It is necessary that at least three million additional jobs (if not more) are created every year to ensure that there isn't an increase in the stock of unemployed, says Mahesh Vyas.
'The Indian State needs to focus on healthcare, education, infrastructure and law and order, and get out of all these regulatory cholesterols.' 'Then, India will fly.'
Only 13 per cent employers in India have hiring plans in the July-Septermber quarter, says a survey.
While supporting greater flexibility in labour markets, Prime Minister Manmohan Singh said there could be no 'uncritical endorsement' of the hire- and-fire approach.
Setting the bar high for 10 per cent growth, Prime Minister Manmohan Singh on Tuesday promised to explore FDI in retail, sort out problems in power sector and work for a flexible labour market.
Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery.
"Indian markets (are) well placed to absorb the US Fed rate hike. Gradual approach in future increases augurs well for emerging markets," Economic Affairs Secretary Shaktikanta Das has tweeted.
Job portal Monster.com's employment index rose to 136 in April as compared to 133 in the previous month.
Under these reforms, the H-1B programme will prioritise those workers who are offered the highest wage, ensuring that the highest-skilled applicants are admitted, the White House said.
Indian employers have the most optimistic hiring plans for the October-December quarter, driven by government's increased focus on ease of doing business.
Describing it as 'a very powerful order' Trump told reporters during his daily news briefing at the White House on Wednesday that he signed the order to protect American workers' jobs in an economy pummelled by the COVID-19 pandemic.
'There's a lot of confusion. It started because the President's tweet was all-encompassing.' 'It has been watered down over the last few days though to more narrow classes of immigrants.'
'Sachin Pilot once calculated that with a million Indians flooding the labour market every month, only an additional 12 million jobs annually could keep unemployment at the same level.' 'That's chickenfeed for the functionaries who cram my e-mail inbox every day with such a constant flow of job offers that trying to empty it is like trying to drink dry the horn connected to the ocean in Norse mythology,' says Sunanda K Datta-Ray.
Leading job portal Naukri.com said on Tuesday that hiring was happening in selective sectors.
The next policy meeting will be in mid-June, when the panel will be joined by Stanley Fischer, the former Bank of Israel governor whose nomination to the Fed's board was confirmed on Wednesday by the US Senate.
The labour participation rate tells us how many of the working age population are willing to be employed. If this proportion keeps falling as it evidently is, it does not bode well for India's growth story. It renders all stories of a revival in the economy as a myth, warns Mahesh Vyas.
However, the Indian government and companies need to focus on understanding the skill sets they would need in the future and train the country's young population accordingly to maintain the supply-demand balance of the job market, Manpower Group President (Global Corporate and Government Affairs) David Arkless told PTI in an interview in Davos.
'India has benefited from lower oil prices and remains the fastest-growing large economy in the world.'
In several countries, the average hours worked per year has fallen by more than 20.
India ranks 4th in the 2013 global manufacturing competitiveness index even as the country's growth rate has been pulled down in recent quarters.
Researchers at Ambit capital fear that the region "runs the risk of exploding as millions of barely literate men face a lifetime without jobs and without women."
Nearly 25 million jobs could be lost worldwide due to the coronavirus pandemic, but an internationally coordinated policy response can help lower the impact on global unemployment, according to a UN agency. In its preliminary assessment report titled 'COVID-19 and world of work: Impacts and responses', the International Labour Organization (ILO) calls for urgent, large-scale and coordinated measures across three pillars -- protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and incomes.
The uptick in hiring in October came after three consecutive months of decline, according to job portal Naukri.com.
The proclamation that comes into effect on June 24, is expected to impact a large number of Indian IT professionals and several American and Indian companies who were issued H-1B visas by the US government for the fiscal year 2021 beginning October 1.
Over the past three decades, a global labour market started taking shape.
Indeed has seen an increase in listings for drivers, food delivery runners, and other service providers.
The Nikkei India Manufacturing Purchasing Managers Index (PMI), fell from 52.1 in February to a five-month low of 51.0 in March, indicating the slowest improvement in operating conditions recorded by the survey since last October.
According to the ManpowerGroup Employment Outlook survey released on Tuesday, that covered 5,131 employers across India, a net 19 per cent of employers are anticipating an actual rise in their staffing numbers, while 52 per cent expect no change and 28 per cent are not sure about adding to their existing staff strength.
The biggest loss of jobs among salaried employees was of 'white-collar professional employees and other employees'. Among these are engineers including software engineers, physicians, teachers, accountants, analysts and so on, who are professionally qualified and are employed in some private or government organisation All the gains made in their employment over the past four years were washed away during the lockdown, reveals Mahesh Vyas.
In India, total employment grew by only 0.1 per cent yearly over the five years till 2009-10, says the report, "from 457.9 million in 2004-05 to 458.4 mn in 2009-10, while labour productivity grew 34 per cent over this period".
Sudipto Dey discusses the changing nature of jobs with Paul Dupuis, who recently took charge as India head of HR services major Randstad.
Sudipto Dey discusses the changing nature of jobs with Paul Dupuis, who recently took charge as India head of HR services major Randstad.
GCC consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
S&P Global Ratings has forecast India's economy to shrink by 5 per cent in the current fiscal. It, however, has projected GDP growth to be 8.5 per cent in 2021-22 and 6.5 per cent in 2022-23.
'Usually, urban wage rates are 50 per cent higher than rural wage rates. But, this could be narrowing very rapidly now,' points out Mahesh Vyas, CEO, Centre for Monitoring Indian Economy.
According to a UN Report, 205 million people were unemployed in 2010.
With GDP growth improving to a nine-quarter high of 5.7 per cent and the stock market brimming with optimism, now is the time for Modi to keep his promises.
The labour force fell from 43.97 crore in 2016-17 to 42.61 crore in 2017-18
The monthly Naukri Job Speak Index rose by two per cent last month as compared to April, indicating that hiring sentiment remains healthy.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances