Page 7 - Unemployment

German unemployment edges down by 2,000 to 2.694 million in January

The Federal Labour Office said the number of people out of work decreased by 2,000 in seasonally adjusted terms from December to 2.694 million

Europe's economic blahs drag on with zero growth at end of last year

Europe's economy failed to expand at the end of 2023, with the stagnation now lasting for more than a year amid higher energy prices, costlier credit and lagging growth in powerhouse Germany. Zero economic growth for the October-to-December period of last year follows a 0.1 per cent contraction in the three months before that, according to figures released on Tuesday by EU statistics agency Eurostat. That extends a miserable run of economic blahs: The 20 countries that use the euro currency have not shown significant growth since the third quarter of 2022, when the economy grew 0.5 per cent. And the start of this year looks no better, with indicators of business activity still flashing red for contraction. Plus, disruptions to shipping in the Red Sea have constricted global trade through the Suez Canal, a major route between Asia and Europe, surging shipping costs and threatening to boost inflation. The eurozone is still struggling to find a bottom, said Holger Schmieding, chief ..

PM Modi failed to provide 20 mn jobs per year: K'taka CM Siddaramaiah

Chief Minister Siddaramaiah on Wednesday alleged that Prime Minister Narendra Modi failed to provide two crore jobs per year as promised by him

TikTok cuts 60 jobs in sales, advertising division as tech layoffs continue

The positions affected were based in Los Angeles, New York, Austin and overseas, a company spokesperson said

SAP to restructure 8,000 jobs in push towards AI, shares hit record

The company said it will spend 2 billion euros ($2.2 billion) on the programme to either retrain employees with AI skills or to replace them through voluntary redundancy programs

Delhi pollution crisis: Informal sector workers grapple with job loss

Saroj, a 55-year-old construction worker residing near the Bakkarwala landfill site, embodies the challenges faced by informal sector workers amid the escalating air pollution crisis in Delhi. In the wake of frequent construction bans to combat air pollution, Saroj found herself periodically unemployed for the past three months, grappling to make ends meet. For people like her, whose primary income source is construction work, the shutdown presents a formidable financial setback. "There has been no stable construction work since October (Diwali) and we have been sitting at home for three months now. The contractor informs us that work will only resume in a few months when the air pollution situation improves," she said. Working in the construction industry, despite its polluting nature, has become an unavoidable necessity for these workers, exposing them to some of the most severe health repercussions. "Fever, cough and cold and stomach issues are very common for us living close t

Online furniture retailer Wayfair to cut 1,650 jobs to trim costs

The company has been taking cost-savings initiatives since August 2022, in a bid to operate more efficiently. Last year, it said it would cut 1,750 jobs, or about 10% of its workforce

Govt focusing on skill development to make youths job ready: Chandrasekhar

Union minister Rajeev Chandrasekhar on Friday said the government has been focusing on skill development of youths to make them ready for jobs and they should grab the opportunity. Before 2014, out of the 42 crore workers of the country, 31 crore used to go for work without skill and education and skill but now the scenario has been drastically changed following launching of Skill India in 2015, Chandrasekhar said. The minister of state for skill development and entrepreneurship was speaking at a Kushal Bharat Viksit Bharat' programme at Town Hall here. "Prime Minister Narendra Modi has changed the 65-years of disadvantage of our young workforce by skilling and upskilling them," he said. Chandrasekhar said the country was among the fifth fragile economies in the world before 2014 and now it is among the top five economies. "It is the new India. The youths will get a lot of opportunities if they have skill and education. We are focusing on skill development of the youth of the coun

Thousands of Indian workers queue up for jobs in Israel, undeterred by war

"There is unemployment here and its because of it that people want to leave," said Lekharam, a mason who was among the workers gathered at a recruitment camp in Rohtak, 66 km (40 miles) from Delhi

Canada plans cap on int'l students amid housing crisis, unemployment

Miller said he will be looking at the possibility of setting a cap on international students to help reduce the demand for housing in both the first and second quarters of this year

Cong slams Modi govt over issue of unemployment, says job famine worsened

The Congress on Thursday alleged that the country's "jobs famine" has worsened in the last ten years of Modi government, and accused the prime minister of miserably failing to fulfil his promise of creating two crore jobs every year. Congress general secretary Jairam Ramesh said India's youth deserve growth that delivers them good quality jobs not joblessness and 'pakora' shops. According to data from Centre for Monitoring Indian Economy, unemployment for youth aged 25-29 was the highest in almost four years, at 15.5 percent in December 2023, he said. "This means that unemployment now is worse than it was during the COVID-19 pandemic," he alleged. For youth aged 20-24, he said the unemployment rate hit a peak of 45.5 percent. Even for those between ages 30 and 34, the unemployment rate is at a three-year high, he claimed. "The crisis is especially bad in rural areas, and more and more families are turning to MGNREGA as there are no other jobs available," he said. "It is absolute

Rahul Gandhi, Kharge identify unemployment, inflation as key problems

Cong picked Nagpur to mark its foundation day and launch its LS campaign, 'Hum Tayyar Hain', given the city's salience in shaping the ideological contours of the last hundred years of Indian politics

New US unemployment benefits claims rise again as labor market cools

The figures tend to be volatile around the holidays. The four-week moving average, which offers a clearer picture of the trend, was little changed at 212,000 last week, the lowest since late October

Unemployment most burning issue in country: Congress President Kharge

Unemployment is the most burning issue in the country, Congress president Mallikarjun Kharge said on Sunday. In an apparent attack on the BJP-led Centre, Kharge said in a post on X in Hindi, "The youth of the country are asking where are the two crore jobs per year? Why is the process between recruitment exams and securing a job so complicated?" "Unemployment is the most burning issue in the country," he said. Citing the periodic labour force survey (PLFS) of July 2022-June 2023, he said, "The unemployment rate for persons aged 15-?29 years is 10 per cent." Quoting the PLFS data, the Congress president said rural unemployment in the country in the age group of 15-19 years stood at 8.3 per cent in the July 2022-June 2023 period, while urban unemployment for the same category in this period was higher at 13.8 per cent. "Why was the MSME sector destroyed, jobs of crores of youth were snatched away and their future ruined?" his post added.

'Discontents' notwithstanding, India has done well in last quarter century

While India should be concerned about disparities, the fact is that whereas three decades ago about half the people had incomes greater than $2.15 a day, today seven out of eight do, writes T N Ninan

Blue-collar workforce in India saw 7% rise in hiring in 2023: Indeed report

Indeed, a global hiring and matching platform, surveyed 1,223 employers, 2,671 blue-collar jobseekers, and 2637 white-collar jobseekers

Unemployment rate in Delhi higher than national level for men, women

The unemployment rate in Delhi was higher with almost double in case of females as compared to the country's average, said a Delhi government report. According to the 'Women & Men In Delhi-2023' report, the unemployment rate was 5.1 per cent for males and 6.0 per cent for females in Delhi in 2021-22 while at all India level it was 4.4 per cent for males and 3.3 per cent for females. The broad employment status showed that 33.1 per cent of working men in the city were self-employed, 63 per cent were in the regular wage/salaried employee category, and 3.5 per cent were in the casual labour category. Among the female workers, only 17 per cent were engaged in the self-employed category while 83 per cent were in the regular wage/salaried employee category, said the report. Industry-wise, out of total female workers, 59.74 per cent were engaged in 'other services' followed by 'trade, hotel and restaurant' (14.73 per cent) and 'manufacturing' (14.19 per cent) in 2021-22. In case of male

Congress will provide work to unemployed in Telangana: Digvijaya Singh

The state is poised for a three-cornered contest between the ruling BRS, which is bidding to return to the hustings for a third straight term, the Congress, and a resurgent BJP

Japan's economy sinks into contraction as spending, investment decline

Japan's economy slipped into a contraction in the third quarter, decreasing at an annual pace of 2.1% as consumption and investments shrank, the government reported Wednesday. Real gross domestic product, which measures the total value of a nation's products and services, fell 0.5% in the July-September period for the world's third largest economy, the Cabinet Office said. That would produce a 2.1% drop if the quarter's performance continued for a full 12 months. The downturn came after the economy grew a revised 3.7% in the first quarter and a revised 4.5% in the second quarter on an annualized basis, according to the government figures. The third quarter's performance was far worse than what had been expected, according to the financial services company ING, which had forecast an annual contraction of 0.5%. Most of the miss in the consensus forecast came from weaker-than-expected domestic demand items, such as consumer spending, business investment and inventory accumulation, Rob

Will create 1 lakh jobs if voted to power in Mizoram, says Congress

Congress will create 1 lakh jobs if it is voted to power in the November 7 Mizoram assembly polls, a party leader said on Friday. Congress media cell chairman Lalremruata Renthlei said the party will introduce the Young Mizo Entrepreneurs Programme (YmElevate) to provide startup funds and jobs to the youth. "Under the programme, incubation and startup funds will be given which will help in creating more than 1 lakh jobs," Renthlei told a news conference here. Renthlei said the party will also introduce 'Tang Puihna,' a monetary assistance scheme for farmers and entrepreneurs to develop sustainable economic and livelihood activities. Hitting out at the ruling Mizo National Front (MNF), the Congress leader said the party had failed to create jobs and provide employment to youths. He added that although the MNF claimed to have created 7,983 jobs during the last five years, only 2,218 youths got it through direct recruitment. "Of the 7,983 jobs, 4,437 were merely promotions and anoth