JOB CREATION
Indian job market likely to get busy and bustling
The Indian job market is expected to witness a notable increase in workforce expansion. The projected growth for H1 FY25 (April-September) indicates a significant rise to 6.33%, compared to around 4.2% in H2 FY24 (October-March). This expansion in the workforce serves as a crucial indicator reflecting economic growth, business confidence, and organizational strategic planning.
Zap our human capital to shape
India needs to make sure that no one is left behind as it quickens its growth trajectory. Social and economic advancement will be essential for this. Every child in India has to have access to the education they need and be given the opportunity to pursue their dreams of becoming successful adults.
Leather, footwear exporters seek PLI scheme in Budget to boost jobs, manufacturing, shipments
The Council for Leather Exports (CLE) urged the government to extend the Production-linked Incentive (PLI) scheme for the leather and footwear sector to boost job creation and manufacturing. At a pre-budget meeting, CLE Chairman Rajendra Kumar Jalan also requested import duty exemptions on wet blue, crust, and finished leather to enhance competitiveness.
Fancy a career in gaming? Check out the in-demand roles, skills and more
Video games have evolved from mere leisure activities to lucrative career options, driven by technological advancements and increased accessibility. The industry demands skilled professionals like developers, designers, and testers. Various courses and certifications cater to these roles, enhancing employability. Essential skills include proficiency in game engines, programming languages, and soft skills like creativity and communication.
India business activity rises in June, job creation at 18-year high
India's business activity expanded at a faster pace this month than in May, thanks to gains in manufacturing and services. The pace of job creation was at its strongest in over 18 years, marking a strong start to the country's economy this financial year. HSBC's flash India Composite Purchasing Managers' Index rose to 60.9 in June, marking nearly three years above the 50-level separating growth from contraction.
Get on the job of jobs
A thorough assessment of historical and current employment trends across sectors leads to a deeper dive into complexities of jobless growth. Mapping out the strengths and weaknesses of each sector is crucial for formulating strategies to enhance job-creating potential. In addition to understanding the employment-generation capacities of different sectors, India's low labour force participation rate (LFPR) poses a significant challenge.
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Formal job creation under EPFO at 72-month high in April at 1.89 million
Provisional payroll data, released by the ministry of labour and employment on Thursday, shows new formal job created under EPFO was 31.3% higher than 1.44 million net members added to EPFO in March 2024, attributing the surge in membership to various factors, including increased employment opportunities, a growing awareness of employee benefits, and the effectiveness of EPFO's outreach programs.
Job creation is India's top economic challenge, policy experts say
According to a poll of policy experts by Reuters, tackling India's chronic joblessness will be the biggest challenge for the government over the next five years, despite the country's status as the world's fastest-growing major economy. The economy grew more than 8% last fiscal year, but this growth has not translated into sufficient job creation, particularly for young people. The recent parliamentary elections saw Prime Minister Narendra Modi's BJP losing its majority, partly due to issues such as widening inequality, inflation pressure, and a lack of well-paying jobs.
Formal job creation under ESIC down by 7.8% in April to 1.64 million as compared to 1.78 million in April 2023
The provisional payroll data, released by the ministry of labour and employment shows that out of the total 1.64 million employees added during the month, 0.78 million employees or 47.6% of the total employees added to ESIC were up to 25 years of age, suggesting more jobs have been generated for the youth of the nation.
Budget 2024 an opportunity for Nirmala Sitharaman to play some good shots
The Lok Sabha election results in India surprised many as they diverged from the exit polls. The focus now shifts to the Union Budget 2024, setting the economic tone for the future. All eyes will now be on Finance Minister Nirmala Sitharaman.
Kumaraswamy clarifies remarks over job creation, says semiconductor industry strategic for India
Union Minister HD Kumaraswamy clarified he was misquoted about remarks on US semiconductor firm Micron, stressing the importance of the semiconductor industry for electronics and automobile manufacturing. He expressed appreciation for @PMOIndia's initiatives and pledged to support them through his ministry. Kumaraswamy emphasized the strategic significance of bringing the semiconductor sector to India and creating jobs in the small-scale industry.
SEO skills are a must for freshers to thrive in the modern job space
Professionals need SEO skills to drive organic traffic and improve website visibility. Employers value fresh talent with SEO expertise for innovative ideas, cost-effective strategies, and enhancing online presence.
Govt’s PMAY move to help boost affordable housing, drive economic growth
In the interim budget earlier this year, Finance minister Nirmala Sitharaman had announced support for the construction of an additional 2 crore homes in the next five years under the PMAY - Gramin (PMAY Rural). The PMAY budgetary allocation was also increased to Rs 80,671 crore for 2024-25 from Rs 79,590 crore in 2023-24.
Govt needs to adopt granular approach to support biz, promote jobs: PwC Chairman
PwC in India Chairperson Sanjeev Krishan emphasizes the need for a granular and tailored approach to support small businesses, promote job creation, and ensure inclusive economic growth in Modi 3.0 government's agenda.
Focus is on job creation, farmers getting good prices: Giriraj Singh
Newly appointed textiles minister Giriraj Singh emphasized the government's focus on creating employment and ensuring good prices for farmers in the textile sector. Singh highlighted the sector's role as the largest generator of employment and its significant share in global exports.
Govt may increase emphasis on consumption and job creation: Pramod Gubbi
So, we went into the elections quite strongly positioned for a potential adverse event. But it was not because we expected any adverse event. It is just our style of investing. So, to that extent, there has been almost next to nothing in terms of changes that we have made pre or post elections.
Jobs that vanish: Stay away from ghost jobs to save time and money
Online job platforms have simplified job searches, but fake or ghost jobs persist, wasting time and effort. Applicants must spot and avoid phantom job postings to prevent demotivation and financial loss.
Job market recovery may slow, for now
The absence of a decisive mandate in the 2024 elections may impact job market recovery temporarily. Coalition partners will have a stronger voice in policy decisions, affecting investor sentiment. Experts anticipate a short-term slowdown in job creation.
Market will soon start acting and reacting to economic fundamentals
The unexpected election results and resulting uncertainty have triggered market jitters, reminiscent of similar situations in 2004 and 1991
Will an NDA-led Modi 3.0 see Centre more open to welfare measures?
Prime Minister Narendra Modi and the Bharatiya Janata Party (BJP) have consistently opposed the distribution of freebies, as seen in their manifesto "Modi ki Guarantee," which avoided commitments like guaranteed pensions for government employees or reinstating rail concessions for seniors. In contrast, the Congress party's promises included substantial financial incentives like Rs 1 lakh annual aid for women and waivers on education and farm loans.
India's services sector softens to five-month low in May: PMI report
India's services growth slowed to a five-month low in May due to weaker domestic demand, despite record export growth and a 21-month high in job creation. The services PMI fell to 60.2 from 60.8 in April. Input costs rose, intensifying price pressures and possibly delaying interest rate cuts by the RBI.
Is it time to buy large-cap stocks after yesterday's market drop? Arvind Sanger answers
We invest in companies where we feel promoters' interests are aligned with shareholder interests for long-term value creation and we will have to see in the current coalition government what are going to be the new areas of emphasis and what is going to be the continuity.
As India steps back into coalition era, uphill road for tough reforms
In the new coalition government era, India's reform agenda may prioritize job creation and factors market reforms. Balancing political sensitivities and reform priorities will be crucial for the government in navigating coalition dynamics and opposition pressures.
'One Nation One Election, UCC, growth of India's global profile': Industrialist Harsh Goenka lists out expectations from Modi 3.0
Expecting Narendra Modi-led NDA to come back to power for a historic third term, Goenka said he expects implementation of One Nation One Election, Uniform Civil Code and further growth of India's global profile. In his post, he also expects agricultural reforms, continued efforts to boost economy through infrastructure and manufacturing, further push digitalisation, expand healthcare and education, job creation a priority, labour reforms, greater investments in energy and climate, and further grow India's global profile.
India's employment data: PM Modi's naukri numbers appraisal spars with Congress in election fray
Narendra Modi: India is in the final stages of a significant election campaign, with a focus on job discussions taking precedence. The ruling BJP, led by Prime Minister Narendra Modi, highlights positive employment indicators. However, the opposition, particularly Congress leader P. Chidambaram, challenged these claims and demanded transparency on job creation data.
Is India suffering from an unemployment issue? PM Modi says the country is generating jobs
Prime Minister Narendra Modi defended his government's job creation efforts, citing a significant increase in taxpayers and EPFO subscribers, and growth in the startup sector. Modi emphasised his vision of a 'Viksit Bharat,' where every Indian can dream big. He highlighted achievements in manufacturing, research, and self-reliance. He pledges to focus on infrastructure and development if re-elected for a third term.
EPFO created 11.4% more formal jobs in 2023-24 at 15.4 million, shows payroll data
The provisional payroll data, released by the ministry of labour and employment on Monday, shows 1.44 million net members were added to EPFO in March, 2024 vis-a-vis 1.54 million added in February out of which 0.74 million were new members.
White-collar hiring falls 3% in April, shows Naukri JobSpeak Index
Despite a 3% year-on-year and 1% month-on-month decline in white-collar hiring, various sectors experienced job growth. Notably, demand surged for specific roles like drilling engineers, brand managers, and IT professionals in different cities.
Can India's quick commerce revolution be a catalyst for job creation?
Q-commerce in India, led by major players like BlinkIt, Swiggy Instamart, and Zepto, is reshaping the retail landscape. The sector's rapid expansion offers significant job opportunities, especially in logistics, warehousing, and technology-driven roles, promising continued growth.
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