Page 4 - Labour Market

At 100, co-op infra major ULCCS set to expand footprint beyond Kerala

Having grown from humble beginnings into a major infrastructure builder, Kerala-based Uralungal Labour Contract Cooperative Society (ULCCS) has plans to extend its footprint in its centenary year, based on the foundational vision of sustainable and inclusive development. Founded by a group of youngsters inspired by the teachings of social reformer and renaissance flag-bearer Vagbhatanandan as a workers' collective at a village near Uralungal in Kozhikode district in 1925, ULCCL is now a mega enterprise with an annual turnover of Rs 3000 crore and a large workforce on muster rolls. As a Total Solution Provider (TSP), ULCCS in recent years forayed into cutting-edge fields as well including Information Technology, skill development and material quality testing, even as consolidating its position in the infrastructure development. With a rich legacy and flourishing portfolio of 7500+ projects, ULCCS is a member of the International Cooperative Alliance (ICA) and earned the internationa

India needs equivalent of BLS in US for jobs data: Wadhwani Foundation CEO

A comprehensive jobs data is the need of the hour in India to help understand what kind of employment opportunities are getting created and which sectors are hiring, and the government should look at developing an equivalent of the Bureau of Labour Statistics (BLS) in the US, Wadhwani Foundation Global President and CEO Ajay Kela told PTI. "India is a young country and the youth population is massive. Every month we have one million people who turn 18 and they need jobs. We must make sure there are jobs available for all such people who need to support themselves and their families," Kela told PTI in an interview on Tuesday. On his expectations from the interim budget, Kela said, "What's missing in India is that there is no solid data in the job space. The US has the BLS, we don't have an equivalent of that. "Any programmes or schemes you develop... in the absence of not understanding what jobs are getting created, which sectors are hiring, what do the next 4-5 years look like in ..

The rural push

Labour market conditions can affect long-term growth

Real wage growth positive for 2nd straight year in 2022: ILO study

Along with Turkey, India is the only country that saw positive growth in real wages for the second consecutive year after the pandemic struck in 2020

Gold prices slip after pressure from stronger US dollar, treasury yields

Spot gold was down 0.2 per cent to $2,038.49 per ounce as of 1223 GMT. U.S. gold futures fell 0.2 per cent to $2,045.40

US jobs numbers to show payrolls increase by 170k, eases pay growth

The median forecast in a Bloomberg survey of economists also calls for a 3.9% increase in average hourly earnings from a year earlier, the smallest annual gain since mid-2021

Centre to launch 2nd version of National Career Service portal in 2024

The government will launch the second version of the National Career Service (NCS) portal as well as persuade states to roll out labour reforms as part of efforts to further improve the ease of doing business and provide social security for the unorganised labour, particularly gig and platform workers, in 2024. Union Labour and Employment Minister Bhupender Yadav told PTI that his ministry will soon launch the "advanced version, namely NCS 2.0, to facilitate better job matching and search facility for jobseekers along with a recommendation engine for skilling by the use of latest technologies and leveraging Artificial Intelligence and Machine Learning". The NCS project was launched in July 2015 to provide various employment-related services, including career counselling, vocational guidance, information on skill development courses, apprenticeship and internships, through a digital platform. As of November 30 this year, the NCS platform had more than 3.64 crore registered jobseekers

Argentina's unions protest president's cutbacks, deregulation and austerity

Thousands of union members and activists took to the streets of Argentina's capital on Wednesday to protest a decree from President Javier Milei that imposes sweeping deregulation and austerity measures meant to revive the country's struggling economy. Unions had asked a court for a prior injunction to block measures lifting some labour protections, but a judge rejected the appeal, noting the decree had not yet entered into effect. It does so on Friday. Argentine labour activists question whether Milei, a self-described anarcho-capitalist who has long railed against the country's political caste, can impose the measures by way of an emergency decree bypassing the legislature where his party has few seats. We do not question the president's legitimacy ... but we want a president who respects the division of powers, who understands that workers have the need to defend themselves individually and within the framework of justice when there is unconstitutionality, said Gerardo Martnez, .

Labour mobility

Demand in rich countries is an opportunity

Israel to recruit thousands of Indian construction workers to fill shortage

A team of "selectors" from Israel visited India last week and another senior delegation will leave for India next week to start the process of recruiting thousands of workers to be brought to the country to fill in the acute shortage faced by its construction industry, a senior executive at the Israel Builders Association said on Wednesday. "We will start the process in Delhi and Chennai next week on December 27. At the moment we are looking to bring in 10,000 as per government approvals and this will scale up to 30,000 in the near future depending on how it goes. It is an ongoing exercise and will take months," Deputy Director General and Spokesperson for the Israel Builders Association (IBA), Shay Pauzner, told PTI. "The selection starting next week will last 10-15 days," Pauzner said. A delegation led by Izchak Gurvitz, who heads the IBA's division dealing with workers' issues and the selection team, was in India last week and would be joining CEO Igal Slovik again next week with

India tops remittances table with $125 bn inflows: World Bank report

Inflation declining and strong labour markets in high-income source countries boosted transfers by highly skilled Indians, it says

Saudi minister inaugurates first global labour market conference in Riyadh

Minister of Human Resources and Social Development (MHRSD) of Saudi Arabia Ahmad bin Sulaiman Al-Rajhi inaugurated the first Global Labor Market Conference (GLMC) at the King Abdulaziz International Convention Centre here on Wednesday. The opening ceremony, presided over by Al-Rajhi, saw over 6,000 participants and attendees from over 40 countries, including ministers of Saudi Arabia, policymakers, leaders of multinational organisations, heads of business, academics, and representatives of labour. In his opening address, Al-Rajhi highlighted Saudi Arabia's role in pioneering efforts that bolster international labour markets, allowing them to keep pace with frequent changes. Dynamics of the labour market today are altogether different from those in the past, including an increased demand for skills required by future jobs, new professions, and the changing nature of the global workforce. Al-Rajhi shared statistics on the ongoing labour market dynamics, both related to emerging ...

Climate change has significant, direct impact on global labour market: ILO

Worldwide employment in renewable energy reached 13.7 million in 2022, an increase of one million since 2021 and up from a total of 7.3 million in 2012

Low-paid, migrant workers more prone to injuries in automobile sector

The report Crushed 2023 is the fifth annual study on the state of worker safety in the Indian auto sector

US unemployment claims drop by 24,000, hints of labour market resilience

The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates. The Labor Department reported Wednesday that jobless claims dropped by 24,000 to 209,000. The previous week's total 233,000 had been the highest since August. The four-week moving average of claims, which smooths out week-to-week volatility, fell by 750 to 220,000. The applications are viewed as a proxy for layoffs. They remain extraordinarily low by historical standards, signalling that most Americans enjoy unusual job security. Overall, 1.84 million Americans were receiving unemployment benefits the week that ended Nov. 11, down by 22,000 from the week before. The Federal Reserve has raised its benchmark interest rate 11 times since March 2022 to slow the economy and rein in inflation that hit a four-decade high last year. The job market and economic growth remained surprisingly resilient, defying predictions that the ..

Unworkable: Swapping Palestinian workers with Indians

Israel has an aging population. The Times of Israel reported that the country's 75-plus population is expected to increase by 48 per cent by 2030, increasing the demand for foreign caregivers

US applications for jobless claims rise in a 'very healthy' labour market

More Americans filed for jobless claims last week, but the labour market remains broadly healthy in the face of retreating inflation and elevated interest rates. Applications for unemployment benefits rose by 13,000 to 231,000 for the week ending November 11, the Labor Department reported Thursday. That's the most in three months. Jobless claim applications are seen as representative of the number of layoffs in a given week. The four-week moving average of claims, a less volatile measure, rose by 7,750 to 220,250. Overall, 1.87 million people were collecting unemployment benefits the week that ended Nov. 4, about 32,000 more than the previous week and the most since March. Analysts suggest that those so-called continuing claims, are steadily rising because many of those who are already unemployed may now be having a harder time finding new work. Still, the American labour market continues to show resiliency in the midst of the Federal Reserve's campaign to get inflation back down

Credit formalisation, state welfare transforming labour markets: SBI report

Self-employment has improved as government programmes take care of primary subsistence needs, it says

Pushing productivity

India must address basic structural flaws

India's labour-intensive goods to get benefit: GTRI on FTA with UK

India's high quality labour-intensive goods such as apparel, footwear, carpets and cars will benefit from the removal of import duties by the UK, under the proposed free trade agreement between the two countries, according to think tank GTRI. However, the overall gains for India will be limited because most of the goods from here are already entering the UK at low or zero tariffs (import or customs duties), the Global Trade Research Initiative (GTRI) said. In 2022-23, India's merchandise exports to the UK were valued at USD 11.41 billion and out of this, USD 6 billion worth of goods such as petroleum products, medicines, diamonds, machine parts, airplanes, and wooden furniture entered Britain at zero levy, it said. "The FTA is expected to have a limited impact on increasing these exports because over half of Indian products already enter the UK with low or no tariffs. The average duty on goods imported from India into the UK is 4.2 per cent," GTRI Co-Founder Ajay Srivastava ...