining the Employees' Provident Fund Organisation (EPFO) database between September 2017 and March 2024. Both claims are

'400 mn more women required in workforce to contribute $14 trn to economy'

India requires an additional 400 million women in the workforce to contribute USD 14 trillion to the economy which would necessitate nearly doubling the current female labour force participation rate (LFPR) from 37 per cent to 70 per cent by fiscal year 2047, according to a new report. Non-profit The/Nudge Institute has unveiled a new report, Labour Force Participation Distillation Report, outlining a crucial element for India's economic future. The report is based upon Periodic Labour Force Survey (PLFS) over the years. As the country aims to become a USD 30 trillion economy by 2047, the report highlights the need for a substantial increase in female labour force participation to achieve this goal. According to the report, India requires an additional 400 million women in the workforce to contribute USD 14 trillion to the economy. This would necessitate nearly doubling the current female labour force participation rate (LFPR) from 37 per cent to 70 per cent by fiscal year 2047. Wi

Adopt supportive, empathetic approach towards MSMEs: RBI dy guv to lenders

Reserve Bank Deputy Governor Swaminathan J has asked financial institutions to adopt a more sensitive and empathetic approach towards MSMEs, and deploy supportive measures like restructuring options for loans, to support the sector which plays a key role in the economy. In a speech at the Annual Day of the Foreign Exchange Dealers Association of India (FEDAI) here, the deputy governor said MSMEs face challenges like access to affordable finance, delayed payments, infrastructure bottlenecks, and requirements of compliance, among others. The journey of India's economic transformation cannot be complete without the robust development of the MSME sector. "MSMEs are not just the backbone of our economy, they are the engines of growth, innovation, and employment," he said at the event held on Wednesday. However, for these enterprises to truly thrive and scale up, the financial sector must step up with innovative solutions, sensitivity, and a forward-looking approach, Swaminathan said. "

To generate jobs, Puducherry minister to unveil new industrial policy soon

Puducherry Industries Minister A Namassivayam told the territorial Assembly on Friday that a new industrial policy would be unveiled soon for the development of industries in the union territory and to generate job opportunities for the youth. Replying to a question tabled by V P Ramalingam (nominated legislator), the minister said that those coming forward to set up industrial enterprises in the union territory were seeking several concessions which related to GST and Income Tax. The government would have to consider these pleas. "Our intention is to encourage industries to come up in Puducherry so that jobs can be created for the educated youth," he said, and added that all aspects were being considered to ensure industrial development in the union territory. Namassivayam said that the government also proposed establishing an Information Technology park. On the number of industries established since the present government assumed office in 2021, he said that 189 industries have c

Hiring activity up 12% in July, most sectors report double-digit growth

White-collar hiring activity grew by 12 per cent in July compared to the same month last year as most sectors reported healthy double-digit growths, a report said on Friday. India's white-collar hiring activity grew to 2,877 job postings in July 2024, registering a 12 per cent year-on-year increase compared to 2,573 during the corresponding month last year, according to the Naukri JobSpeak Index. The Naukri JobSpeak is a monthly index representing India's job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database of Naukri.com. Most sectors reported healthy double digit growths, with pharma/biotech (26 per cent), FMCG (26 per cent), real estate (23 per cent), and AI-ML (47 per cent) leading the way, said the report. However, the report said, it could be due to an impacted base of July 2023, when there was an atypical dip in hiring activity on account of IT sector's woes. The IT sector experienced a healthy 17 per cent gro

Hiring in power, energy sector in country witnesses 9% growth in H1FY25

Hiring activity in the power and energy sector increased by 9.01 per cent in the first half of this financial year (H1FY25) compared to the same period last year, as the country works towards achieving net-zero emissions by 2070, a report has stated. India's energy sector is undergoing a significant transformation in line with the nation's commitment to achieving net-zero emissions by 2070. This is reflected in the impressive 9.01 per cent net employment change in the power and energy sector, indicating a move towards a low-carbon future driven by significant government initiatives, according to TeamLease Services 'Employment Outlook Report' for H1FY25. TeamLease Services 'Employment Outlook Report, showcases changes in employment for the period between April-September 2024-25, based on a survey of 1,417 employers across 23 industries. The report further revealed that in the power and energy sector, Delhi leads existing job locations at 56 per cent, followed by Bengaluru at 53 per .

Budget 2024 Updates: Finance Minister Nirmala Sitharaman to present the Union Budget on Tuesday

Union Budget 2024: As Finance Minister Nirmala Sitharaman presents the Union Budget on Tuesday, markets expect tax cuts, infra spending, and a boost to rural demand. Stay with us for all updates

US job growth expected to slow down, unemployment rate to remain steady

Financial markets remain optimistic the Fed could start its easing cycle in September after aggressively tightening monetary policy in 2022 and 2023

India needs to grow at 8% to create sufficient jobs: IMF's KV Subramanian

India needs to grow at 8 per cent on sustained basis to create sufficient jobs to reduce poverty and inequality, India's executive director at International Monetary Fund (IMF) Krishnamurthy Venkata Subramanian said on Wednesday. India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 - the fastest pace in one-and-half years. "We should be impatient even if we grow at 7 per cent. We should be looking to grow at 8 per cent and above, as the country needs to create a lot of infrastructure," Subramanian said, addressing an event organised by OMI Foundation. "By growing at 8 per cent, we have the potential to create a lot of jobs, thereby reducing poverty and inequality," the former CEA said. The growth rate in October-December was higher than the growth rate of 7.6 per cent in the previous three years, and it helped take the estimate for the current fiscal (April 2023 to March 2024) to 7.6 per cent, according to the data released by the National ...

Women hiring from campuses grew 5% in 2022-23, says HirePro report

There has been a 5 percentage points increase in campus hiring of women in 2022-23, compared to the previous year as companies in India are keen on inclusivity and diversity in the workplace, a report said on Monday. In FY23, 40 per cent of the fresh talent hired from college campuses were women, up from 35 per cent in the previous year, AI-powered recruitment automation firm HirePro said in the report. The report is based on evaluation of data during FY23, for a sample size of 5,50,000 BTech candidates across all five zones -- central, east, north, south, and west -- of the country. As per the report, a majority of women participated in campus hiring exams last fiscal for sectors such as IT, banking, financial services and insurance (BFSI) and research and development (R&D). Further analysing the data, the report said IT services top the chart in women's participation in campus hiring. The report also revealed that out of the five zones, south India had the highest women ...

Indeed shares the top 10 jobs of 2024, check the complete list of jobs here

Job portal Indeed shared the list of top jobs of 2024. From mental health technician to human resources manager check the full list here

White-collar hiring falls 11% annually in Jan, up 1% sequentially : Report

Hiring of white-collar workers fell 11 per cent on an annual basis in January, while it sequentially rose 1 per cent during the same period, a report said on Tuesday. On a year-on-year basis, the overall hiring in the IT sector declined 19 per cent in January this year. However, healthcare, hospitality and FMCG witnessed annual job growth last month in an otherwise cautious market, according to Naukri JobSpeak Index. The Naukri JobSpeak is a monthly index representing the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database of Naukri.com. As per the report, hiring for niche AI-related roles such as machine learning engineer and full stack AI scientist jumped 46 per cent and 23 per cent, respectively, year-on-year. On an annual basis, hiring in the healthcare sector rose 7 per cent in January with maximum increase in demand for administrative roles. Recruitment in the travel and hospitality sector