LABOUR FORCE EVERY YEAR
RBI job data matches with govt's: SBI Report
The latest SBI Research Ecowrap report highlights that the Reserve Bank of India's KLEMS data and the Annual Survey of Unincorporated Sector Enterprises (ASUSE) employment numbers from the government closely align. According to the report, the RBI's KLEMS data estimates India's total labour force at 597 million, whereas the ASUSE survey by MoSPI puts it at 568 million, indicating a negligible difference.
Retail inflation for industrial workers eases to 3.86 pc in May
In May 2024, retail inflation for industrial workers in India eased to 3.86%, down from 4.42% a year earlier. The Consumer Price Index-Industrial Workers (CPI-IW) rose by 0.5 points to 139.9 points, compared to 139.4 points in April 2024. The food and beverages group increased to 145.2 points from 143.4 points in April, while the fuel & light segment decreased to 149.5 points from 152.8 points. The Labour Bureau compiles these indices based on retail prices collected across 317 markets in 88 industrially significant centers nationwide.
US cyber crimes: Overseas scammers are swiping billions from Americans every year, and getting away with it
Scammers are stealing billions from Americans yearly, exploiting technology and targeting older adults. Sophisticated fraud schemes overwhelm law enforcement and rarely lead to prosecution. With elder fraud complaints rising, experts call for coordinated efforts from private industries and the government to combat this escalating crime wave effectively.
Little hands at the liquor still: How children were reportedly made to work making and bottling liquor in a factory in MP
A major child labor racket exposed at a liquor distillery in Madhya Pradesh, where over 100 children aged 12-17 were rescued by authorities. The children were allegedly working up to 12 hours a day, handling hazardous chemicals. The company, Som Distilleries, faces accusations of violating child labor laws. Calls for compensation and justice for the victims. Authorities investigating allegations of complicity by officials. Shocking details emerge of burnt, infected hands and underage girls made to wear makeup. Company denies allegations.
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.
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.
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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).
Karnataka releases draft gig workers Bill; seeks comments from platforms, other stakeholders
Karnataka introduced draft Bill for app-based platforms to provide social security benefits to gig workers and sought public feedback. The Bill proposes fee on transactions and penalties for non-compliance. It aims to protect workers' rights and ensure basic social security. It is inspired by Rajasthan law and includes grievance redressal mechanism and prevention of illegal termination. the Bill promises welfare board, fund for gig workers. Discussions have been held with major platforms and International Labour Organisation for input.
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.
In 10 years, India no longer a charity case, it's the driving force of world economy: Sanjeev Sanyal
There are no such things as poor people. They are poor places. Say two brothers grew up in Moradabad. One of them stays back in Moradabad and another went off to Dubai. After five years, one person will be earning a lot more than the other. Why does this happen? It is because places matter, says Sanjeev Sanyal
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.
Armed forces ready to face every challenge: Rajnath Singh after taking charge of defence ministry for second term
Defence Minister Rajnath Singh outlined the new government's focus on bolstering national security by modernizing the armed forces and enhancing domestic defence production. He aims to increase defence exports to Rs 50,000 crore by 2028-29. Singh praised the armed forces for their readiness and commitment amid challenges, including the border row with China. The government will also focus on boosting India's defence production and welfare of soldiers. Singh conducted a meeting on the ministry's first 100 days' Action Plan, emphasizing self-reliance in defence and welfare of veterans.
Karnataka extends exemption for startups, tech firms from labour regulations for five years
The State Government has extended the exemption for IT/ITES companies from the Industrial Employment (Standing Orders) Act for five more years, benefiting about 18 lakh employees in 8785 IT/BT companies. The exemption aims to address concerns of arbitrary termination, harassment, and promote growth in the technology sector.
Retail inflation for industrial workers eases to 3.87pc in April
Retail inflation for industrial workers decreased to 3.87% in April from 4.2% in March. Ministry of Labour and Employment released the Consumer Price Index-Industrial Workers (CPI-IW) for February, March, and April 2024. The Labour Bureau compiled the Consumer Price Index for Industrial Workers every month. The All-India CPI-IW for April 2024 increased by 0.5 point.
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.
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
UK Tories pledge to bring back national service for 18-year-olds
The Conservatives, in power since 2010, estimate the scheme will cost around £2.5 billion ($3.2 billion) a year, with the first teenagers taking part in September 2025. Despite Sunak saying it would be mandatory, his interior minister James Cleverly told Sky News on Sunday that there would be no criminal sanctions for any young person who refuses to take part.
Sometimes U.S. and U.K. politics seem in lockstep. Not this year.
British Prime Minister Rishi Sunak has called an early general election for the UK, announcing that he does not expect Britain's economic news to improve between now and the fall. The election is expected to be held on July 4, as the US political calendar has not played a significant role in the outcome.
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.
'Time to choose': Rishi Sunak calls UK national election for July 4
British Prime Minister Rishi Sunak has called for a national election on July 4, challenging voters to decide between the progress made under his Conservative Party or risking a return to uncertainty with the Labour Party. Despite trailing in polls, Sunak highlighted economic stability and accused Labour leader Keir Starmer of lacking a plan. Starmer emphasized "change" as he aims to rebuild Britain. Sunak's decision to call the election earlier than expected is seen as a risky move, with the outcome uncertain amid economic challenges and political divisions.
Indian seafarers remain most abandoned at sea for another year
For two consecutive years, Indian seafarers have faced the highest rates of abandonment, with 411 individuals already left stranded on ships within the initial six months of the current year. According to a report from TOI, a total of 116 vessels and 1,672 seafarers have been abandoned so far in this year.
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.
22.8 million work suffer occupational injuries, 18,970 die every year globally due to excessive heat wave: ILO
According to a global report, released by the International Labour Organisation on Monday, epidemics of chronic kidney disease of unknown aetiology (CKDu) are affecting large numbers of workers conducting heavy manual labour in hot temperatures and rural regions of the Americas, Africa, the Middle East and India, resulting in abnormally high number of deaths among agricultural workers due to irreversible kidney failure.
Alarm bells ringing in economy, households slowly sinking into debt: Congress slams govt
The report states that this "dramatic" fall in savings is due to weak income growth, which explains why both private consumption and household investment growth have remained markedly subdued in 2023-24, Jairam Ramesh said.
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