Page 3 - Labour Market

'Infant attrition' rising, accounts for 10-15% of labour movement: Report

Poor work-life balance, flexibility, and job dissatisfaction are leading to 4-5 per cent annual increase in 'infant attrition' -- employees quitting within six months of joining -- mainly in sectors like consumer durables, IT, and software, and BFSI, a senior executive of TeamLease Services said. "Infant attrition in India, mainly seen in the 22-32 years age group, is growing annually at 4-5 per cent and is mostly driven by factors like poor work-life balance and flexibility, which is particularly important to younger workers, job dissatisfaction, inadequate onboarding, insufficient compensation, making employees seek better opportunities," TeamLease Services Chief Strategy Officer Subburathinam P told PTI. Lack of career development opportunities, culture of the organisation, work environment, managerial impact, and changes happening in the family are also prompting new hires to leave in search of environments where they can grow and advance, he said. Infant attrition can also impl

Fresh formal hirings face marginal decline in June, shows EPFO data

The data is signalling a slowdown in the formal labour market

New Boeing CEO Kelly Ortberg faces big overhaul, from factories to finances

His extensive to-do list includes mending relationships with airlines and employees, boosting output, repairing company finances and securing a labor deal to avoid a possible worker strike

Tax a fundamental issue: L&T CFO Raman on retaining labour in India

"The biggest differentiator is the tax-free income there versus growing tax here," said R Shankar Raman, chief financial officer and whole-time director for L&T

Nasscom says no to Karnataka govt's 14-hour workday limit proposal

According to labour unions, the amendment, which is looking to facilitate a 14-hour working day, was presented in a meeting called by the labour department with various stakeholders in the industry

Formal job creation hits 10-month high with 985K new subscribers: EPFO data

Surge in young and female subscribers signals recovery in labour market

Labour productivity shrank in 9 industries during FY23: RBI's KLEMS data

Eight of these nine industries belong to the manufacturing sector

Will ensure hardworking labourers get full rights, respect, says Rahul

Terming the country's labourers as "builders of India", Congress leader Rahul Gandhi on Saturday said that under the Narendra Modi government their future was in danger, and asserted that he will ensure that the they get their full rights and respect. The Leader of Opposition in the Lok Sabha made the remarks in a post in Hindi on X, as he shared a video of his recent interaction with daily wage workers at Guru Tegh Bahadur Nagar in Delhi during which listened to their problems. "In Narendra Modi's government, the 'builders of India' are facing terrible hardships," Gandhi said in his post. The daily wage workers are forced to run their households for four days with a single day's earnings, he said. They have no savings and are living off the burden of paying interest, he added. "I got a chance to meet street vendors and daily wage workers in GTB Nagar and get to know their struggles," Gandhi said. "The future of the families of those who are building the 'India of the future' is

Labour Party's electoral victory renews hope for India-UK trade deal

Keir Starmer became Britain's Prime Minister on Friday after his Labour Party's landslide electoral victory against Rishi Sunak-led Conservatives

Labour pains, the silent crisis undermining India's infrastructure boom

Severe skilled, unskilled shortage threatens to pull emergency brake on India's industrial engine

Israel approves plan to import 92,000 foreign workers amid labour shortage

Seventy percent of the quota is specifically set aside for agricultural labourers. Israeli agriculture is facing staggering losses in production and manpower

India's fresh formal job creation slowed to three-month low in February

In what suggests some robustness, nearly 67 per cent of the total new EPF subscribers belong to the 18-28 age group, a cohort mostly comprised of new entrants to the labour market

Productive employment

Policy must also focus on earnings

Enhance biz environment, boost non-farm jobs via trade openness: World Bank

Labour productivity and the working-age population, the twin engines of growth in the South Asian region, are slowing

Salaried workers' real wages dropped between 2012 and 2022: ILO study

The average real monthly wages of a regular wage worker dipped to Rs 10,925 in 2022 from Rs 12,100 in 2012

Unemployment hurting Indian youth, most jobs informal, says ILO Report

The International Labour Organisation's report revealed that while the wages of casual labourers maintained a modest upward trend during 2012-22, real wages of regular workers either remained stagnant

Laboured arguments

State job reservations are counter-productive

March Fed pivot ruled out, May rate cut less likely: Vikram Sahu

Sahu says the US elections and Fed pivot will benefit emerging markets (EMs) this year

BOJ Governor Kazuo Ueda keeps upbeat view on inflation, wage outlook

He added that Japan was in a "state of inflation," rather than deflation, and is likely to see prices keep rising

U'khand CM distributes blankets, sanitary napkins to construction workers

Continuing this sequence, the essential item distribution was undertaken on February 16 by public representatives