Page 4 - Unemployment

Haryana Assembly elections: High on per capita income, low on employment

Its economic character is of a developed state but the investment towards asset creation is unexceptional

Weekly unemployment claims fall unexpectedly to 227,000: US labour dept

Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 227,000 for the week ended Aug. 10, the Labour Department said

Kharge accuses Modi govt of using 'dubious employment data for PR'

Congress president Mallikarjun Kharge on Wednesday accused the Modi government of using "dubious employment data for PR", and said no amount of "whitewashing" can change the truth that lakhs of job aspirants have to daily struggle on the road with very few jobs. Kharge shared a media report on X which claimed that for 1,257 vacancies for the post of woman constables and woman constable drivers, the Mumbai Police received 1.11 lakh applications from across the state. "Unemployment has been the biggest curse under Modi government," Kharge said. "The Modi government is using dubious employment data which is grossly inflated by counting 'unpaid labour' and 'one-hour work per week', as a ridiculous PR exercise!" he said in his post on X. In Maharashtra, where 1.11 lakh women applied for a mere 1,257 Mumbai Police constable posts, many of them forced to spend the night on the pavement with toddlers, is a grim reminder of the grave unemployment situation, he said. "A suicide helpline num

UK pay growth slowest in nearly 2 years, surprise fall in unemployment

Average weekly earnings, excluding bonuses, were 5.4 per cent higher than a year earlier in the three months to the end of June, down from 5.8 per cent in the three months to May

No quick fixes for India's jobs crisis

If policymakers pay attention to the needs of the country and act on them, the outcomes will be visible a decade from now-but doing nothing is not an option

Unemployment rate fell 1.3 percentage points in July amid uptick in hiring

Unemployment rate stood at 7.9% in July, down from 9.2 per cent reported in previous month

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 .

Unemployment rate in state down to 6.1%, will further dip: Assam CM Sarma

Assam Chief Minister Himanta Biswa Sarma on Monday claimed that the unemployment rate in the state was gradually declining and stood at 6.1 per cent in the 2023-24 financial year. Sarma said the BJP's one of the major election promises as well as governance focus was to reduce unemployment and give the youths of the state ample growth opportunities. "After 3 years, the statistics speak for itself; unemployment is down to 6.1% and will further dip in the coming days when the results of our policy interventions will start to show up. "We are always committed to the youth of Assam!" he said in a post on X. In a graphic analysis uploaded along with the post, the CM said the unemployment ratio was 8 per cent in 2022-23. "State government's proactive policies have ensured that Assam's youths are engaged in meaningful employment," he added. He, however, did not share the details if these new jobs were created in the public sector or private entities. Sarma further said that the governm

Unemployment rate will drop below 3%, no concern for job losses: Mandaviya

Union Labour Minister Mansukh Mandaviya assured the Lok Sabha that employment generation efforts by Prime Minister Narendra Modi has led to significant reduction in the unemployment rate

US economic growth seen picking up in 2nd quarter, inflation subsiding

The economy, which continues to outperform its global peers despite hefty rate hikes from the Fed in 2022 and 2023, remains supported by a resilient labor market even as the unemployment rate has rise

Encouraged by Budget's focus to increase integration into GVCs: USIBC

Encouraged by the budget on measures to increase integration into global value chains, the US India Business Council on Tuesday lauded the ambitious Union Budget as a key step in strengthening its global leadership in the Indo-Pacific and across the world. USIBC is eager to work closely with the Government of India to help it realize the full potential of Viksit Bharat, and we laud the Government's ambitious Union Budget 2024 as a key step in strengthening its global leadership in the Indo-Pacific and across the world as well as ushering new opportunities for partnership and collaboration between the United States and India, the world's oldest and largest democracies, USIBC president Atul Keshap said. Several of the budget's economic measures are likely to have important strategic impact in areas of shared priority between India and the US where USIBC has been a key partner to both governments, he said. Abolishing the angel tax clears an obstacle to ever closer bilateral technology

Tax cuts to welfare support: Here's what to expect from Modi 3.0 1st Budget

Government is expected to reduce its deficit target slightly from the 5.1 per cent of gross domestic product projected before the elections

India put up tariff walls. To revive factories, it must bring them down

The jobs crisis in the most-populous nation has assumed alarming proportions. Young graduates are nine times more likely to be unemployed than those who can't read or write

1.8 mn posts in Indian financial services sector vacant: FBSB India CEO

A top official of the FPSB India (Financial Planning Standards Board) here on Wednesday said India is facing the issue of unemployability in the financial services sector because there were no takers of nearly 18 lakhs jobs last year. GIFT City in Gandhinagar, which employs nearly 6,000 people in the financial services sector, will generate nearly 1.5 lakh jobs in this sector in the next five years, FPSB India CEO Krishan Mishra told PTI here on Wednesday. "Last year, as per the data provided by the National Career Services portal of the central government, India created 46.86 lakh jobs in financial services. Of those, only 27.5 lakh jobs were filled. It shows that there were no takers for 18 lakh jobs. This is because of unemployability. Jobs are there, but people are not capable enough to take them up," said Mishra. "Banks, insurance companies, brokerage houses and mutual fund companies are always in need of trained people. If you conduct an online job search, you will find that .

'Luxury shame' hits China's luxury market as elites dial down on austerity

The elite in the Land of the Dragon are refraining from ostentatious purchases, putting the nation's luxury market under strain

Modi govt's only mission is to make sure youth are jobless, alleges Kharge

The Modi government has only one mission and that is to "keep the youth jobless", Congress president Mallikarjun Kharge alleged on Tuesday in a scathing attack against the Centre on the issue of unemployment. The Modi government may be refuting independent economic reports like the one by Citigroup on unemployment but how will it deny government data, Kharge asked in a lengthy post on X citing various reports. "The truth is that Modi government is solely responsible for shattering the dreams of crores of youth in the last 10 years," he alleged. Kharge said the latest government data punctures the government's claims. According to NSSO's (National Sample Survey Office) Annual Survey of Unincorporated Sector Enterprises, in the manufacturing sector, 54 lakh jobs were lost in unincorporated units in the seven years between 2015 and 2023, he said. "In 2010-11, 10.8 crore employees were employed in unincorporated, non-agricultural enterprises across India, which has become 10.96 crore

West Bengal lost 3 million jobs in informal sector in 7 years: NSO data

Maha best performer with 2.4 mn additions, shows NSO data

US weekly unemployment claims rise, pointing to labour market slowdown

Initial claims for state unemployment benefits rose 4,000 to a seasonally adjusted 238,000 for the week ended June 29, the Labor Department said on Wednesday

People bearing double brunt of unemployment, price rise, says Jairam Ramesh

Congress leader Jairam Ramesh on Saturday attacked the Narendra Modi government, claiming that it is nonchalant and not concerned about the issues of unemployment and price rise. In a post on X, Ramesh shared a media report on increase in food prices, and said people are bearing the double brunt of rising unemployment and price rise. The increase in the prices of kitchen essentials such as potatoes, onions, tomatoes, vegetables and pulses are witnessing record increase, he claimed in his post in Hindi. "But one-third prime minister is completely nonchalant and unconcerned," Ramesh said. The Congress general secretary claimed that Prime Minister Modi never talks about inflation. "Amid rising unemployment, people are being hit doubly by high inflation. For how long will the public bear the brunt?" Ramesh said.

Govt mulls increasing frequency of unemployment data to monthly, quarterly

Developed countries typically release jobs data on a monthly basis, which is widely tracked by markets and economists to measure resilience of the economy