Page 3 - Labour Market

Russia's labour shortage spreads as defence sector cuts down staff

Heavy recruitment by the armed forces and defence industries has drawn workers away from civilian enterprises, as has emigration, pushing unemployment to a record low of 2.3 per cent

Govt plans to integrate Gati Shakti portal with e-Shram database

As of now, over 1,530 data layers from 44 central ministries have been uploaded on the portal

'E-Shram: One Stop Solution' launched for welfare of unorganised workers

The One Stop Solution entails consolidating and integrating data from various central ministries/departments into a single repository

Labour unions in India: Adapting to new challenges amid global changes

India's labour unions are at a crossroads in the age of IT and gig work. They are adapting to new-age sectors' demands but penetration has been limited

Malaysia PM Anwar Ibrahim to visit Bangladesh today, focus on labour issues

Prime Minister Anwar is expected to meet with Yunus, where a broad spectrum of issues will be on the agenda

Best of BS Opinion: Labour market signals, green businesses and more

Here is the best of Business Standard's opinion pieces for today

Fresh formal hirings increase in July by 2.5% to 1.05 million: EPFO data

The EPFO data is considered crucial as only the formal workforce enjoys social security benefits and is protected by labour laws

Jobless rate stagnates at 3.2% in July 2023-June 2024, shows PLFS data

PLFS data for the period suggests share of self-employed, wage-jobbers up

EY employee's death highlights job stress: 1 in 3 Asians face burnout

The tragic death of an EY employee has sparked social media discussions about the importance of work-life balance and burnout, which, according to a McKinsey report, is a greater concern for Asians

India well-poised to benefit from new jobs emerging with AI: Meta India V-P

India is well-poised to take advantage of new jobs that emerge from advent of Artificial Intelligence (AI), according to Meta India Vice President Sandhya Devanathan. In an interview to PTI, Devanathan weighed in on raging debate around AI and its impact on jobs, saying she is of the firm belief that AI would now lead to new opportunities for India. "I think that India is potentially well-poised to take advantage of new jobs that could come up with AI," she said. Devanathan said that the nature of jobs may change, however. "I think it offers opportunities for new kind of jobs to get created...jobs may change in terms of what they look like, but there will be new things that could end up coming up as a result of that (AI)...and it would lead to new opportunities for us as a country," she said. The views assume significance in the backdrop of persistent debate in tech circles and civil societies on whether AI will augment the labour market or displace workers. The Economic Survey i

Boeing's US factory workers go on strike, halting 737 MAX production

Boeing said it was ready to get back to the negotiating table, a sign that it could sweeten the deal

Rajasthan gem, jewellery industry lands in the rough amid labour shortage

In 2022-23 (FY23), Rajasthan had exported around Rs 9,470 crore worth of gems and jewellery, with the trade tally climbing to around Rs 11,180 crore in FY24

'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