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.
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.'
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.
'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.
Indian employers have the most optimistic hiring plans for the October-December quarter, driven by government's increased focus on ease of doing business.
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.
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.
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.
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.
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."
India ranks 4th in the 2013 global manufacturing competitiveness index even as the country's growth rate has been pulled down in recent quarters.
Indeed has seen an increase in listings for drivers, food delivery runners, and other service providers.
The uptick in hiring in October came after three consecutive months of decline, according to job portal Naukri.com.
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.
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 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.
Over the past three decades, a global labour market started taking shape.
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.
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".
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.
GCC consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.
The employment that is returning is mostly essential services required by Indian households. Most urban Indian households cannot function without a retinue of maids, cooks, drivers, cleaners, notes Mahesh Vyas.
The labour force fell from 43.97 crore in 2016-17 to 42.61 crore in 2017-18
'People are getting back to work.' 'The worst seems to be over.' 'It is very likely that the recovery is mostly among the informal, self-employed, workers who cannot afford to be away from work for too long,' notes Mahesh Vyas.
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.
Around 81 per cent of the workers constitute the unorganised sector - devoid of any social security cover and outside the purview of a complex set of labour laws.
The monthly Naukri Job Speak Index rose by two per cent last month as compared to April, indicating that hiring sentiment remains healthy.
South Asian countries, led by India, registered a rapid economic growth in 2010 and their unemployment rates dipped marginally from the previous year, says the latest annual Global Employment Trends (GET) report of the International Labour Organisation (ILO).
Although India is a labour-surplus economy with an unlimited number of workers willing to work at a subsistence wage a paradoxical feature of the labour market is the rising incidence of scarcity or shortages amid a situation of potential plenty.
There is no doubt that the global economic crisis has further exposed the fragility of youth in the labour market.
At this point, it is crucial to think of solutions that will help flatten the curve and also generate income, says Pratyush Banerjee.
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