Unemployment – Artifex.News https://artifex.news Stay Connected. Stay Informed. Wed, 29 May 2024 12:42:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.6 https://artifex.news/wp-content/uploads/2023/08/cropped-Artifex-Round-32x32.png Unemployment – Artifex.News https://artifex.news 32 32 World unemployment to fall slightly in 2024: UN https://artifex.news/article68228539-ece/ Wed, 29 May 2024 12:42:32 +0000 https://artifex.news/article68228539-ece/ Read More “World unemployment to fall slightly in 2024: UN” »

]]>

The report found that 183 million people meet the definition of unemployed. File.
| Photo Credit: Thulasi Kakkat

Global unemployment is set to fall slightly this year, a United Nations agency said on May 29 , reversing its previous prediction of a rise while warning of “slow progress” on tackling inequalities.

The International Labour Organization (ILO) expects a global unemployment rate of 4.9% in 2024, after originally forecasting unemployment would rise to 5.2% this year from five percent in 2023.

In a report, the Geneva-based UN agency forecasts that the rate will stay at 4.9% in 2025.

Also read: Data | How much employment generation does the economy need?

However, the ILO cautioned that “inequalities in labour markets persist, with women in low-income countries particularly affected.”

The report found that 183 million people meet the definition of unemployed, meaning they are actively looking for work and are immediately available. But the number of people without a job who wanted to work stood at 402 million.

The agency also said women were more likely to be unwillingly out of work and disproportionately affected by a lack of opportunities.

Women in low-income countries were especially hard-hit, with 22.8% who wanted a job not in work, compared with 15.3 percent for men.

For high-income countries, the rate stood at 9.7% for women and 7.3% for men.

The report also warned that these differences were just the “tip of the iceberg” as women were much more likely than men to have left the labour force altogether.

Worldwide, the report estimated that 45.6% of women of working age were employed in 2024. For men, the figure was 69.2%.

“Despite our efforts to reduce global inequalities, the labour market remains an uneven playing field,” ILO Director-General Gilbert Houngbo is quoted as saying in a press release.

“To achieve a sustainable recovery whose benefits are shared by all… we must place inclusion and social justice at the core of our policies and institutions,” Houngbo said.

The ILO is the oldest specialised UN agency and brings together employers, unions and governments from around the world.



Source link

]]>
Unemployment Rate Declines To 6.7 Percent In India’s Urban Areas: Survey https://artifex.news/unemployment-rate-declines-to-6-7-percent-in-indias-urban-areas-survey-5672422rand29/ Wed, 15 May 2024 19:29:32 +0000 https://artifex.news/unemployment-rate-declines-to-6-7-percent-in-indias-urban-areas-survey-5672422rand29/ Read More “Unemployment Rate Declines To 6.7 Percent In India’s Urban Areas: Survey” »

]]>

Unemployment rate is defined as percentage of unemployed people in labour force. (Representational)

New Delhi:

The unemployment rate for people aged 15 years and above in urban areas declined to 6.7 per cent in the January-March period from 6.8 per cent a year ago, according to the National Sample Survey (NSSO).

Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force.

The unemployment rate in the March quarter of FY23 was 6.8 per cent, while it was 6.6 per cent in April-June as well as in the third quarter (July-September 2023) of the previous fiscal. It was 6.5 per cent in October-December 2023.

The unemployment rate for people aged 15 years and above in January-March 2024 was 6.7 per cent in urban areas, the 22nd Periodic Labour Force Survey (PLFS) showed.

It also showed that the unemployment rate among females (aged 15 years and above) in urban areas declined to 8.5 per cent in January-March 2024 from 9.2 per cent in the same quarter a year ago.

It was 9.1 per cent in April-June 2023, 8.6 per cent in July-September 2023, and 8.6 per cent in October-December 2023.

Among males, the unemployment rate in urban areas rose to 6.1 per cent in January-March 2024 compared to 6 per cent in the year-ago period. It was 5.9 per cent in April-June 2023, 6 per cent in July-September 2023, and 5.8 per cent in October-December 2023.

Labour force participation rate in Current Weekly Status (CWS) in urban areas for people aged 15 years and above increased to 50.2 per cent in the January-March 2024, from 48.5 per cent in the same period a year ago.

It was 48.8 per cent in April-June 2023, 49.3 per cent in July-September 2023 and 49.2 per cent in October-December 2023.

Labour force refers to the part of the population, which supplies or offers to supply labour for pursuing economic activities for the production of goods and services and, therefore, includes both employed and unemployed persons.

The NSSO launched PLFS in April 2017.

On the basis of PLFS, a quarterly bulletin is brought out giving estimates of labour force indicators namely unemployment rate, worker population ratio (WPR), labour force participation rate (LFPR), distribution of workers by broad status in employment and industry of work in CWS.

The estimates of unemployed persons in CWS give an average picture of unemployment in a short span of seven days during the survey period.

In the CWS approach, a person is considered unemployed if he/she did not work even for one hour on any day during the week but sought or was available for work at least for one hour on any day during the period.

Labour force, according to CWS, is the number of persons either employed or unemployed on average in a week preceding the date of the survey. LFPR is defined as the percentage of the population in the labour force.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



Source link

]]>
CSDS-Lokniti pre-poll survey | In search of a dignified economic life https://artifex.news/article68050279-ece/ Thu, 11 Apr 2024 00:15:00 +0000 https://artifex.news/article68050279-ece/ Read More “CSDS-Lokniti pre-poll survey | In search of a dignified economic life” »

]]>

People find it hard to get economically sustainable occupations in big cities, small towns, and even in rural areas. Image for representation. File
| Photo Credit: AFP

Price rise and unemployment have emerged as serious concerns for a significant majority of Indians. There is a consensus that employment opportunities at all levels have gone down in the last five years. At the same time, the prices of essential commodities continue to increase. The interlinkages between these two issues have affected the ability of a household to maintain its standard of living in the ever-changing economic life of the country. Our Pre-poll survey findings, broadly speaking, underlines four crucial factors in this regard. These factors will have an important role to play in this election, and they will have an impact on the future trajectories of Indian democracy.

First, the employment situation in the country is very critical. Over 60 percent of our respondents assert that getting a job has become much more difficult now (Table 1). The magnitude of unemployment is so alarming that the conventional rural-urban divide has become almost irrelevant.


Also Read: Lokniti CSDS 2024 Lok Sabha elections: a package

Survey data shows that the unemployment crisis is not restricted to any particular spatial location. People find it hard to get economically sustainable occupations in big cities, small towns, and even in rural areas (Table 2). This trend has also affected the gender dimension of employment. It is found that work opportunities have reduced considerably for women. It simply means that the question of economic sustainability is going to emerge as a key political question in future electoral discourse.

Second, price rise has disturbed the everyday economic equilibrium of individual households. The survey findings show that 71 percent of respondents claim that prices have increased considerably in the last five years (Table 3). Although the price rise as a monetary concern has affected all economic classes, the poor, low-income groups, and marginalised rural communities are the worst sufferers in this regard (Table 4). This economic marginalisation of a vast majority of Indians underlines the fact that economic disparity is increasing with an alarming pace.

Third, the growing economic crisis has an interesting social dimension. Table 5 shows that all social groups claim that unemployment and price rise are affecting their economic life. The marginalised social groups (dalits, adivasis and muslims) however, are more vocal than others. In fact, 67% of Muslims assert that finding a job has become very difficult for them. Similarly, Muslims are also comparatively more concerned about the price rise (76%). It shows that the economic questions are interpreted through the prism of social identity at the grassroots level (Table 6). This makes the idea of social justice more comprehensive and meaningful. Poor and marginalised Indian communities desire to have economic sustainability without giving up the idea of social justice.

Finally, our findings also show the relationship between economic hardship and political expectations. We find that a majority of respondents (Table 7) believe that both the Central government and State governments are responsible for shrinking employment opportunities and price rises (Table 8). This perception can be interpreted in two related ways. There is a clear expectation from the State to intervene in the economic life of the country for creating a level playing field for all sections of society. In this sense, the dominant political consensus that the market-driven liberal economy can regulate itself and there is no need for State intervention becomes clearly contested. At the same time, this finding also underscores the limits of what I call charitable State — a State that provides welfare as charity not as a right. Our previous studies have shown that there has been an acceptability for welfare schemes introduced by the different governments in favour of poor and marginalised communities. However, this State charity is not seen as a permanent solution. Instead, there is an assertion that the State should ensure the possibilities of dignified employment. It will be interesting to see how this politics of economic dignity is translated into actual electoral outcomes.

(Hilal Ahmed is Associate professor at Centre for the Study of Developing Societies)



Source link

]]>
Unemployed Afghans under Taliban risk death and debt in hunt for gold https://artifex.news/article67944142-ece/ Tue, 12 Mar 2024 16:15:00 +0000 https://artifex.news/article67944142-ece/ Read More “Unemployed Afghans under Taliban risk death and debt in hunt for gold” »

]]>

Afghan miners dig inside a tunnel of a gold mine in the mountains of Yaftal Sufla district in Badakhshan province.
| Photo Credit: AFP

Tearing off a piece of mouldy flatbread, Homayon gulped tea in a brief reprieve from the din of the machines he and a dozen other men were using to dig for gold on a mountainside in northeastern Afghanistan.

The 30-year-old found little work as a mechanic in nearby Faizabad city, so he banded with other unemployed men to try their luck carving out a living in the rocky mountains that dominate Badakhshan province.

“Five, six of us were jobless, we came here to see if we can find anything,” Homayon said, as the handful of men finished their break and returned to work at the small-scale mine they had set up.

Their efforts digging four tunnels have borne little fruit, even as they pour money into fuel, tools and labour.

Other mines in the area had proved productive, Homayon said, so they kept digging — the promise of a windfall outweighing the risks of debt.

‘Significant losses’

The losses can be significant, warned fellow miner Qadir Khan. “There are people who went into debt and were not able to find anything from these kinds of tunnels,” he said.

“They lost two to three hundred thousand Afghanis (roughly $2,800-$4,200), and there was nothing to do but try to find different work, make money, and come back to pay their debts.”

Despite being 74 years old, Mr. Khan says he has no choice but to keep working, as he hunches over a pile of rocks to break them into smaller pieces.

The Afghan Taliban’s takeover of the country in 2021 may have seen an end to two decades of war with the U.S. and its allies, but, according to a World Bank report, half the population is still living in poverty.

Labourer Sharif, 60, said he used to keep livestock but has been mining for the last year. Two of his sons had left for Iran to find work. “We are still farming, but it is not the way it used to be,” he said, complaining of a lack of water — another shortage drought-hit Afghanistan has faced in recent years.

The rocks Sharif helps mine are broken up and hoisted down the steep mountainside, then pulverised into a flour-like substance. On the banks of the Kokcha River, which snakes between snow-capped peaks, men use makeshift buckets to scoop water over piles of the powder. It is then sifted as it runs down a sluice covered by material pulled from car interiors.

The proceeds of the first wash are used to fund the equipment and labour and to keep the mine going. The gains from the second and third washes are shared between those bankrolling the operation.

Even if the miners can collect significant amounts of gold, a fifth of proceeds will go to the Taliban authorities.

High stakes

Delving deep into the Afghan mountains, the miners risk not just debt, but death as well. Mine collapses are common in Afghanistan, which is rich with precious minerals like the lapis lazuli Badakhshan is famous for.

The miners on the Kokcha said they had lost friends recently, and local media reported earlier this month that a gold miner died when part of a mine collapsed in neighbouring Takhar province.

In 2019, at least 30 people were killed when a gold mine collapsed in Badakhshan.

Despite the risks, the men continue digging.

“So far we have not found much of anything,” said Homayon. “But we have hope, we trust in God.”



Source link

]]>
Salaries Likely To Shrink In 2024 As Companies Trim Their Budget https://artifex.news/salaries-likely-to-shrink-in-2024-as-companies-trim-their-budget-4445044/ Tue, 03 Oct 2023 08:03:57 +0000 https://artifex.news/salaries-likely-to-shrink-in-2024-as-companies-trim-their-budget-4445044/ Read More “Salaries Likely To Shrink In 2024 As Companies Trim Their Budget” »

]]>

Workers in technology have been particularly hard hit.

Companies are trimming their budgets for merit raises next year, a sign of belt-tightening that could surprise some employees who had enjoyed two straight years of increases.   

US employers surveyed by Aon Plc, which compiles compensation data on more than 5,500 employers, said merit raises will average about 3.7% across all industries next year, down from 3.9% this year, as companies rein in labor budgets and inflation eases from last year’s highs. A separate survey from workplace consultant Mercer found a similar trend, with merit-based salaries seen rising 3.5% next year, down from 3.9% in 2023.

Latest and Breaking News on NDTV

“People are not going to spend what they spent last year,” said Tim Brown, a partner at Aon. “Also, inflation has come down since last year. So there’s more pressure on salaries.”   

Workforce leaders echoed the findings. Bob Toohey, chief human resources officer at Allstate Insurance Co., said compensation budgets in the US “will be lower than last year – all company budgets will be lower than last year.”  

The pay gains projected by Aon and Mercer are still well above pre-pandemic levels, when raises were stuck around 3% annually. That’s due to the continued resilience of the labor market and historically low unemployment, Mercer Senior Principal Lauren Mason said. Initial jobless claims in the week ending Sept. 16 fell within striking distance of the lowest level in more than five decades, according to Labor Department data. US inflation, which topped 9% last summer, is less than half that now. Mason said that further reductions in compensation budgets are possible next year as companies adapt to the changing economic landscape. 

Workers in technology have been particularly hard hit, with only 5% of firms in the industry saying they’re now hiring aggressively, according to Aon. That’s down from 22% last year. Tech firms usually top other areas when it comes to projected salary increases, but in the wake of layoffs and cost-cutting drives they’re due to deliver merit raises of just 3.3% next year, Mercer found – below sectors such as energy and consumer goods.

A separate survey from technology job site Hired found that tech salaries are now at a five-year low, adjusted for inflation. But jobs that require specialized skills, like machine learning engineers and data scientists, are still in high demand. 

Salary increases tied to promotions will also decelerate next year, Mercer found, for the simple reason that companies plan to promote fewer people. During the hiring boom of 2021 and 2022, many companies handed out raises and promotions to white-collar workers, even in the middle of the year, to hold onto their best people. Seven out of ten companies spent more than they had planned on pay adjustments during that period, a survey from workplace consultant Willis Towers Watson (WTW) found.   

A separate report from WTW found that organizations are budgeting for overall salary increases of about 4% next year, down from the 4.4% boost they paid out this year. While raises are not as large as they were in recent years, companies are getting more generous with perks and benefits such as flexible-work schedules and paid parental leave, according to a recent survey from staffing firm Robert Half Inc. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Waiting for response to load…



Source link

]]>
Food delivery partners’ double whammy: Decreasing income levels, rising petrol costs | Data https://artifex.news/article67312271-ece/ Sun, 17 Sep 2023 11:00:14 +0000 https://artifex.news/article67312271-ece/ Read More “Food delivery partners’ double whammy: Decreasing income levels, rising petrol costs | Data” »

]]>

Making deliveries on time. Illustration of a food delivery worker riding a vehicle to drop a delivery
| Photo Credit: Getty Images/iStockphoto

A survey report on food delivery partners by the National Council of Applied Economic Research validates several common beliefs, such as workers being young graduates who work extended hours for better pay and independence. However, the study also reveals new insights: a sizable portion of them are sole breadwinners in their families and a notable share experienced a drop in income compared to their previous jobs. The findings further indicate a decline in their real income over time even as the share of income that they spent on fuel has risen, resulting in a double whammy

  1. A majority of them agreed that deliveries can be increased if they worked harder, while a similar share also said that this was not in their control due to traffic and restaurant delays
  2. A significant share of them spent a sizeable amount buying new phones and vehicles for the job

Profile of a food delivery partner

An overview of the average food delivery worker, encompassing their background and skill sets, according to the survey

  • The typical food delivery worker is a 29-year-old male
  • Nearly one-fourth (23.8%) of these workers are in their first job, and of this group, 88% are students
  • Food delivery workers lack social security protection. Only 61.9% of delivery workers receive rations, 12.2% possess an Ayushman Bharat card, 7.1% are registered on the e-Shram portal, and 4% are enrolled in the Atal Pension Yojana
  • These workers are considered informal labour, lacking employer-provided social welfare and job security, although some may have accident insurance
  • Workers on long shifts average 10.8 hours, while those on short shifts work about 5.2 hours
  • A third of the workers have college degrees, and 93% have at least completed 10th standard
  • 43.7% of workers are the sole wage earners, and 68.9% are non-migrants who work in their hometowns
  • On average, workers stay in their food delivery roles for about 14.1 months, though a third indicate that they have no plans to leave
  • In terms of tenure, 28.1% have been working in such platforms for less than a year and 25.7% for 1-2 years, making them pandemic-era hires. Meanwhile, 24.7% started before the pandemic, having worked for over two years
  • Food delivery workers work 27.8% more hours than the average urban young male and earn 59.6% more. However, after accounting for fuel expenses, this income advantage narrows to 5%

Incentives

Chart 1 | A look at the reasons given by workers for joining the food delivery platforms (% respondents)

Charts appear incomplete? Click to remove AMP mode

Basis of entry

Chart 2 | How did workers enter the food delivery platform? (% respondents)

Job requirements

To work for a food delivery service, a worker is required to own a two-wheeler and know how to use it, have a smartphone, and buy a kit that includes a T-shirt and bags

Old vs new job

Chart 3 | The chart contrasts different facets of employment in food delivery platforms with the prior jobs of those who work long shifts in food delivery

Income and expenditure

Examining the change in a food delivery worker’s income levels due to this new job

Chart 4 | % of long-shift workers who said their real income (new income minus previous job’s monthly income) increased/decreased/remained same

Chart 5 | Year-wise nominal and real monthly income of long-shift food delivery workers (in ₹ thousand)

Chart 6 | Year-wise share of fuel costs for long-shift food delivery workers as a share of their income

Chart 7 | Average monthly earnings, fuel costs, and monthly spending (excluding fuel) for long-shift platform workers

Perceptions about delivery

The charts show the share of respondents who said the following:

Chart 8 | The number of deliveries can be increased if a worker tries harder

Chart 9 | The number of deliveries a worker makes is not in their control

Chart 10 | The worker can improve their rating if they are polite to their customers

Chart 11 | The worker has to spend a lot of time waiting at a restaurant for an order

Methodology

NCAER conducted a phone survey involving 924 food delivery workers from a specific platform. The survey spanned 28 cities, covering Tier 1, 2, and 3 cities across all regions of India—North, South, East, and West. It included both active and inactive or former workers, who had employment durations ranging from less than a year to over two years, working either full-time or part-time.

This report, the first output of a three-part research programme undertaken by NCAER extensively explores the socio-economic implications of workers engaged in the food delivery platform industry, shedding light on their employment patterns, incomes, and work environments. Parts two and three of the research programme reports, to be released subsequently, will evaluate the socio-economic impact of food delivery platforms on restaurants, and their systemic impact on India’s economy and labour markets.

Also read: Gig Workers Bill: reading between the lines

Listen to our Data podcast | A discussion on Madras HC judgment: Wife can claim a share in husband’s property | Data Point podcast



Source link

]]>
This Millionaire CEO Wants Unemployment To Increase By 50% Because… https://artifex.news/this-millionaire-ceo-wants-unemployment-to-increase-by-50-because-4394795/ Sat, 16 Sep 2023 04:37:56 +0000 https://artifex.news/this-millionaire-ceo-wants-unemployment-to-increase-by-50-because-4394795/ Read More “This Millionaire CEO Wants Unemployment To Increase By 50% Because…” »

]]>

Tim Gurner is the CEO of Australian real estate company Gurner Group

A multi-millionaire property developer from Australia has sparked outrage after saying that he wants unemployment to rise in his country because workers have become ”too arrogant”. Tim Gurner, CEO of Australian real estate company Gurner Group said that the Covid pandemic had changed employees’ work ethic and they need to be put in their place through unemployment, Independent reported. 

”I think the problem that we’ve had is that people decided they didn’t really want to work so much anymore through COVID. They have been paid a lot to do not too much in the last few years, and we need to see that change” he told the Australian Financial Review Property Summit in Sydney.

According to him, the key to curbing “arrogance” in the labour market is higher unemployment.

”We need to see unemployment rise. Unemployment has to jump 40, to 50 percent in my view. We need to see the pain in the economy. We need to remind people that they work for the employer, not the other way around,” he added.

”There’s been a systematic change where employees feel the employer is extremely lucky to have them, as opposed to the other way around. We’ve got to kill that attitude and that has to come through hurting the economy,” he further said. 

The unemployment rate in Australia is 3.6 per cent, or roughly 500,000 people, meaning an estimated 250,000 workers would lose their jobs in a 50 per cent increase.

A video of his controversial comments has gone viral on social media, sparking instant backlash. ”Why doesn’t he do us a favour and volunteer his job as the first step to the 50%,” one user wrote. Another said, ”Everything a business leader should not say. Kind of unbelievable.”

His comments also drew a fierce reaction from the US democrat Alexandria Ocasio-Cortez.

”Reminder that major CEOs have skyrocketed their own pay so much that the ratio of CEO-to-worker pay is now at some of the highest levels *ever* recorded,” Ocasio-Cortez wrote on X.

After receiving backlash for his statements, he said in a LinkedIn post on Thursday that he was “wrong” to say what he did. He admitted that his comments were ”deeply insensitive”.

“At the AFR Property Summit this week I made some remarks about unemployment and productivity in Australia that I deeply regret and were wrong. There are clearly important conversations to have in this environment of high inflation, pricing pressures on housing and rentals due to a lack of supply, and other cost-of-living issues. My comments were deeply insensitive to employees, tradies and families across Australia who are affected by these cost-of-living pressures and job losses. 

”I want to be clear: I do appreciate that when someone loses their job it has a profound impact on them and their families and I sincerely regret that my words did not convey empathy for those in that situation,” Mr Gurner wrote.

Mr Gurner, who has been featured in Forbes Australia, and is one of Australia’s richest men, has a net worth of $912 million as per The Australian Financial Review’s estimates.  

Waiting for response to load…





Source link

]]>