JOB MARKET TRENDS
From India to US and now Canada: Amid H-1B visa concerns, a techie's search of stability
Amid rising H-1B visa challenges, a tech professional's story highlights the growing trend of U.S.-based workers relocating to Canada for career stability. In an Instagram reel by Piyush Monga, founder of Salary Scale, the Google business intelligence engineer shared her journey, citing visa constraints as the reason for her move. Despite earning $200,000 USD (about $270,000 CAD), she noted high living costs in Canada.
BJP alliance's state win to fuel market optimism: Ajay Bagga
Market expert Ajay Bagga analyzes the implications of the recent election results in Maharashtra, highlighting the positive impact of policy continuity and political stability on investors. He discusses the effectiveness of welfare schemes, the challenges of job creation, and the need for farm sector reforms over loan waivers.
Bengaluru leads in fresher hiring in FMCG at 41%: Survey
The FMCG sector in India is experiencing a surge in demand for fresh talent. Hiring intent for freshers is projected to rise to 32% in the second half of 2024. This growth is driven by deeper market penetration in rural and semi-urban areas. The food processing industry is expanding rapidly, creating job opportunities.
Cybersecurity roles are rising but women participating is low
Despite a growing demand for cybersecurity professionals, women remain underrepresented, holding only 20-25% of roles. Industry leaders emphasize the need for greater diversity and highlight initiatives aimed at attracting and retaining women in cybersecurity. Challenges such as pay disparity, stereotypes, and work-life balance persist, but organizations are actively working to create a more inclusive environment.
US applications for jobless benefits fall to 213,000, remaining near 7-month lows
New unemployment applications in the U.S. dipped to near seven-month lows, indicating a still-robust job market. Applications fell to a seasonally adjusted 213,000, defying predictions. However, the number of individuals already receiving unemployment aid saw an increase, reaching a three-year peak of 1.91 million.
Almost 45% with seed funding are second-time founders: report
"Despite whatever has happened as first-time founders, these people are coming back and starting a second startup. These second-time founders are still pursuing their ventures instead of going back to corporate jobs and are raising money,¡± Jungle Ventures founding partner Amit Anand said.
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Half of India¡¯s tech workforce plans at least three career pivots to stay competitive: Survey
A new study reveals that over half of Indian tech professionals anticipate needing to change careers at least three times to keep up with technological advancements. While many are content with their current employers' well-being initiatives, they seek opportunities for innovation, growth, and flexibility, prioritizing equitable workplaces and flexible work arrangements.
Economy likely to grow 6.7% in FY25 due to weaker Q2 performance: Report
India's economic growth is projected to reach 6.7% in 2024-25. This follows a weaker second quarter with slower growth indicators. A rebound is expected in the latter half of the fiscal year, driven by agriculture and government spending. Domestic demand will continue to fuel growth, reaching 6.5% in 2025-26 and 2026-27.
Dollar sitting pretty, yen bears wary of BOJ hawks
The dollar's value surged due to high U.S. Treasury yields and expectations of fewer interest rate cuts, making it more appealing to investors. However, concerns about potential intervention by Japanese authorities to support the weakening yen caused the dollar to retreat against it.
Indian sports market to reach USD 130 bn by 2030: Google-Deloitte report
India's sports industry is projected to reach USD 130 billion by 2030, driven by government support, digital engagement, and a growing fan base. This growth is expected to create 10.5 million jobs and generate USD 21 billion in tax revenue, highlighting the sector's increasing socio-economic impact.
10 Indian institutes, led by IIT Delhi, rank among world¡¯s top 250 for graduate employability
Ten Indian institutions, including IIT Delhi and IISc Bengaluru, have secured positions among the top 250 universities globally for graduate employability, as per the GEURS 2025. The ranking highlights the growing recognition of Indian institutions, particularly in technological fields, by international employers. However, experts emphasize the need for broader improvements in India's higher education system to address employability challenges.
2024 festive season sees highest gig workers demand driven by logistics, retail sectors: Report
India witnessed a surge in gig employment opportunities during the 2024 festive season, with over 1.2 million roles posted. This growth, a 23% increase from the previous year, was fueled by e-commerce expansion and a shift towards flexible work arrangements. Tier II cities are emerging as new gig hubs, while higher pay is attracting skilled professionals.
Bitten by travel bug, Indians loosen their purse strings
Outbound travel from India is experiencing a surge, fueled by increased air connectivity, greater purchasing power, and a shift in traveler priorities. Industry experts highlight a move towards experiential travel, with destinations like Azerbaijan and Vietnam gaining popularity. The growth is expected to continue, driven by a young, tech-savvy population and a thriving economy.
This Country, currently at odds with India, ranked as top destination for job seekers
According to a report by Jobseeker, Canada was the most popular relocation destination among job seekers. The country remained especially favoured by those looking to move from India, as well as other nations such as Germany, Japan, Mexico, Costa Rica, South Africa, Saudi Arabia, and the UAE.
Nissan shares slump after unveiling plan to cut jobs, production
Nissan Motor's shares plummeted by 10% after the company announced plans to slash 9,000 jobs and 20% of its global production capacity. This decision comes amidst declining sales in China and the United States. The automaker also reduced its annual outlook by 70% and withdrew its net profit forecast, citing restructuring efforts to combat the downturn.
Gold extends gains on Fed rate cut, but heads for weekly fall
Gold prices edged up slightly on Friday, extending gains following the Federal Reserve's widely expected interest rate cut. The Fed's decision was influenced by a cooling labor market and steady economic growth. Despite the recent uptick, gold prices were still down nearly 1% for the week.
India's focus should shift to job quality amid AI disruption, says CEA Anantha Nageswaran
India's job market is showing growth, but the focus should be on job quality as AI reshapes the landscape. Evidence suggests job creation is not a concern, but the nature of these jobs is crucial. While concerns exist about unemployment figures, rural areas are seeing a shift towards self-employment and income generation.
Dollar on back foot as Trump trades unwind; Aussie wary before RBA
The US dollar is weakening as traders adjust their positions ahead of the US presidential election. Polls suggest a close race, impacting market expectations. The Australian dollar remains near a three-month low, with the Reserve Bank of Australia expected to maintain its current policy. Investors await the outcome of the election and its potential impact on global markets.
Myth Debunking 101: Long tenure means more job security
Job security now depends more on adaptability and continuous learning than staying long in one company. Industries like healthcare, technology, and education offer stable roles. Employees can increase job security by upskilling, networking, and delivering strong performance. Employers should invest in creating career pathways and recognizing employee contributions.
Long-term investors should focus on structural trends over short-term volatility: Ravi Dharamshi
?So, from the peak to correct around 15% kinds is I would say, but beyond that I would say then they start looking attractive again from a three to five years perspective because none of the problems are really balance sheet oriented problems, they are all more P&L related problems and more valuation issues.
By 2030, skill requirements will change by as much as 64%: Teuila Hanson, Chief People Officer, LinkedIn
Skill requirements for jobs in India have evolved significantly since 2016, with AI driving faster changes. By 2030, these changes are expected to increase further. Indian professionals are adopting a growth mindset, spending more time on learning than the global average. Companies are prioritizing people skills and AI literacy in candidates.
6 career paths to pursue after an MBA degree
An MBA is a vital degree for management careers, enhancing job prospects globally. Graduates can pursue roles like Management Consultant, Investment Banker, HR Manager, Operations Manager, Marketing Manager, and Product Manager, each with competitive starting salaries. The program fosters skills in analysis, strategy, and leadership across various business functions.
Job market clocks 6% growth in Sep, buoyed by recovery in IT hiring: Report
White-collar hiring activity grew by 6% in September YoY, driven primarily by a resurgent IT sector with an 18% increase. Noteworthy growth was seen in non-traditional IT hubs like Jaipur and Kolkata. Sectors such as FMCG and oil and gas also saw strong hiring increases, particularly in Mumbai and Ahmedabad, respectively.
When one job is not enough: The pathway to multiple careers
People are living longer and choosing to work for extended periods. Many professionals, especially younger ones, are exploring diverse career paths and acquiring new skills. This trend includes engaging in side jobs or freelance work. The Indian job market shows a growing preference for such dynamic career approaches and continuous learning.
As job market slows and inflation stays sticky, stock markets could correct by 10%, says Stifel stock chief
The US job market is slowing down yet again from its stability period yet again, and this could prove to be detrimental in the overall employment scenario. Meanwhile, there are viable chances that the US stock markets would undergo a correction by a whopping 10%. Here's how the economy could be affected this time.
Fed's Bostic: it is 'time to move' on rate cuts, but wants to be sure
With inflation lowering and unemployment rising more than anticipated, Federal Reserve Bank of Atlanta President Raphael Bostic indicated it might be time for rate cuts. However, he emphasized the need for confirmation from upcoming jobs and inflation reports due before their September meeting to avoid the need to reverse decisions.
Former TCS employee's salary (Rs 21,000) vs expense (Rs 30,000) post sparks big debate
A viral social media post by Shashank Rustagi has highlighted stagnant entry-level salaries at Tata Consultancy Services (TCS), which he claims have remained at Rs 21,000 per month since 2019 despite rising living costs. This revelation has sparked widespread debate among tech professionals, with many sharing similar experiences of stagnant salaries across various IT firms. Critics argue that these salary practices reflect corporate exploitation, while others view it as a result of market dynamics.
Job Market Outlook: AI integration set to boost employment in financial and real estate sectors
Manpower Group's latest Net Employment Outlook for June to September 2024 showcases positive trends in India's employment sector, ranking sixth globally. Despite some decline, the Financial Services and Real Estate sectors are driving growth, with AI integration expected to further boost employment opportunities. Various sectors and regions display differing hiring intents, reflecting cautious optimism amidst ongoing global challenges.
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.
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