Moneycontrol

Budget 2023Budget 2023
you are here: HomeNewsJobs

Jobs, an informal reference to the employment or occupation of individuals, is a key metric to assess the health of an economy. The demand for jobs cuts across both rural and urban regions. In the latter, the jobs that are in demand are a mix of white and blue-collar jobs, whereas, the countryside offers jobs that are mostly related to farm labour. The demand for jobs also reflects the prevalent rate of unemployment in a country. A high unemployment rate reflects an increased demand for jobs. According to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate dropped to 6.57 percent in January 2022. This was the lowest since March 2021. The highest unemployment rate was recorded in Haryana, at 23.4 percent, as per the CMIE data for January, followed by 18.9 percent in Rajasthan. The lowest for the month was recorded in Telangana, at 0.7 percent. The lack of jobs, however, is not entirely encapsulated by the prevalent unemployment rate. The issue of underemployment also exists in an array of economies, where the highly educated individuals fail to secure jobs as per their calibre. By lack of jobs, the youth also refer to the lack of employment opportunities as per their calibre or in accordance to their wage expectations. More

Jump to
  • TN Hari on tech layoffs: Companies must be generous with severance Jan 27, 2023 11:39 AM IST

    TN Hari on tech layoffs: Companies must be generous with severance

    Tech companies hiring aggressively only to find themselves bloated and facing skills mismatches isn’t anything new. But go about layoffs compassionately

  • SAP to cut 3,000 jobs, explore Qualtrics stake sale Jan 26, 2023 12:32 PM IST

    SAP to cut 3,000 jobs, explore Qualtrics stake sale

    With the planned job cuts, SAP joins other big tech companies including Microsoft and Amazon in turning to layoffs to cut costs.

  • Big Tech is firing employees by the thousands. Why? And how worried should we be? Jan 26, 2023 10:22 AM IST

    Big Tech is firing employees by the thousands. Why? And how worried should we be?

    In the last year, more than 70,000 people globally have been laid off by Big Tech companies and that doesn't count the downstream effect of contractors (and other organisations) losing business as budgets tighten.

  • IBM cuts 3,900 workforce after missing annual cash target Jan 26, 2023 06:12 AM IST

    IBM cuts 3,900 workforce after missing annual cash target

    The layoffs which are related to the spinoff of its Kyndryl business and a part of AI unit Watson Health, will cause a $300 million charge in the January-March period, IBM said.

  • Check how many Indians are concerned about threat of job layoff in a survey Jan 25, 2023 02:30 PM IST

    Check how many Indians are concerned about threat of job layoff in a survey

    In its second edition of India Union Budget survey, Kantar found that consumers expect an announcement in policy changes with respect to income tax, with increasing basic income tax exemption limit from current Rs 2.5 lakh being the most common expectation.

  • 5 most in-demand skills in India, according to LinkedIn Jan 23, 2023 12:25 PM IST

    5 most in-demand skills in India, according to LinkedIn

    A look at some of the fastest growing job in India, from healthcare to talent acquisition.

  • Spotify seen cutting staff as soon as this week to cut costs Jan 23, 2023 09:00 AM IST

    Spotify seen cutting staff as soon as this week to cut costs

    The number of positions to be eliminated wasn’t specified by the people. Spotify laid off 38 staff from its Gimlet Media and Parcast podcast studios in October. The music streaming giant has about 9,800 employees, according to its third-quarter earnings report.

  • Wipro lays off 452 freshers for ‘poor performance’ in internal assessment Jan 20, 2023 11:46 PM IST

    Wipro lays off 452 freshers for ‘poor performance’ in internal assessment

    In the termination letter that was sent by Wipro to the affected employees, the company said the freshers were supposed to cough up the Rs 75,000 that the company spent on their training programme, but the amount has been waived off.

  • At Rozgar Mela, PM Modi tells appointees to aim for more than government jobs Jan 20, 2023 01:20 PM IST

    At Rozgar Mela, PM Modi tells appointees to aim for more than government jobs

    Under the Rozgar Melas, launched in October 2022, 10 lakh people will be given government jobs

  • 30 lakh posts vacant in govt departments, 71,000 job letters distributed today too little: Congress to PM Modi Jan 20, 2023 11:37 AM IST

    30 lakh posts vacant in govt departments, 71,000 job letters distributed today too little: Congress to PM Modi

    Reminding the prime minister of his promise of giving two crore jobs every year, Congress president Mallikarjun Kharge said 30 lakh posts in government departments are still lying vacant.

  • Wayfair prepares to cut more than 1,000 jobs Jan 20, 2023 07:07 AM IST

    Wayfair prepares to cut more than 1,000 jobs

    Wayfair joins a growing list of U.S. companies - ranging from tech giants and Wall Street banks to food delivery firms - which are shedding their workforce amid worries of an economic downturn.

  • Ex-Microsoft leader worked at Amazon warehouse: ‘Moved 6 tons of packages’ Jan 19, 2023 03:31 PM IST

    Ex-Microsoft leader worked at Amazon warehouse: ‘Moved 6 tons of packages’

    Philip Su also has years of experience working with Facebook and Microsoft. Why did he take up a warehouse job?

  • Netflix wants a flight attendant for its private jet. The salary is… Jan 19, 2023 10:22 AM IST

    Netflix wants a flight attendant for its private jet. The salary is…

    The streaming giant is looking for a Primary Flight Attendant based in California. Here are the conditions.

  • Big Tech braces for dismal profits, more job cuts Jan 19, 2023 06:22 AM IST

    Big Tech braces for dismal profits, more job cuts

    Each of America's five largest tech companies, though, are expected to report a fall in profits for the October-December period, as they try to recalibrate in a high-interest environment.

  • Post layoff announcement, Microsoft boss assures firm will continue to hire in key strategic areas: Read full text Jan 18, 2023 10:05 PM IST

    Post layoff announcement, Microsoft boss assures firm will continue to hire in key strategic areas: Read full text

    In a note to employees, Chief Executive Satya Nadella said the layoffs, affecting less than 5% of the workforce, would conclude by the end of March, with notifications beginning from today.

  • Budget 2023: PLI-like scheme to fix India's job woes? What CII president Sanjiv Bajaj thinks Jan 18, 2023 04:20 PM IST

    Budget 2023: PLI-like scheme to fix India's job woes? What CII president Sanjiv Bajaj thinks

    Union Budget can focus on sops for sectors like tourism and logistics which have major employment generation potential especially in the wake of challenges they faced during pandemic.

  • Here's what ILO expect on global jobs growth in 2023 Jan 16, 2023 02:16 PM IST

    Here's what ILO expect on global jobs growth in 2023

    At the same time, the number of unemployed people in the world is expected to rise by 3 million to 208 million in 2023, while inflation will eat into real wages, the ILO said in a report on global trends.

  • Maharashtra: MPSC aspirants oppose introduction of new exam pattern from this year Jan 14, 2023 09:46 AM IST

    Maharashtra: MPSC aspirants oppose introduction of new exam pattern from this year

    Asked about the protests, Maharashtra Deputy Chief Minister Devendra Fadnavis said the new pattern was recommended by the Dalvi Committee formed by the previous government.

  • Crypto.com to cut 20% jobs as industry rout deepens after FTX collapse Jan 13, 2023 12:18 PM IST

    Crypto.com to cut 20% jobs as industry rout deepens after FTX collapse

    The Singapore-based company's announcement comes amid concerns about reserves and solvency across the sector, and only a few days after rival exchanges Coinbase Global Inc and Huobi announced their plans to lay off about 20% of their staff.

  • IT services sector experiences flat job growth in December: report Jan 10, 2023 12:25 PM IST

    IT services sector experiences flat job growth in December: report

    The number of active jobs has decreased by 41 percent year on year. According to Xpheno data, the sector's contribution was less than 30 percent for 21 months.

  • CEO says no one quit his company in the last 5 years. Here’s why Jan 09, 2023 04:14 PM IST

    CEO says no one quit his company in the last 5 years. Here’s why

    A leader offers insights into his management style that helped his team buck the great resignation trend.

  • Goldman Sachs to cut about 3,200 jobs this week after cost review Jan 09, 2023 06:15 AM IST

    Goldman Sachs to cut about 3,200 jobs this week after cost review

    The firm is expected to start the process mid-week and the total number of people affected will not exceed 3,200, according to a person with knowledge of the matter. More than a third of those will likely be from within its core trading and banking units, indicating the broad nature of the cuts.

  • U.S. Added 223,000 Jobs in December, a Slight Easing in Pace Jan 07, 2023 09:12 AM IST

    U.S. Added 223,000 Jobs in December, a Slight Easing in Pace

    The Federal Reserve’s moves to cool the economy with higher interest rates seem to be taking gentle hold. Wage growth lost momentum.

  • National conference of chief secretaries begins, to deliberate on economy, jobs ahead of Budget Jan 05, 2023 09:51 PM IST

    National conference of chief secretaries begins, to deliberate on economy, jobs ahead of Budget

    The conference is broadly based on two themes -- economy and jobs and inclusive human development.

  • Tech firms lead companies with most December job cuts: Report Jan 05, 2023 06:17 PM IST

    Tech firms lead companies with most December job cuts: Report

    According to the latest job cuts report from employment firm Challenger, Gray & Christmas, Inc, released on Thursday, U.S.-based employers said they were cutting 43,651 jobs in the final month of 2022, down 43% from the number of cuts announced in November.