LABOUR FORCE
Meet Victoria Starmer: The quiet force behind Keir Starmer's rise to UK premiership
Victoria Starmer, wife of Keir Starmer, has largely kept a low profile despite her husband's political career. Both trained as lawyers, they married in 2007, shortly before Keir became Director of Public Prosecutions. Victoria, described by Keir as grounded, sassy, and funny, works in occupational health in the NHS. They prioritize their children's privacy, shielding them from public attention. Their family, including their Jewish heritage and ties to Israel, remains central amid the challenges and scrutiny of Keir's impending role as the UK's Prime Minister.
Will ensure hardworking labourers get full rights, respect: Rahul Gandhi
Congress leader Rahul Gandhi has defended the future of India's labourers, describing them as "builders of India" under the Narendra Modi government. He stated that these workers face severe hardships, including daily wage workers running their households for four days with a single day's earnings, without savings, and living off the burden of paying interest.
New PM Starmer pledges to rebuild Britain after years of chaos
Keir Starmer at Downing Street, after Labour’s landslide victory, pledged to restore trust and rebuild Britain. But he warned that it will take time.
Keir Starmer promises 'government of service' in first speech as UK PM
Keir Starmer, as Britain's 58th Prime Minister following Labour's landslide win, promised a "government of service". He met King Charles III and, alongside his wife Victoria, greeted supporters in Downing Street. In his inaugural address, he emphasized national renewal, acknowledged sacrifices, stressed trust and public service, praised predecessor Rishi Sunak, and marked a new Labour Party-led government.
Govt sets up task force to study impact of AI on future of work: Labour secretary Sumita Dawra
The government has formed a taskforce to examine the effects of artificial intelligence (AI) on the future of work, according to labour secretary Sumita Dawra during an industry interaction in Hyderabad on Friday. The announcement was made at an event organized by the Confederation of Indian Industry (CII) and the Employers’ Federation of India (EFI).
What Labour victory means for India-UK ties & markets? Arnab Das explains
There is a disconnect where the geopolitical and geoeconomic tensions are high. Still, the reality of the macro on the ground is that the integration continues. So, there is not going to be any big rupture in Asia, but there is going to be a continuing integration or continuing alignment of India and other countries in Asia with the West including the UK, Invesco’s Arnab Das.
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UK Elections: Can exit polls be trusted? How accurate are they?
Exit poll predictions for an election are made after the last vote has been cast. It is natural to suspects it’s accuracy, especially when they are released immediately after the elections have concluded. In the UK, it has been found that the exit poll predictions have been accurate so far. The exit polls have now predicted a comprehensive victory for the Labour Party in the elections which have just concluded.
India looks to match world average for share of women in workforce
Proposals under consideration include incentives to create employment, development of the care economy, and enabling easier access to finance to encourage more women to join the labour force, said people aware of the deliberations.
Vasant Vihar wall collapse: 3 bodies found, toll in rain-related incidents in Delhi rises to 8
In Vasant Vihar, Delhi, heavy rains triggered the collapse of an under-construction wall on Friday, claiming the lives of three labourers. The victims, including Santosh Kumar Yadav (19) and Santosh (38), were identified from the rubble, while one remains unidentified. The Delhi Fire Services, aided by cranes and pumping equipment, recovered the bodies amidst ongoing rain-related tragedies that have now claimed eight lives in the city. Rescue efforts involving NDRF, Delhi Disaster Management, and civic teams are underway to ensure no one else remains trapped.
Mass entrepreneurship movement: How India's economy is getting reshaped
India's mass entrepreneurship movement, supported by cross-sector partnerships, aims to create 90 million non-farm jobs by 2030.
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.
Govt mulls more frequent job data surveys
India's Ministry of Statistics and Programme Implementation (MoSPI) is considering increasing the frequency of the Periodic Labour Force Survey (PLFS) from quarterly urban unemployment data to monthly, and shifting the release of rural employment data from annual to quarterly. Officials are also discussing revising the base year for gross domestic product (GDP) and inflation. These efforts aim to leverage technology to enhance efficiency and reduce data lag, ensuring compliance with international standards.
Som Distilleries & Breweries' child labour incident casts a cloud over India Inc's supply chains
Listed company SDBL in Bhopal rescued 58 children from child labour. Bachpan Bachao Andolan aided in rescue operation. While listed companies themselves rarely engage in child labour practices, they can become inadvertently connected to such practices through their supply chains. These issues predominantly involve smaller, unorganized entities in sectors like textiles, carpets, mining, firecrackers, and agriculture, where supply chains are intricate and challenging to oversee.
Lok Sabha results won't force India's budget to make significant policy shifts: Fitch
Fitch Ratings anticipates minimal policy shifts in India post-election losses. The upcoming July budget will detail economic reform plans and fiscal goals for the next five years, crucial for addressing fiscal metrics, reducing debt, potential deviations from capital expenditure commitments, the risk of heightened social spending, progress in judicial reforms at the state level, and reforms in the manufacturing sector.
Mandate 2024 is about making economic governance the new govt's centrepiece
Even though India is experiencing an 8.2% growth rate, the real political question is whether the people feel this growth. Opinions will vary, but the essential takeaway is that much more needs to be done, as indicated by the mandate in Lok Sabha elections.
Birth better solutions to raise productivity
The global fertility rate is nearing the replacement rate, and the world may be only years away from depopulation, according to UN projections. Rich economies are already below replacement levels, while least developed nations have higher rates. The UN has been lowering its estimates, and variations in mortality rates and sex ratios complicate the replacement rate. Coping strategies like raising the retirement age and increasing immigration have limitations. Declining fertility in India, coupled with poor healthcare and adverse sex ratios, threatens its economic growth and productivity.
Trans-Europe express: How Indian businesses can sustain and grow in Europe
India's recent free trade agreement with the European Free Trade Association presents significant trade opportunities with the EU. However, Indian businesses must comply with new EU supply chain laws to sustain and grow in Europe. Key legislative changes include deforestation regulation, corporate sustainability and due diligence directive, and forced labor regulation.
The man who escaped the scam rings of Cambodia
Thousands of workers are trafficked to Southeast Asia to commit cyber fraud on their fellow citizens over social media. Ex-serviceman Botcha Sankhar, who was forced to work in the scam compounds of Cambodia for six months, unravels the modus operandi of this new and terrifying form of crime and forced labour
World unemployment to fall slightly in 2024: UN
The International Labour Organization (ILO) predicts a slight decrease in global unemployment in 2024, contrary to its earlier forecast of a rise, citing "slow progress" in addressing inequalities. Despite improvements, disparities persist, with women in low-income countries disproportionately affected. The ILO calls for inclusive policies to ensure a fair recovery.
Kerala tops youth unemployment rate, Delhi registers lowest: PLFS Survey
The survey, which covered 22 states and Union territories, identified Jammu & Kashmir, Telangana, Rajasthan, and Odisha as other states with high unemployment rates in this age category.
Better half: Are women faring better in urban job market?
Women’s labour force participation in urban areas rose to its highest level in Q4FY24 since the start of the series in 2018, whereas the unemployment rate declined further to 8.5%. But their share in salaried work has declined further. Ishaan Gera takes a look:
Anand Mahindra has a 'thoughtful solution' to modernise manual hand carts: Here's what it is
Anand Mahindra, chairman of Mahindra Group, has urged students from technical institutes and the online community to propose ideas for motorizing hand carts. Inspired by a suggestion from his retired colleague, Commodore Mike Bhada, Mahindra highlighted the need to ease the burden on hand cart operators by fitting carts with inexpensive battery-operated motors. He emphasised that while India excels in advanced technology, solutions for everyday challenges are crucial.
India needs to reduce trade tariffs, simplify procedures and remove protectionism: NITI Aayog CEO BVR Subrahmanyam
Speaking at Confederation of Indian Industry’s Annual Business Summit 2024, Subrahmanyam listed out the need for fundamental reforms in education and skilling, need for intervention to enhance the women labour force participation rate and plethora of policy measures in agriculture along with greater private sector investment in infrastructure and governance reforms.
India's unemployment rate dips to 6.7% in March quarter
The National Sample Survey (NSSO) revealed that the unemployment rate in urban areas for individuals aged 15 years and above decreased slightly to 6.7% in the January-March period from 6.8% a year earlier. The Periodic Labour Force Survey (PLFS) indicated that unemployment rates for both males and females experienced fluctuations over the quarters.
Urban unemployment drops slightly to 6.7% in Q4FY24; female labour force participation rises further
Urban unemployment slightly decreased to 6.7% in Q4 FY24 from 6.8% in the same period last year. However, it rose sequentially from 6.5% in the previous quarter, attributed to layoffs in sectors like IT, telecom, and startups. Female unemployment improved slightly, while male unemployment increased. Self-employment rose, but regular wage employment remained low.
Remarkable increase in women taking apprenticeship in male-dominated sectors: TeamLease executive
Employers today exhibit a gender-agnostic approach in their quest for skilled talent, demonstrating openness towards women candidates even in traditionally male-dominated fields.
Jobless rate declines to record 3.1% in 2023
India's unemployment rate dropped to 3.1% in 2023, the lowest in recent years, from 3.6% the previous year. Female labor force participation crossed 40% for the first time. Urban unemployment fell to 5.2% from 5.9%, and rural unemployment dropped to 2.4% from 2.8%. Despite this, the gender gap in unemployment widened as female unemployment declined slower than male unemployment. Female labor force participation rose to 41.3%, but their participation in certain sectors, like legislators, senior officials, and managers, decreased.
Corporate tax rate cut led to rise in pvt investments, credit growth: FM Sitharaman
Finance minister Nirmala Sitharaman stressed the positive impact of the corporate tax rate cut on private investments and credit growth. She emphasized the need for capacity expansion in high employment potential areas. India is negotiating free trade agreements and has facilitated direct benefit transfers.
India, Philippines witnessed the largest decline in gender gap in the post-pandemic period: Moody’s
Moody's Analytics reports that India and the Philippines have seen the largest reduction in the gender gap in labor force participation post-pandemic. The narrowing gap since 2019 has added $1.5 trillion to global income, with almost half coming from India and Japan. Despite progress, India's gender gap remains over four times that of the US or the EU, attributed to traditional gender roles and insufficient supportive policies for women in the workforce.
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