Rediff reports on the reasons behind this dramatic shift.
White-collar hiring witnessed an 8.6 per cent annual decline in September, following a negative trend in sectors including IT, BPO or ITES and FMCG, a report said on Monday. On a month-on-month basis, however, there has been a growth of almost 6 per cent in job postings. In September, there were 2,835 white-collar job postings, down by 8.6 per cent compared to the same month last year when 3,103 jobs were posted, according to Naukri.com's monthly 'Naukri JobSpeak Index'.
Tata Electronics' Rs 91,000 crore semiconductor fab in Dholera, Gujarat, in partnership with PSMC, will generate over 20,000 direct and indirect skilled jobs in the region and construction of the mega unit is expected to begin this year, according to a statement on Thursday. The planned unit - India's first commercial fab, marks Tata Electronics' entry into the global semiconductor industry. Tata Electronics said it is "proud to lead India's entry into global semiconductor fabrication".
The rate of unemployment in the country, measured in monthly term, rose to 5.6 per cent in May from 5.1 per cent in April this year mainly due to seasonal variation, showed the government data released on Monday.
'Many of these issues will be resolved within 6 months because the US economy has started unravelling.'
Six states out of 22 major states and Union Territories (UTs) generated fewer formal jobs for the youth in the September quarter than they did in the corresponding quarter a year ago, a Business Standard analysis of the data released by the Employees Provident Fund Organisation (EPFO) shows. States like Punjab (-12.4 per cent), Himachal Pradesh (-10.3 per cent), Jharkhand (- 7.2 per cent), Assam (-3.7 per cent), Gujarat (-3.4 per cent) and Rajasthan (-.1.1 per cent) saw further decline in the number of net new subscribers in the second quarter (Q2) of FY23 compared to the last year. The analysis did not include northeastern states, except for Assam. This is crucial as the subscribers in the 18-28 age group are seen as first-timers in the labour market, thus reflecting the robustness of the job market.
Starlink's application for offering satcom services in India had been held up for the company's inability to comply with mandatory ownership disclosure norms.
Roles ranging from digital marketing to wealth management are some of the emerging roles, notes Sekhar Garisa, CEO, foundit, a job search app.
Intuitively solving a problem like multiplying 43 by 11, they might first multiply 43 by 10, and then add 43, reaching the final answer of 473.
While the country's unemployment rate is falling, the quality of employment seems to have taken a hit. The pace of formalisation slowed in the five months of the current financial year (April-August) with more than half a million fewer formal jobs created in the period compared to the same period last year, according to data from the Employees' Provident Fund Organisation (EPFO). The payroll data showed that cumulatively 4.92 million new subscribers joined the social security organisation between April-August this year, compared to 5.51 million subscribers in the same period in the previous year, reflecting a 10.7 per cent decline in the number of new payrolls created.
'Every Indian should move to an EV, and the government should not buy any fossil fuel cars. The government should become the first driver of EV adoption.'
The Karnataka high court on Monday did not grant interim relief to Nikhil Sosale, head of marketing, Royal Challengers Bengaluru (RCB), who was arrested on June 6 in connection with the fatal stampede near M Chinnaswamy Stadium, and adjourned the matter for hearing on Tuesday.
'Someone posts a job on LinkedIn and there are a thousand resumes in an hour? This is not the America IT professionals are used to.' 'Once they lose their job, it's impossible to get a job.'
Considering factors like job prospects, growth potential and industry trends can provide valuable insights into selecting a suitable career path, suggests rediffGURU Rohit Gupta.
Making it clear that relaxations will not be provided to US-based electric vehicles major Tesla unless it participates in manufacturing activities in India, Union Minister Krishan Pal Gurjar on Tuesday said there cannot be a situation where the market is India but jobs are created in China. The minister of state for heavy industries also told the Lok Sabha during Question Hour that the company is yet to apply for schemes as per the government's policy. Last year, the Elon Musk-led company sought a reduction in import duties on electric vehicles (EVs) in India but the Ministry of Heavy Industries asked the firm to start manufacturing its iconic EVs in the country before any tax concessions can be considered.
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
E-commerce portal sabkuchbecho.com is looking for marketing executives and content counsellors.
Housing sales in seven major cities rose 5 per cent annually to about 1.2 lakh units during the April-June period, while demand fell 8 per cent from the preceding quarter on surge in prices, according to Anarock. Real estate consultant Anarock, which is one of the leading housing brokerage firm, on Thursday released the data of housing market for the current April-June quarter. In April-June 2024, housing sales across seven major cities are estimated at 120,340 units, up 5 per cent from 115,090 units in the year-ago period.
Salaries in India are expected to increase by 9.5 per cent in 2024, slightly lower than the actual increase of 9.7 per cent in 2023, largely in response to market dynamics, according to global professional services firm Aon plc. According to the firm's annual salary increase and turnover survey 2023-24 India, that analysed data across 1,414 companies from almost 45 industries, salary increase in India seems to have stabilised at high single digits, after the post-pandemic high increments in 2022. "The projected increase in salaries in the Indian formal sector indicates a strategic adjustment in response to the evolving economic landscape.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
The quality of employment has deteriorated in 12 of the 21 major states and Union Territories, as the proportion of workers in regular or salaried jobs declined between July 2022 and June 2023 compared to the previous year, according to a Business Standard analysis of the latest Periodic Labour Force Survey (PLFS) released by the National Statistical Office. Assam experienced the most significant decline in the share of workers in salaried work, dropping by 8.7 percentage points to 10.8 per cent in the July 2002-June 2023 period from 19.5 per cent in the July 2021-June 2022 period. This was followed by Delhi (6.2 percentage points), Uttarakhand (5.2 percentage points), and Chhattisgarh (1.6 percentage points).
'We are expected to grow at above 28 per cent this year, higher than the industry.'
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
Try to maintain a healthy relationship with people you have worked for and within the past, suggests Sachin Alug.
The churn in Indian labour markets will be led by technology-driven sectors like artificial intelligence and machine learning (38 per cent), followed by data analysts and scientists (33 per cent) and data entry clerks (32 per cent).
Employers in India are planning to outpace global adoption in certain future technologies as companies operating in the country are heavily investing in technologies like artificial intelligence (AI), energy technologies, robotics, and autonomous systems, said the World Economic Forum (WEF) in its latest "Future of Jobs" report released on Wednesday. The report, released days before the WEF annual meeting in Davos from January 20-25, notes that 35 per cent employers in India think that adopting semiconductors and computing technologies (compared to 20 per cent globally) will transform their operations while 21 per cent employers think that adopting quantum and encryption technologies (compared to 12 per cent globally) will also transform their operations.
'In the current scenario e-commerce delivery is flourishing, driving demand.'
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
There will be a huge market for healthcare professionals, data and security experts and digital marketers, says Navneet Singh, founder, Avsar HR Services.
'It can position itself as a China Plus One solution, fulfilling the demands of developed economies.'
rediffGURU Nayagam PP counsels students and aspiring professionals on how to pick the right courses and scale up in your career.
ICFAI University is recruiting Sales and Marketing Executives.
India's manufacturing sector growth started the year 2025 on a strong footing and touched a six-month high in January, fuelled by the steepest upturn in exports in nearly 14 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from December's one-year low of 56.4 to 57.7 in January supported by the fastest upturn in new export orders since February 2011.
'Some people even boldly ask for a 100% increase in the salary.'
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
The tech community, which was getting ready to use the ChatGPT fever and raise unlimited capital for their businesses, is going to face tougher obstacles now, predicts Ajit Balakrishnan.
On India, the chart showed that the country charged 52 per cent tariffs on the US "including currency manipulation and trade barriers," and America will now charge India "discounted reciprocal tariffs" of 26 per cent.
'As you gain experience, you realise that none of this is personal.' 'The failures actually teach you bigger and better lessons.'
In two years, the start-up Overqualified Housewives has helped over 6,000 women across India find flexible-job roles across India from salaries ranging between Rs 8,000 to Rs 80,000, making them financially independent.
