The situation could become more acute as millions of migrants who had returned to their villages during the lockdown come back to the towns for higher wages and better livelihoods.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
'The top five IT giants are not hiring, but most of the freshers want to start their careers with the top five IT firms.' 'In today's scenario this is a challenge.'
How soon can India reach a point when there is no hidden underemployment and all who want work can find it at a fair wage and decent work conditions, asks Nitin Desai.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
India's unemployment rate fell to a six-year low of 3.2 per cent in the July-June 2022-23 period, down from 4.1 per cent in the same period the previous year, according to the latest annual Periodic Labour Force Survey (PLFS) report. The report, released by the National Statistical Office (NSO) on Monday, showed a decline in unemployment rates in both rural and urban areas during the 2022-23 period to 2.4 per cent and 5.4 per cent, respectively, from 3.2 per cent and 6.3 per cent in the 2021-22 period. The unemployment rate for rural women (1.8 per cent) was lower than that for rural men (2.7 per cent) in 2022-23; in urban areas, the rate was higher for females (7.5 per cent) compared to males (4.7 per cent).
'The focus for IT companies will shift from adding scale to building a smaller, more specialised, talent pool with specific domain expertise,' says Shyamal Majumdar.
India Inc is automating and squeezing more output from its workers and so needs fewer of them, finds out IndiaSpend Team.
These jobs saw a surge in demand in April, according to TimesJobs' latest report.
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
'We may see little softness in liquidity position after the stabilisation of the government.'
In years past, we often approached the Budget expecting to see changes in direct and indirect taxes. Those days are behind us. The Budget of today seeks to expand the economy and keep it at the forefront of technology, observes Harsh Goenka.
The cloud market in India is expected to grow by 26% by the end of 2022.
The T20 showpiece is also seen as a major stepping stone to the 2028 Los Angeles Olympics, where cricket will make a comeback after 128 years when the big event kicks off on June 1.
'The jobs that are being created now are the delivery boy jobs which are of extremely poor quality, or contractual jobs where you hire a person on a per piece basis.'
China tops the list with 3.5 million, followed by Brazil with 918,000.
'You cannot have only one product or one market or one customer segment.'
On a surprise visit to Beijing amid speculation that he may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China, billionaire Elon Musk on Sunday met Chinese Premier Li Qiang and discussed future expansion plans for his automobile.
While tenants can't escape the impact of rising rentals entirely, they can adopt a few strategies to reduce the impact.
'The China opportunity, the digital opportunity and the end of geography opportunity are the three pieces of luck India got due to Covid.'
India's services sector growth eased to a three-month low in June but service providers continued to signal positive demand trends, which resulted in a stronger increase in new business volumes and further job creation, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from 61.2 in May to 58.5 in June. Despite falling from May, the latest figure was consistent with a sharp pace of growth.
Crisis-hit SpiceJet plans to hand out pink slips to at least 1,000 employees in the coming days as the airline works to significantly reduce costs and streamline operations of its depleted aircraft fleet, officials said on Monday. Faced with financial woes, legal battles and other headwinds, the no-frills carrier might ask more staff to leave as there is excess manpower now compared to the number of planes in service. A final decision on the quantum of layoffs is expected this week, one of the officials in the know said.
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
Fresh out of college? Here are a few things you must consider while applying for a job for the first time.
Gains in financial shares capped further downslide.
With rapid adoption of emerging technologies, the Information Technology and Business Process Management (IT-BPM) industry is expected to generate about 3 lakh jobs this fiscal year, according to a report. The IT-BPM workforce is on the trajectory to grow 7 per cent in FY23, with the overall headcount increasing from 5.1 million to 5.45 million (close to 3 lakh jobs being created), the report by TeamLease Digital, the specialised staffing division of TeamLease Services said. The 'Digital Employment Outlook Report for H1-2023' highlighted that the demand for digital skills will grow 8.4 per cent by the end of this fiscal year.
The new jobs - created both directly and indirectly - will be across industries, including IT, skill development, content creation, retail, logistics, and manufacturing.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
AI and machine learning will only continue to grow in 2022, with a significant increase in the demand for such roles, notes Sekhar Garisa, CEO, Monster.com.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
Google on Tuesday began reinstating about 250 Indian apps it had delisted from its Play Store over a billing dispute as it caved in to government criticism, but the squabble may not yet be over.
Among the Sensex firms, JSW Steel, Titan, Tata Steel, Sun Pharma, Reliance Industries, Bharti Airtel, Tata Motors and HDFC Bank were the biggest gainers. NTPC, Tech Mahindra, Maruti, State Bank of India and Larsen & Toubro were among the laggards.
Full service carrier Vistara expects to add a total of 10 planes as well as hire more than 1,000 people in the current financial year and has shelved plans to fly to the US, according to a top executive. Currently, Vistara, which is set to be merged with Air India, has a fleet of 61 aircraft and a staff strength of over 5,200. During an interaction in Istanbul this week, Vistara CEO Vinod Kannan said there has been a ready pool of talent, especially pilots and cabin crew members, with the collapse of Go First.
'India has a lot of potential, not just in commercial aspects, but also in hiring of people and sourcing of products.'
Engineering, telecom and healthcare sectors are likely to add close to 12 million new jobs by FY26, largely due to the focus on recovery along with technology proliferation and digitisation in these segments, according to a report. A report by TeamLease Digital, the staffing division of TeamLease Services, said specialised staff or professional staff with high-skill and expertise will form nearly 17 per cent of the overall jobs created. The report -- titled 'Professional Staffing - Digital Employment Trends Report' -- is a qualitative research that has surveyed and interviewed more than 750 employers/ leaders from across engineering, telecom and healthcare sectors.
Tier-II and tier-III towns have a reason to rejoice.
Most companies find job seekers with domestic degrees good enough, a British Council survey said.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
'Career paths are no longer linear as professionals look to build a more holistic career portfolio that is true to their professional and financial goals.'
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