Page 4 - Job Market

India must create 115 mn jobs by 2030 as more people enter workforce: Study

"To achieve this herculean task, India's growth engine needs to fire on all cylinders, from manufacturing to services in the next five years," research note read

PM Modi's guarantees 'not delivered', 83% youths jobless, says TMC

Alleging that Prime Minister Narendra Modi's guarantees on various issues had not been delivered, senior Trinamool Congress leader Amit Mitra on Sunday claimed that 83 per cent of jobless people in the country are youths. Mitra reiterated his party's stand that the TMC is with the INDIA alliance, stating that Congress president Mallikarjun Kharge's rebuff to senior party leader Adhir Ranjan Chowdhury and his retort is their internal matter. "Around 83 per cent of the jobless people in the country are young men and women," Mitra, a former Finance minister of West Bengal in Mamata Banerjee's cabinet, claimed at a press conference here. "Two-thirds of the educated young men and women are unemployed," he said. Claiming that the Skill India programme of the NDA government for preparing skilled manpower has not borne the desired fruits, he alleged that only around 4 per cent of the country's youth are getting vocational training. Alleging that PM Modi's guarantees on various issues have

Job market squeeze in UK eases in April, permanent hiring down: Survey

For months the REC survey has painted a weak picture on hiring and pay for newly employed workers that has mostly not carried over to official measures of the broader labour market

Efficient job market

Gainful job creation remains a challenge

India moved fewer people to non-agri jobs than most neighbouring nations

Change in employment ratio is also worse than its key peers

Over 30 million jobs created in real estate sector in 10 years: Report

Employment in the Indian real estate surged to 7.1 crore in the last calendar year from 4 crore in 2013, driven by healthy growth in the housing segment supported by several policy reforms by the Modi government, according to a joint report by Anarock and NAREDCO. Real estate consultant Anarock and realtors' body NAREDCO on Monday released a report 'Real Estate Unboxed: The Modi Effect', which stated that Indian residential real estate market has greatly benefited from several reforms by the Modi-led government, helping the industry to not only to emerge stronger but also to scale new heights. The real estate sector accounts for more than 18 per cent of the total workforce in the country. India's top seven primary residential markets witnessed a combined housing supply of 29.32 lakh units and sale of 28.27 lakh units between 2014 and 2023. Unsold inventories have dropped because of higher sales velocity, while many stalled projects have been revived with the help of the ...

Info Edge reports increase of 3.5% in Q4 billings to Rs 827 crore

Job portal Naukri.com parent firm Info Edge has reported a 3.5 per cent increase in billings of the company to Rs 826.9 crore on a standalone basis in the fourth quarter ended March 31, 2024, the company said in a regulatory filing. The billings of the company stood at Rs 748.6 crore in the same period a year ago. Recruitment Solutions billing grew by 7.18 per cent during the quarter to Rs 625.4 crore from Rs 583.5 crore in March 2023 quarter. The billings of real estate arm 99acres grew by 26.42 per cent to Rs 131.1 crore during the reported quarter from Rs 103.7 in the corresponding quarter a year ago. For the year ended March 31, 2024, the standalone billing of the company increased by 5.47 per cent to Rs 2,495.9 crore from Rs 2,366.3 crore in 2022-23. The biggest contributor to the company's billing, Recruitment Solutions, grew marginally to Rs 1883.2 crore during the reported fiscal from Rs 1,858.7 crore in fiscal year 2023. Real estate platform 99acres' billing grew by abou

Improving hiring expectations, investment gains positive for Info Edge

Naukri continues to be the market leader among recruitment portals with a database of over 95 million and a 70 per cent traffic market share in the segment

92% recruiters expect new, replacement hiring in first half of 2024: Report

Indian white-collar job market is expected to witness optimistic hiring sentiments during the first half of this year, with 92 per cent of recruiters expecting either new or replacement hiring in the first six months of 2024, a survey said on Friday. Naukri's Hiring Outlook Survey is a bi-annual survey conducted amongst 1,200 recruiters and recruitment consultants across sectors pan-India. "Reflecting on our recent Hiring Outlook findings, it's encouraging to see that 92 per cent of recruiters remain optimistic about new and replacement hiring in the first half of 2024. Coupled with anticipation around hiring trends returning to normalcy, the overall hiring outlook, while calibrated, seems to be stable and balanced," Naukri.com Chief Business Officer Pawan Goyal said. The survey further showed that despite challenges in the IT sector, a majority of recruiters still anticipate that IT roles will dominate hiring activities. This is attributed to significant IT recruitment taking plac

Hiring spree: US companies added 140,000 jobs in February, shows ADP data

Private payrolls increased by 140,000 last month after a 111,000 gain in January, according to figures published Wednesday by the ADP Research Institute in collaboration with Stanford Digital Economy

Chinese firms step up hiring, wages remain sluggish amid high competition

China resumed publication this year, excluding college students from the data, to put youth unemployment at 14.9% in December

Fresh formal jobs created last year fell nearly 10%, shows EPFO data

EPFO data shows 10.78 mn new users joined compared to 11.93 mn in 2022

ESIC adds around 1.88 mn new members in Dec, 47% youth, shows govt data

Employees' State Insurance Corporation (ESIC) added 18.86 lakh new members in December 2023, according to provisional payroll data released on Thursday. Around 23,347 new establishments were registered and brought under the social security umbrella of ESIC in December, ensuring more coverage, the labour ministry said in a statement. The data shows that more jobs were generated for the youth during the month as out of the total 18.86 lakh employees added, 8.83 lakh, constituting 47 per cent of the total registrations, were up to the age group of 25 years. The net enrolment of female members was 3.59 lakh in December 2023, according to the data. A total of 47 transgender employees were registered under the ESI Scheme in December. It also shows that ESIC is committed to delivering its benefits to every section of society, the ministry stated. The payroll data is provisional since the data generation is a continuous exercise.

SAP to restructure 8,000 jobs in push towards AI, shares hit record

The company said it will spend 2 billion euros ($2.2 billion) on the programme to either retrain employees with AI skills or to replace them through voluntary redundancy programs

Hiring expected to recover in 2024; likely to witness 8.3% growth: Report

The overall hiring this year is expected to grow 8.3 per cent this year with the job market showing signs of recovery in December, a report said on Thursday. December witnessed a 2 per cent growth in hiring, the foundit Annual Trends Report said. It projected an overall hiring expansion of 8.3 per cent for 2024, with Bengaluru expected to see an 11 per cent surge. Key sectors that will experience increased hiring include manufacturing, BFSI, automotive, retail, and travel and tourism, it said. According to the data from the foundit Insights Tracker (fit), hiring activity in 2023 was 5 per cent lower than in 2022, indicating a slowdown in the job market. However, the index also showed a 2 per cent increase in the last month of 2023, suggesting a possible turnaround in the hiring scenario. "The economy experienced a shift towards the end of 2023, breaking the previous trend that had been consistent since mid-2022. The job market entered a phase of variability, where both quit and hi

Tata Tech to provide skill development training for Telangana students

Tata Technologies has come forward to provide job-oriented industrial skill development training for students in Telangana at a proposed cost between Rs 1,500 crore and Rs 2,000 crore, the state government said on Saturday. Telangana Chief Minister A Revanth Reddy, who held a meeting with representatives of Tata Technologies here, discussed how to provide modern technology and train the youth to get more employment opportunities, a release from CMO said. The chief minister felt the need for introduction of modern courses in all government ITI (industrial training institute) colleges. Tata Technologies will provide required machinery, equipment and software for the establishment of 4.0 Skilling Centers (Industry 4.0 technology centres) along with maintenance in the state, it said. Revanth Reddy agreed with Tata Technologies' readiness to provide training in 4.0 industry based training courses like industrial automation, Robotics manufacturing, advanced CNC machine technicians, EV .

Focus on workforce boost in health sector considering global demand: Govt

The Indian health sector has a good image globally and the government is working to increase the workforce in view of growing demand, Union minister Bharati Pawar said here on Saturday. The Minister of State (MOS) for Health reiterated that there is no need to fear the JN.1 subvariant of coronavirus but states have been asked to be alert about its spread. Dr Pawar was speaking to reporters after reviewing OPD and IPD services, and government schemes like AB-PMJAY, and Jan Aushadhi Kendra at the AIIMS Nagpur. "India is progressing in all sectors globally. There is a lot of demand for Indian healthcare professionals across the globe. The Indian health sector has a good image. It is trusted and the demand for healthcare personnel is growing in many countries," the Union minister said. She said Indian nurses are in good demand in many countries including Japan. "Considering the demand for nurses, the Central government has started Japanese language courses in some Northeastern states,

Up & down the job rollercoaster: Highs for aviation & pharma, lows for IT

The game flipped in the second half of 2022, and in 2023, it has decisively turned in the favour of employers - more talent is now chasing fewer active IT jobs

Enough jobs exist for smart people: Info Edge's Sanjeev Bikhchandani

Bikhchandani said there is no funding winter for good companies, and there never was

The great employment question: Is the job market shrinking or transforming?

Latest PLFS shows unemployment rate fell to its lowest level of 3.2% in July-June 2022-23