LABOUR PARTICIPATION RATE
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.
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.
CII wants Modi 3.0 govt to push land, labour, agri reforms to boost growth
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII President Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket".
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.
Services activity growth eases to 5-month low in May
India's services sector output growth moderated in May, reaching its lowest level in five months, according to the HSBC India Services Business Activity Index. The index slipped to 60.2 from 60.8 in April, indicating a softening in services activities due to factors like severe heat waves and price pressures. While domestic new orders eased slightly, they remained robust, supported by strong demand conditions and successful advertising. Export demand also provided support, with new orders rising at the fastest pace in nearly a decade.
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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
Access to benefits key in retaining women contract workers: Study
A study by Quess Corp and The Udaiti Foundation reveals that both single and married women who receive performance incentives are more likely to retain their jobs than those who don't. The findings, which analysed data from 1.6 million Quess employees over four years, highlight the high turnover in the staffing industry and India's low female labour participation rate. The study found that nearly one out of every two associates who quit do so within the first three months of employment, underlining the importance of support in that period to stem attrition.
View: Your first 100 days to-do list, Gov
The upcoming government will have its work cut out for it as it steps into power following the conclusion of the 18th Lok Sabha polls. While the current administration has made strides in improving the business environment in India, there are key reforms that the new government must prioritize to fully capitalize on the country's growth potential.
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:
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.
Dollar slips as market awaits key inflation data
The dollar slid versus most major currencies on Monday amid expectations key U.S. data this week will show a slowing pace of inflation and consumer spending at a time of recovering European economies that also could be bolstered by interest rate cuts.
Dollar nurses losses after another set of soft jobs data
The dollar's retreat followed data showing a jump in initial claims for U.S. state unemployment benefits which, coming on top of last week's weak payrolls report, furthered risk-taking in a market that has been vacillating for weeks on when and how much the Federal Reserve will cut rates this year.
Narendra Modi sets ambitious economic goals for probable third term
Indian Prime Minister Narendra Modi has set an ambitious target of doubling the economy and exports this decade, with the aim of making the economy the third largest in the world if he wins a third term in a row. He has asked officials to finalise plans by around May to expand the economy to $6.69 trillion in nominal terms by 2030, from around $3.51 trillion currently. The document states that doubling the economy by the end of the decade would be a "very difficult feat" requiring 6%-6.5% growth for the next seven years along with inflation of 4.5%.
ET Graphics: Women's employment in India shows improvement, but reaching top a challenge
India registered significant improvements in employment parameters for women last year, according to official data. However, getting to the top remained an uphill task.
Post Covid, India one of the main drivers of narrowing gender gap in labour force participation: Moody's
Olia Kuranova of Moody's discusses the impact of narrowing the gender labour force participation gap, estimating $1.5 trillion added to the global economy. India has made impressive progress, but traditional gender roles and lack of supportive policies contribute to a significant gender gap. Change in global attitudes towards remote work and hybrid arrangements has created opportunities for women in particular.
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.
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.
Increased female participation in workforce implies prosperity, not distress
Had distress been driving poor people to work, FWPR would have risen fastest for the poorest deciles of the rural population. In fact, rise has been slowest for the poorest decile, from 16.5% to just 19%. It has risen fastest for the top two deciles, from 19.4% and 19.9% to 32.6% and 33.5%, respectively. This is encouraging.
Unemployment rate declines to 6.5% in Q3FY24; female labour force participation rises to 25%: MoSPI
The unemployment rate in urban areas was lower than the previous month's level of 6.6%. However, the decline in unemployment was driven by the male unemployment rate, as female unemployment levels were steady from the previous quarter.
Labour Ministry issues advisory to employers to promote women workforce participation
In an advisory, issued on Wednesday, the labour ministry has suggested employers to take proactive initiatives to encourage women to participate in the workforce predominantly while ensuring a balance between employment and care responsibilities, adequate representation of women in management positions, supporting women entrepreneurs and eliminating gender bias in recruitment, promotion and performance review.
India deserves 'double engine' growth where more women participate in economic activities: Kumar Mangalam Birla
India is at the cusp of rapid growth and this is the country's moment in history, he said, exuding confidence that the country will be a superpower. Over the next decade, nearly a fourth of the incremental contribution to the global workforce will be from India, Birla said, adding that by 2040, the country will have a billion people in the workforce.
Female labour force participation rises to 24%; unemployment declines below 9%: Survey
While female unemployment has declined, the quality of jobs has not improved. An ET analysis shows that the share of women in regular-wage jobs reduced further in July-September period. The share of women in regular-wage work declined at a faster pace than the one witnessed in the last year to 52.8% from 54% in the previous quarter.
Formal female workforce more than doubles under EPFO in 5 years
Net new female members added under the retirement fund body more than doubled to 2.8 million in FY23 from 1.30 million in FY19, as per EPFO payroll data. This is primarily because companies have become more inclusive and are now moving towards greater gender parity while the government has brought in several incentives to attract more women to the workforce.
Congress cites RBI data to question govt's economy management
Congress leader Jairam Ramesh said RBI's October bulletin, compared to the previous one, showed the continuing or worsening of a range of negative indicators, including a 47-year low in the savings growth rate, a stagnation of domestic credit to the private sector, and a flat labour-force participation rate.
Unemployment rate declines, female labour force participation rises in Q1FY24: MoSPI
The Indian economy saw strong growth in the first quarter, leading to improved employment numbers. The unemployment rate in urban areas decreased to 6.6% in the April-June quarter, compared to 6.8% in the previous quarter. Female labor force participation also increased to 23.2% in urban areas.
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