Page 6 - Unemployment

Strong economic base to help new govt make India a developed nation by 2047

India's world record beating economic growth rate together with robust tax revenues, a fast expanding digital and financial infrastructure and a strong manufacturing sector will give the new government a base for unleashing next generation reforms that may make the country a developed nation by 2047. The new government will however have to tackle with problems like unemployment and rural distress, which seemed to have played a major role in voting pattern in states like Uttar Pradesh, while also keeping inflation under control. Given that no party, including BJP, have a clear majority of its own, tough reforms like big ticket privatisation and labour law reforms may take a backseat. As per the available trends, BJP is likely to win about 240 seats in a 543- member Lok Sabha. It would have to rely on its allies like TDP and JDU to form the next government. The new government will have to build upon the 8.2 per cent GDP growth recorded in 2023-24 and carry on with the reforms to make

How young India views jobs and work

Despite the fatigue of having to find work gigs , there is hopefulness and striving, and little anger

Unemployment, infra, corruption-free nation key issues for Delhi voters

From employment, inflation, better roads infrastructure, clean drinking water, women safety, education, health care services to corruption free India -- myriad of issues dominated the minds of voters when they stepped out to exercise their franchise. The seven Lok Sabha constituencies of Delhi went to polling on Saturday. A two way fight between the BJP and an alliance between the Congress and the AAP as part of the INDIA bloc is being played out in the capital. Visuals from the polling booths showed people of all ages flocking the centres while braving the sweltering heat in the city to exercise their right. "I feel proud to have carried out my democratic duty. I was the first voter in my booth and also was given a certificate by the District Election officer as a mark of appreciation," said Sunil Kumar Jha, who was the first one to cast his booth in New Delhi constituency's Gole Market. "I have voted on the issue of development," he added while appreciating the facilities and ..

US unemployment benefits claims fall as labour market continues to thrive

The number of Americans applying for unemployment benefits fell last week as layoffs remained historically low despite the Federal Reserve's efforts to loosen the labor market. Jobless claims for the week ending May 18 fell by 8,000 to 215,000, down from 223,000 the week before, the Labor Department reported Thursday. The four-week average of claims, which softens some of the week-to-week volatility, rose a modest 1,750 to 219,750. Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week and a sign of where the job market is headed. They have remained at historically low levels since millions of jobs were lost when the COVID-19 pandemic hit the U.S. in the spring of 2020. The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in a bid to stifle the four-decade high inflation that took hold after the economy rebounded from the COVID-19 recession of 2020. The Fed's intention was to loosen the labor market an

LS polls 2024: Who made Haryana number 1 in unemployment, Cong slams BJP

The Congress on Thursday alleged that despite repeated promises, the BJP government has "failed" to provide permanent employment opportunities in Haryana and instead, it is promoting temporary contractual jobs through the skill employment corporation. Congress general secretary Jairam Ramesh posed questions to Prime Minister Narendra Modi ahead of his rally in Haryana's Mahendragarh. "Outgoing PM. Now that we have his attention, here are today's questions for him in Mahendragarh: Who made Haryana Number 1 in unemployment? Why has BJP slowed down private investment in Haryana? Why are Bhiwani residents being forced to protest for clean drinking water and proper sewerage?" Ramesh said in a post on X. Ramesh, citing the latest data from the Centre for Monitoring the Indian Economy (CMIE), said Haryana has the highest unemployment rate in India at 37.4 per cent, far surpassing the national average. "Despite repeated promises and announcements, the BJP government has failed to provide .

BJP responsible for unemployment, corruption in Haryana, says Priyanka

Congress leader Priyanka Gandhi Vadra on Thursday slammed the BJP government for "unemployment, corruption and inflation" in the Haryana. "There is a huge wave of Congress in Haryana. Haryana has the highest unemployment in the entire country, the price of which is being paid by the youth here. "The public is fed up with the rampant inflation, corruption and instability of the BJP and is going to bring about a big change)," she said in a post in Hindi on X. The Congress will win all seats in the state with a huge margin, she said. Earlier, she led a roadshow to garner support for party nominee Kumari Selja for the May 25 Lok Sabha poll in Haryana. Standing in an open vehicle along with Selja and former Haryana minister Kiran Choudhary, Priyanka waved towards people during her roadshow, which lasted for about an hour. It was her first such election outing in Haryana. Holding party flags, Congress workers raised slogans 'Congress party Zindabad' and showered flower petals on her.

Unemployment rate in urban areas dips to 6.7% in March quarter: Govt survey

The unemployment rate for people aged 15 years and above in urban areas declined to 6.7 per cent in the January-March period from 6.8 per cent a year ago, according to the National Sample Survey Survey (NSSO). Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. The unemployment rate in the March quarter of FY23 was 6.8 per cent, while it was 6.6 per cent in April-June as well as in the third quarter (July-September 2023) of the previous fiscal. It was 6.5 per cent in October-December 2023. The unemployment rate for people aged 15 years and above in January-March 2024 was 6.7 per cent in urban areas, the 22nd Periodic Labour Force Survey (PLFS) showed. It also showed that the unemployment rate among females (aged 15 years and above) in urban areas declined to 8.5 per cent in January-March 2024 from 9.2 per cent in the same quarter a year ago. It was 9.1 per cent in April-June 2023, 8.6 per cent in July-September 2023, and 8.6 pe

LS polls: Job promises galore as Odisha scores low on employment index

Despite declining by three percentage points in 2022-23 (FY23) compared to FY19, Odisha's unemployment rate remains higher than the average in India

US job growth slowed in April; nonfarm payrolls increased by 175,000

Financial markets boosted the odds of a September rate cut and saw the U.S. central bank reducing borrowing costs twice this year instead of only once before the data

It'll be a vote for Modi's performance, Odia pride: Dharmendra Pradhan

Pradhan talks about the NDA securing over 400 seats, the Narendra Modi government's alternative energy initiatives, and unemployment issue

Unemployment among Indian youth is transient, says RBI MPC member Goyal

Unemployment is highest for younger age brackets, but it is 'transient' as Indian youths spend more time acquiring skills and trying hands at entrepreneurship, RBI Monetary Policy Committee (MPC) member Ashima Goyal has said. There is steady improvement in job creation in the country with the strong growth recovery, Goyal added. "Youth unemployment is higher for the more qualified, but they also earn higher wages. "Therefore, youths are spending more time acquiring skills and in job search," she told PTI. Goyal was responding to a question on the International Labour Organization (ILO) report -- which showed that in 2022, the share of unemployed youths in India's total unemployed population was nearly 83 per cent. "Unemployment is highest for younger age brackets but it is transient...While they wait, they do informal work or take risks at entrepreneurship, where a few do very well," she added. Goyal pointed out that the ILO report also shows that youth unemployment has been fal

Jobs listed on govt's NCS portal surge threefold to 10.9 million in FY24

In FY24, the number of job seekers selected via the portal surged by 53 per cent to reach 8.72 million, compared to 5.72 million in FY23

Unemployment biggest worry in India, world's fastest growing economy: Poll

Prime Minister Narendra Modi's BJP, widely expected to return to power for a third straight term, had promised to create more jobs when elected in 2014

Citizenship, connectivity, unemployment key issues in Assam's Barak Valley

Citizenship, unemployment, poor infrastructure and lack of proper connectivity with the rest of the country are the major issues being highlighted by candidates contesting in the two Lok Sabha constituencies - Silchar (SC) and Karimganj - in Assam's Barak Valley, bordering Bangladesh. Thirty-two candidates are in the fray in the two Lok Sabha constituencies in Barak Valley which will go to the polls on April 26. In these two constituencies in the valley, which gets its name from River Barak, the ruling BJP first made inroads winning both seats in 1991 and 1996 when the party had practically no organisational base in the state. In Silchar, the contest is likely to be among BJP's candidate and Assam minister Parimal Suklabaidya, Congress's Surya Kanta Sarkar and AITC's Radheyshyam Biswas, a former AIUDF MP from neighbouring Karimganj. In Karimganj, a close contest is expected between BJP's sitting MP Kripanath Malla, Congress candidate Hafiz Ahmed Rashid Choudhury and AIUDF's Sahabul

Raghuram Rajan flags employment concerns amid India's growth momentum

Raghuram Rajan's remarks come at a time when unemployment remains a major issue in India, with a survey by Lokniti-CSDS revealing that 27% of voters consider it their top concern

The right to first job: Why apprenticeship hasn't taken off in India

Apprenticeship in India has failed to take off majorly due to the lack of awareness among the firms especially in the services sector, believe industry observers

Unemployment rate to decline 97 basis points by 2028, says ORF report

India's unemployment rate is likely to decline by as much as 97 basis points by 2028 as the country's economy hits the USD 5 trillion mark, fuelling a rise in employment, a new report said on Tuesday. Unemployment rate -- the percentage of people in the labour force who are without jobs -- is projected to fall from 4.47 per cent in 2024 to 3.68 per cent in 2028, the India Employment Outlook 2030 report by thinktank Observer Research Foundation (ORF) said. "India's job market is experiencing a transformation as the country has become the world's fastest growing large economy in the aftermath of the Covid-19 pandemic," the report said. The country's young population, whose median age is 28.4 years, holds a key to fuelling economic expansion. "With a GDP growth rate of 7.8 per cent, India could potentially achieve its target of becoming a USD 5-trillion economy by 2026-27, with such growth being underpinned by strong private consumption and public investment," it said. India's gross

Lok Sabha polls: Unemployment imposed by BJP biggest issue, says Kharge

Congress president Mallikarjun Kharge on Sunday said the biggest issue in the Lok Sabha elections is the unemployment "imposed by the BJP", claiming the youth are struggling to find jobs and the country is staring at a "demographic nightmare". In a post on X, Kharge said the Congress 'Pehli Naukri Pakki' guarantee under 'Yuva Nyay' would remove the barriers that separate work and learning, thereby opening fresh avenues for career growth. "The biggest issue in these Lok Sabha elections is unemployment, imposed by the BJP. Our Youth are struggling to find jobs, and we are staring at a demographic nightmare," the Congress president claimed. Citing the case of India's premier institutes, IITs and IIMs, Kharge said across 12 IITs, around 30 per cent of our students are not getting regular placements. "Only 20% of 21 IIMs could complete the summer placements so far. If this is the situation in IITs and IIMs, then one can imagine how the BJP has destroyed the future of our Youth across th

That tricky issue of job creation

Why is it so hard for government action to create jobs - so much so that even high economic growth under different regimes is not good enough to change the basic picture of unemployment?

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