Job Market Monitor
India
The Skills Gap in India
Of the five million graduates, only 34% are readily employable. Most lack necessary skills required for any role in any industry, according to an assessment tests done by Wheebox-People Strong in association with CII. Census data released in September 2013 indicated that 63.4% of India’s total population falls in the working age group. According to … Continue reading
India – Only 27% candidates enrolled in skill dev programmes got jobs
Only 27 per cent of the candidates enrolled in five national skill development programmes managed to secure jobs, says a World Bank study. “As per interim findings of the report, 27 per cent of candidates enrolled in the above skill development programmes found employment. “Some of the reasons for non-employment include resistance to migration, pursuit … Continue reading
India – Has to raise workforce participation to 80% says PwC
To avoid squandering its demographic dividend, India must make substantial reforms in its education sector and the country needs to raise workforce participation from 58 per cent to 80 per cent to be at par with China, says a report. According to global consultancy firm PwC, the nation’s education system has benefited the upper class, … Continue reading
Minimum Monthly Wages in India – Could go up to Rs 15,000
The Centre plans to fix minimum national monthly wages at around Rs 15,000 for all jobs in both the formal and informal sectors in the country. * The National Minimum Wages Act, 1948, lays down minimum wages for 45 listed economic activities, which also serve as minimum wages for these activities in the states. However, … Continue reading
India – TCS to hire 55,000
IT giant TCS is believed to be undertaking a significant performance-related restructuring of its workforce, which may also lead to some employees being asked to leave the company. Sources said that the restructuring exercise could affect both onsite and offsite positions across various verticals, even as the company said it is on track to meet … Continue reading
India – 46 percent are fully engaged finds survey
According to the Dale Carnegie India Employee Engagement Report 2014 released today, Indian employees are significantly more engaged than their global counterparts with 46 percent employees fully engaged compared to the global average of 34 percent. Large companies in India with more than 100,000 employees tend to have the lowest amount of disgruntled employees at … Continue reading
Women In India – Education has not translated to equivalent gains in employment
Female enrolment in colleges leapt from 10 per cent of total admissions at the time of independence to 41 per cent in 2010. However, this has not translated to equivalent gains in women’s employment. Indeed, in the past few decades, the percentage of urban and educated working women has been stagnant or even fallen. Overall, … Continue reading
India to China – Set up manufacturing units
India today asked China to invest in setting up manufacturing units in the country to bridge the widening trade deficit and create jobs in the country. Commerce and Industry Minister Nirmala Sitharaman said India has signed an agreement with China in June to set up Chinese Industrial Parks in India. “We are expecting Chinese to … Continue reading
Youth Job Guarantee in India – Improving over time
While politicians in the advanced economies think it is a clever strategy to deliberately create poverty via unemployment, there are now several countries which have implemented direct job creation schemes to counter the major problems associated with persistent unemployment. For example, the Argentinean government introduced the Jefes de Hogar (Head of Households) program in 2001 … Continue reading
India – Proposition of a textile policy to create 35 million more jobs
An expert panel constituted by the government on Monday submitted the draft of the new National Textiles Policy, which aims to achieve $300 billion exports by 2024-25, and creation of additional 35 million jobs by attracting investments. The blueprint termed as the draft ‘Vision, Strategy and Action Plan’ to revitalize the textiles and apparel industry … Continue reading
India – Industrial jobs needed says economist Pranab Bardhan
Eminent economist Pranab Bardhan today said the country requires a massive labour-intensive industrialisation to create more opportunities. “I am in favour of labour law reforms. The new government has already taken steps to change it but I think the country needs massive labour-intensive industrialisation,” Bardhan, professor Emeritus of Economics at the University of California, Berkeley … Continue reading
Foxconn in India – Layoffs announced
Foxconn India announced to its employees that it is “considering layoffs/retrenchment”, just two days after the company offered a voluntary retirement scheme VRS that would be valid till June 20. ET had written about the companys VRS plans on June 3, 2014, and this is the first time Foxconn is making it official. The company … Continue reading
India – Exports need to jump to create jobs report says
Domestic value added DVA content and the employment intensity of India’s exports has been declining over time. To overcome this, a dramatic increase in the absolute size of exports was essential to match or exceed the spill-over effect of exports as seen in the past, suggested Crisil in a report published ahead of new export … Continue reading
Poverty in India – 56 percent of Indians (680 million) lack the means to meet their basic needs finds McKinsey
A new benchmark called the Empowerment Line, developed by the McKinsey Global Institute, aims to create a new and more holistic policy framework for poverty reduction. It calculates the cost for an Indian household to attain the basics and then compares these benchmarks to actual consumption data to measure needs that are going unmet. The … Continue reading
India – Labour-intensive jobs need to grow
Growth for employment creation needs to be given priority over everything else. The number of voters has gone up by a hundred million between 2009 and 2014. In other words, something like 20 million people are entering the job market each year. Add to that the need to move employment from the agricultural to the … Continue reading
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