A recent survey by the Centre for Monitoring Indian Economy (CMIE) has indicated that urban unemployment has increased up to 12%. Reportedly, urban unemployment rate clocked 11.72% as of May 9 while, for the week ending April 25, it was 9.55%. CMIE cited state-wise lockdowns for this increase, which is highest in the past 10 months. Moreover, rural unemployment has also surged from 6.37% to 7.29% during the same period.
Courtesy: Times Now News
The German carmaker Volkswagen has announced to retrench around 5,000 employees, including 900 employees opting for early retirement, between now and the end of 2023. Citing cost-cutting to finance the electric vehicle segment, the automaker has plans to fill the vacant places later. The VW HR director Gunnar Killian said the company would continue practising strict cost management strategies for future investments. Earlier in 2019, VW had… read-more
Courtesy: Money Control
India’s number one container handling port Jawaharlal Nehru Port Trust (JNPT) is planning to invest Rs 4,000 crore in its Special Economic Zone to create around 72,600 direct jobs. Eyeing to generate around 1,50,000 total jobs, the JNPT SEZ is being built under the Shipping Ministry’s Sagarmala initiative. While the project will be wholly funded by the JNPT, the housing requirement created by SEZ development will be completed by JNPT and… read-more
Following the COVID lockdowns, the UK's unemployment rate grew up to 0.3% and has reached 4.8% in September. Reportedly, about 243,000 people lost their jobs till September and most of them were between the age group of 16-24. UK's Office of National Statistics' official Jonathan Athow said, "We're seeing a continuation of a weakening of the labour market... [and].. We might see furlough creep again."
Courtesy: BBC News
Amid 'youth' and 'employment’ stirring Bihar polls, Election Commission data shows a stark decline in young voters. While the under-30 voters dropped by 12.4%, the first-time (18-19 year) voters' count fell to 11.17 lakh from 24.13 lakh in 2015. Citing COVID-19 spread as reason, EC sources said they could not undertake awareness and enrolment campaign aggressively. However, average 74,000 young-voters in each constituency still hold the… read-more
Courtesy: The Indian Express
Going by the reports, sports-related jobs in India are witnessing a downfall of about 25%. The ongoing pandemic has led various sports events to stand cancelled. The Times of India reported that, In August, the search for jobs in the sports market has increased by 11%. Moreover, the job posting in the sector has also plunged by 25%.
Courtesy: Republic World
The opposition party Congress on September 9 claimed that the unemployment in the country has increased owing to poor management of the pandemic by the Centre. The party launched an online campaign, #SpeakUpForJobs, to raise voice against the government. Congress tweeted that lakhs of Indians were losing jobs every day and that BJP was a silent spectator. "The Nation will not stay silent, the Nation will #SpeakUpForJobs," read the tweet.
Courtesy: Hindustan Times
According to the data reported by The International Labour Organisation (ILO), the unemployment rate of youth with higher education level are higher in comparison to those with basic education level in 82% of the low-income countries and 70% of the lower-middle-income countries. Similarly, share of people with basic education qualification or lesser have been largely unemployed in 84% of the high-income… read-more
Courtesy: Economic Times
According to a report from the Centre for Monitoring Indian Economy (CMIE), five million people lost their jobs in July. The Covid-19 Pandemic has caused a major setback in the country's economy. CMIE stated that "17.7 million salaried jobs were lost in April 2020. An additional 0.1 million jobs were lost in May. Then, 3.9 million jobs were gained in June. But, 5 million jobs were lost in July".
Courtesy: Live Mint