The transition to electric vehicles will put around 73,000 jobs at risk in Italy, metal workers' unions and a lobby group said on Thursday, calling on the government to start discussions on measures to support the automotive industry.

Electric car transition puts over 70,000 jobs at risk in Italy

A report by UN International Labour Organisation (ILO) has revealed that ever since the Taliban took over Afghanistan, over half a million people have lost their jobs. Women have been hit especially hard. It is further expected that by the middle of this year, job losses will increase to nearly 700,000.&nbsp;

UN states that this comes as a result of the ongoing crisis in Afghanistan and "restrictions on women's participation in the workplace".

Women employment levels have seen a dip of over 16 per cent in the third quarter of 2021. Also, they are expected to fall by between 21 per cent and 28 per cent by mid-2022.&nbsp;

Ramin Behzad, senior coordinator of the ILO for Afghanistan said, "The situation in Afghanistan is critical and immediate support for stabilization and recovery is required. While the priority is to meet immediate humanitarian needs, lasting and inclusive recovery will depend on people and communities having access to decent employment, livelihoods and basic services.”

Many of the key sectors have also experienced a fall in employment. These include agriculture and the civil service. Also, in construction, the sector’s 538,000 workers have suffered.&nbsp;

The worsening situation may impact child labour levels in the country. Only 40 per cent of children aged 5-17 years old attend school. As per ILO, there are more than 770,000 boys and about 300,000 girls involved in child labour.&nbsp;

Earlier, the UN had warned that Afghanistan is on the brink of 'universal poverty'. UN special envoy Deborah Lyons asked world leaders to come together and help Afghanistan from falling into extreme poverty.

"The economy must be allowed to breathe for a few more months, giving the Taliban a chance to demonstrate flexibility and a genuine will to do things differently this time, notably from a human rights, gender, and counter-terrorism perspective," Lyons said.

(With inputs from agencies)

A report by UN International Labour Organisation (ILO) has revealed that ever since the Taliban took over Afghanistan, over half a million people have lost their jobs.

A report by UN International Labour Organisation (ILO) has revealed that ever since the Taliban took over Afghanistan, over half a million people have lost their jobs. Women have been hit especially hard. It is further expected that by the middle of this year, job losses will increase to nearly 700,000. UN states that this comes as a result of the ongoing crisis in Afghanistan and "restrictions on women's participation in the workplace". Women employment levels have seen a dip of over 16 per cent in the third quarter of 2021. Also, they are expected to fall by between 21 per cent and 28 per cent by mid-2022. Ramin Behzad, senior coordinator of the ILO for Afghanistan said, "The situation in Afghanistan is critical and immediate support for stabilization and recovery is required. While the priority is to meet immediate humanitarian needs, lasting and inclusive recovery will depend on people and communities having access to decent employment, livelihoods and basic services.” Many of the key sectors have also experienced a fall in employment. These include agriculture and the civil service. Also, in construction, the sector’s 538,000 workers have suffered. The worsening situation may impact child labour levels in the country. Only 40 per cent of children aged 5-17 years old attend school. As per ILO, there are more than 770,000 boys and about 300,000 girls involved in child labour. Earlier, the UN had warned that Afghanistan is on the brink of 'universal poverty'. UN special envoy Deborah Lyons asked world leaders to come together and help Afghanistan from falling into extreme poverty. "The economy must be allowed to breathe for a few more months, giving the Taliban a chance to demonstrate flexibility and a genuine will to do things differently this time, notably from a human rights, gender, and counter-terrorism perspective," Lyons said. (With inputs from agencies)

Over 500,000 jobs lost in Afghanistan since Taliban takeover, women worst hit

The job market bounces back to pre-pandemic levels as South Korea records the largest job growth in 7 years.

South Korea records largest job growth in 7 years

The deadly coronavirus pandemic has not only affected the healthcare systems but has also put a major strain on the global economy. In a recent development, it was revealed that the US economy added only 199,000 jobs in December. Also, the unemployment rate fell to 3.9 per cent. This comes as a major setback for analysts as they had expected a massive gain n payrolls.&nbsp;

A Labor Department report further revealed that the number of unemployed people dropped by 483,000 in December and by 4.5 million in the entire 2021.&nbsp;

Increases were seen in job gains for November and October. As per the data, the economy gained an average of 537,000 positions a month in 2021.

Michael Pearce, senior US economist with capital economics, in a report said, "The muted 199,000 gain in non-farm payrolls and the more muted increase in labor force participation suggest that worker shortages were becoming a bigger restraint on employment growth, even before the Omicron surge in infections, which could knock hundreds of thousands off payrolls in January."

<a href="https://www.wionews.com/world/explainer-chinas-zero-covid-strategy-what-it-is-how-it-functions-and-does-it-work-442865">Also read |&nbsp;Explainer: China's 'zero covid' strategy; what it is, how it functions and does it work?</a>

This comes at a time when consumer prices in the US surged by 6.8 per cent in November for the first time in decades. This was the highest annual inflation rate since June 1982.&nbsp;

Inflation has been a matter of concern since the pandemic has hit the globe.

The energy index saw a surge of 3.5 per cent in November as the gasoline index increased by 6.1 per cent. The food index saw an increase of 0.7 per cent as the index for food at home rose 0.8 per cent.

Acknowledging the current scenario, US President Joe Biden said, "Today's numbers reflect the pressures that economies around the world are facing as we emerge from a global pandemic, prices are rising."&nbsp;

Deeming inflation as "a real bump in the road," he said that "price and cost increase are slowing, although not as quickly as we'd like."&nbsp;

(With inputs from agencies)

The deadly coronavirus pandemic has not only affected the healthcare systems but has also put a major strain on the global economy. In a recent development, it was revealed that the US economy added only 199,000 jobs in December.

The deadly coronavirus pandemic has not only affected the healthcare systems but has also put a major strain on the global economy. In a recent development, it was revealed that the US economy added only 199,000 jobs in December. Also, the unemployment rate fell to 3.9 per cent. This comes as a major setback for analysts as they had expected a massive gain n payrolls. A Labor Department report further revealed that the number of unemployed people dropped by 483,000 in December and by 4.5 million in the entire 2021. Increases were seen in job gains for November and October. As per the data, the economy gained an average of 537,000 positions a month in 2021. Michael Pearce, senior US economist with capital economics, in a report said, "The muted 199,000 gain in non-farm payrolls and the more muted increase in labor force participation suggest that worker shortages were becoming a bigger restraint on employment growth, even before the Omicron surge in infections, which could knock hundreds of thousands off payrolls in January." Also read | Explainer: China's 'zero covid' strategy; what it is, how it functions and does it work? This comes at a time when consumer prices in the US surged by 6.8 per cent in November for the first time in decades. This was the highest annual inflation rate since June 1982. Inflation has been a matter of concern since the pandemic has hit the globe. The energy index saw a surge of 3.5 per cent in November as the gasoline index increased by 6.1 per cent. The food index saw an increase of 0.7 per cent as the index for food at home rose 0.8 per cent. Acknowledging the current scenario, US President Joe Biden said, "Today's numbers reflect the pressures that economies around the world are facing as we emerge from a global pandemic, prices are rising." Deeming inflation as "a real bump in the road," he said that "price and cost increase are slowing, although not as quickly as we'd like." (With inputs from agencies)

In a major setback to analysts, US added only 199,000 jobs in December

The number of Americans voluntarily quitting their jobs has surged to a record 4.5 million in November.

US: Rise in number of Americans quitting their jobs in the world's largest economy

A recent survey has revealed a drastic change in the Afghan media landscape since the Taliban took over. Carried out by non-profit organisation Reporters Without Borders (RSF) and the Afghan Independent Journalists Association (AIJA), the survey talks about how 231 media outlets have been shut and over 6,400 journalists have lost their jobs since the Taliban takeover.

Four out of five women journalists are no longer working.

The head of the International Federation of Journalists earlier said that journalism in Afghanistan is in danger of disappearing. He further said that reporters trying to continue working under the Taliban have been subjected to beatings and imprisonment.&nbsp;

Four months ago, most Afghan provinces had at least 10 privately-owned media outlets. However, now, regions have no local media at all.&nbsp;

A report by RSF cited the example of the mountainous northern province of Parwan where there were at least 10 media outlets in total. However, now just three are functioning.&nbsp;

<a href="https://www.wionews.com/south-asia/to-keep-aid-flowing-to-afghanistan-us-authorises-certain-transactions-with-taliban-439164">Also read |&nbsp;To keep aid flowing to Afghanistan, US authorises certain transactions with Taliban</a>

In Herat and several surrounding provinces, only 18 of the 51 media outlets are still operating. The central Kabul region has lost more than one of every two media outlets. It had the maximum number of media outlets in Afghanistan. Now, out of the 148 tallied before 15 August, only 72 are still operating.

This has led to a major impact on employment in the media sector. At the beginning of August, 10,790 people worked in the Afghan media, out of which 8,290 were men and 2,490 were women.

When this survey was carried out, only 4,360 people, including 3,950 men and 410 women, were remaining.&nbsp;

"Six provinces have seen three-quarters of their male journalists lose their jobs. But no female journalist at all is still working in 15 of the countries 34 provinces. For example, in the northern province of Jowzjan, which used to have 19 media outlets employing 112 women, none of the 12 media outlets still operating is employing a woman," stated the report.&nbsp;

Anthony Bellanger, secretary-general, IFJ while speaking to the Guardian said, I believe what we will see emerge is an official media – a Taliban media – and no women. All other journalists will just disappear. It wasn’t easy before – and even before the Taliban took power, journalists were killed – but it is very bleak now."

(With inputs from agencies)

A recent survey has revealed a drastic change in the Afghan media landscape since the Taliban took over. Carried out by non-profit organisation Reporters Without Borders (RSF) and the Afghan Independent Journalists Association (AIJA), the survey talks about how 231 media outlets have been shut and over 6,400 journalists have lost their jobs since the Taliban takeover.

A recent survey has revealed a drastic change in the Afghan media landscape since the Taliban took over. Carried out by non-profit organisation Reporters Without Borders (RSF) and the Afghan Independent Journalists Association (AIJA), the survey talks about how 231 media outlets have been shut and over 6,400 journalists have lost their jobs since the Taliban takeover. Four out of five women journalists are no longer working. The head of the International Federation of Journalists earlier said that journalism in Afghanistan is in danger of disappearing. He further said that reporters trying to continue working under the Taliban have been subjected to beatings and imprisonment. Four months ago, most Afghan provinces had at least 10 privately-owned media outlets. However, now, regions have no local media at all. A report by RSF cited the example of the mountainous northern province of Parwan where there were at least 10 media outlets in total. However, now just three are functioning. Also read | To keep aid flowing to Afghanistan, US authorises certain transactions with Taliban In Herat and several surrounding provinces, only 18 of the 51 media outlets are still operating. The central Kabul region has lost more than one of every two media outlets. It had the maximum number of media outlets in Afghanistan. Now, out of the 148 tallied before 15 August, only 72 are still operating. This has led to a major impact on employment in the media sector. At the beginning of August, 10,790 people worked in the Afghan media, out of which 8,290 were men and 2,490 were women. When this survey was carried out, only 4,360 people, including 3,950 men and 410 women, were remaining. "Six provinces have seen three-quarters of their male journalists lose their jobs. But no female journalist at all is still working in 15 of the countries 34 provinces. For example, in the northern province of Jowzjan, which used to have 19 media outlets employing 112 women, none of the 12 media outlets still operating is employing a woman," stated the report. Anthony Bellanger, secretary-general, IFJ while speaking to the Guardian said, I believe what we will see emerge is an official media – a Taliban media – and no women. All other journalists will just disappear. It wasn’t easy before – and even before the Taliban took power, journalists were killed – but it is very bleak now." (With inputs from agencies)

Since Taliban takeover, over 6,000 Afghan journalists have lost jobs; women journalists severely impacted

Once a top Palm oil producer of the world, Nigeria aims to revive the industry and create new jobs in the country.

Once a top producer, Nigeria aims to revive Palm oil industry & create new jobs

After coming under fire for insulting 900 people he had just laid off, Better.com CEO Vishal Garg sent an email to the company's remaining employees on Tuesday afternoon.&nbsp;

The CEO of a digital mortgage lender based in the United States has apologised to existing staff for how he handled the situation.&nbsp;

"I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you," Garg said in the letter to current employees.

An employee shared a video of Garg's Zoom conversation on December 1st, during which he fired around 900 SoftBank-backed staff.

The dismissals were attributed to market conditions and a drop in the company's performance, according to the CEO.

Since the firings, the entrepreneur, who is also the founder of Better.com, has been in the middle of a storm, particularly owing to the manner in which they were announced. 
 
<a href="https://www.wionews.com/world/watch-ceo-abruptly-terminates-over-900-employees-in-us-and-india-over-zoom-call-434583">Watch | CEO abruptly terminates over 900 employees in US and India over Zoom call</a> 
 
The dismissed employees made up 9% of the company's entire staff and were dispersed across the US and India.&nbsp;

According to Bloomberg, the mortgage lender also pushed back its public offering through a merger with Aurora Acquisition, a blank-check provider, after modifying the transaction a day before it laid off some of its employees.

According to Bloomberg, the corporation will seek additional regulatory permission after amending the merger conditions.

This will delay the transaction's completion, which the firms had previously stated would take place in the fourth quarter.&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-ceo-fires-900-people-on-zoom-call-434726/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

(With inputs from agencies)

After coming under fire for insulting 900 people he had just laid off, Better.com CEO Vishal Garg sent an email to the company's remaining employees on Tuesday afternoon.

After coming under fire for insulting 900 people he had just laid off, Better.com CEO Vishal Garg sent an email to the company's remaining employees on Tuesday afternoon. The CEO of a digital mortgage lender based in the United States has apologised to existing staff for how he handled the situation. "I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better. I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you," Garg said in the letter to current employees. An employee shared a video of Garg's Zoom conversation on December 1st, during which he fired around 900 SoftBank-backed staff. The dismissals were attributed to market conditions and a drop in the company's performance, according to the CEO. Since the firings, the entrepreneur, who is also the founder of Better.com, has been in the middle of a storm, particularly owing to the manner in which they were announced. Watch | CEO abruptly terminates over 900 employees in US and India over Zoom call The dismissed employees made up 9% of the company's entire staff and were dispersed across the US and India. According to Bloomberg, the mortgage lender also pushed back its public offering through a merger with Aurora Acquisition, a blank-check provider, after modifying the transaction a day before it laid off some of its employees. According to Bloomberg, the corporation will seek additional regulatory permission after amending the merger conditions. This will delay the transaction's completion, which the firms had previously stated would take place in the fourth quarter. (With inputs from agencies)

'I embarrassed you': Better.com CEO apologises for laying off 900 via zoom call

Days after the US-based mortgage come, Better.com, unceremoniously fired 900 people over Zoom call, three top executives have tendered their resignation.

Three of the companies’ top communications executives include Tanya Gillogley, head of public relations, Melanie Hahn, head of public relations, and Patrick Lenihan, VP of communications, according to multiple media reports.

The resignations come in response to the last week’s mass layoff, when CEO Vishal Garg abruptly terminated about 9% of the employees, which comprised of staff from US and India.

Garg received severe backlash over his move, following which he wrote an apology for the current employees of the SoftBank-backed mortgage lender firm.

Also see | <a href="https://www.wionews.com/world/watch-ceo-abruptly-terminates-over-900-employees-in-us-and-india-over-zoom-call-434583">CEO abruptly terminates over 900 employees in US and India over Zoom call</a>

“I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better,” the letter reads.

“I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you.”

During the Zoom call, Garg had cited market efficiency, performance and productivity as the reason behind the firings.

Fortune later reported that Garg accused laid-off employees of “stealing” from colleagues and clients by being unproductive and working two hours a day.

“If you’re on this call, you are part of the unlucky group that is being laid off," Garg,&nbsp;who founded Better.com in 2016, said on the call on Monday.

“Your employment here is terminated effective immediately,” he said, adding that employees could expect an email from HR detailing benefits and severance.

(With inputs from agencies)

Days after the US-based mortgage come, Better.com, unceremoniously fired 900 people over Zoom call, three top executives have tendered their resignation. Three of the companies’ top communications executives include Tanya Gillogley, head of public relations, Melanie Hahn, head of public relations, and Patrick Lenihan, VP of communications, according to multiple media reports.

Days after the US-based mortgage come, Better.com, unceremoniously fired 900 people over Zoom call, three top executives have tendered their resignation. Three of the companies’ top communications executives include Tanya Gillogley, head of public relations, Melanie Hahn, head of public relations, and Patrick Lenihan, VP of communications, according to multiple media reports. The resignations come in response to the last week’s mass layoff, when CEO Vishal Garg abruptly terminated about 9% of the employees, which comprised of staff from US and India. Garg received severe backlash over his move, following which he wrote an apology for the current employees of the SoftBank-backed mortgage lender firm. Also see | CEO abruptly terminates over 900 employees in US and India over Zoom call “I failed to show the appropriate amount of respect and appreciation for the individuals who were affected and for their contributions to Better,” the letter reads. “I own the decision to do the layoffs, but in communicating it I blundered the execution. In doing so, I embarrassed you.” During the Zoom call, Garg had cited market efficiency, performance and productivity as the reason behind the firings. Fortune later reported that Garg accused laid-off employees of “stealing” from colleagues and clients by being unproductive and working two hours a day. “If you’re on this call, you are part of the unlucky group that is being laid off," Garg, who founded Better.com in 2016, said on the call on Monday. “Your employment here is terminated effective immediately,” he said, adding that employees could expect an email from HR detailing benefits and severance. (With inputs from agencies)

3 top executives of Better.com resign after CEO lays off 900 people over Zoom call

More than 900 employees in the US and India of a mortgage lender company were fired abruptly by the CEO during a three-minute Zoom call.

According to CNN, Better.com CEO Vishal Garg made the announcement on Wednesday saying that about 9 per cent of its workforce have been laid off.

“I come to you with not great news. The market has changed and we have to move with it in order to survive, so that hopefully, we can thrive and hopefully, deliver on our mission,” he said as he began the grim announcement.

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He blamed market efficiency, performance and productivity as the reason behind the firings,

“If you’re on this call, you are part of the unlucky group that is being laid off," Garg,&nbsp;who founded Better.com in 2016, said on the call.

“Your employment here is terminated effective immediately,” he said, adding that employees could expect an email from HR detailing benefits and severance.

Around 15 per cent of employees of the New York-headquartered company have lost their jobs as part of the cost-cutting exercise.

Garg said that this is the second round of lay-offs Garg has undertaken.

A video of the Zoom call has been widely shared on the internet.

“Having to conduct layoffs is gut-wrenching, especially this time of year," CFO Kevin Ryan said in a statement to CNN Business.

“However, a fortress balance sheet and a reduced and focused workforce together set us up to play offence going into a radically evolving homeownership market.”

(With inputs from agencies)

More than 900 employees in the US and India of a mortgage lender company were fired abruptly by the CEO during a three-minute Zoom call. According to CNN, Better.

More than 900 employees in the US and India of a mortgage lender company were fired abruptly by the CEO during a three-minute Zoom call. According to CNN, Better.com CEO Vishal Garg made the announcement on Wednesday saying that about 9 per cent of its workforce have been laid off. “I come to you with not great news. The market has changed and we have to move with it in order to survive, so that hopefully, we can thrive and hopefully, deliver on our mission,” he said as he began the grim announcement. × He blamed market efficiency, performance and productivity as the reason behind the firings, “If you’re on this call, you are part of the unlucky group that is being laid off," Garg, who founded Better.com in 2016, said on the call. “Your employment here is terminated effective immediately,” he said, adding that employees could expect an email from HR detailing benefits and severance. Around 15 per cent of employees of the New York-headquartered company have lost their jobs as part of the cost-cutting exercise. Garg said that this is the second round of lay-offs Garg has undertaken. A video of the Zoom call has been widely shared on the internet. “Having to conduct layoffs is gut-wrenching, especially this time of year," CFO Kevin Ryan said in a statement to CNN Business. “However, a fortress balance sheet and a reduced and focused workforce together set us up to play offence going into a radically evolving homeownership market.” (With inputs from agencies)

Watch | CEO abruptly terminates over 900 employees in US and India over Zoom call

People across West Asia are on high alert, extreme weather events are being witnessed across regions. From earthquakes, floods to droughts and wildfires, West Asian nations are now being battered by climate change and its consequences.

Report: Water crisis will impact Iraq's growth and jobs

Northern American businesses are ordering robots to meet consumer demands amid a labour shortage in the country. But are robots coming after the jobs of humans? Palki Sharma tells you more.

Gravitas: US companies hire robots to fill jobs amid labour shortage

Facebook on Monday announced plans to hire 10,000 people in the European Union to build the "metaverse", a virtual reality version of the internet that the tech giant sees as the future.

Facebook CEO Mark Zuckerberg has been a leading voice in Silicon Valley hype around the idea of the metaverse, which would blur the lines between the physical world and the digital one.

Also Read |&nbsp;<a href="https://www.wionews.com/world/hate-speech-for-profit-facebook-whistleblower-reveals-identity-418061">Hate speech for profit: Facebook whistleblower reveals identity</a>

The technology might, for example, allow someone to don virtual reality glasses that make it feel as if they're face-to-face with a friend -- when in fact they are thousands of miles apart and connected via the internet.&nbsp;

"The metaverse has the potential to help unlock access to new creative, social, and economic opportunities. And Europeans will be shaping it right from the start," Facebook said in a blog post.&nbsp;

"Today, we are announcing a plan to create 10,000 new high skilled jobs within the European Union (EU) over the next five years."

The European hires will include "highly specialised engineers", but the company otherwise gave few details of its plans for the new metaverse team. &nbsp;

"The EU has a number of advantages that make it a great place for tech companies to invest -- a large consumer market, first class universities and, crucially, top quality talent," the blog post said.&nbsp;

Distraction from bad news ?&nbsp;

The announcement comes as Facebook grapples with the fallout of a damaging scandal, major outages of its services, and rising calls for regulation to curb its vast influence.&nbsp;

The company has faced a storm of criticism over the past month after former employee Frances Haugen leaked internal studies showing Facebook knew its sites could be harmful to young people's mental health.

The Washington Post last month suggested that Facebook's interest in the metaverse is "part of a broader push to rehabilitate the company's reputation with policymakers and reposition Facebook to shape the regulation of next-wave Internet technologies".

Also Read |&nbsp;<a href="https://www.wionews.com/world/how-facebook-kept-secret-list-of-terror-organisations-hate-groups-and-criminals-420423">How Facebook kept secret list of terror organisations, hate groups and criminals</a>

But Zuckerberg also appears to be a genuine evangelist for the advent of the metaverse era, predicting in July that Facebook will transition from "primarily being a social media company to being a metaverse company" over the next five years.&nbsp;

Facebook bought Oculus, a company that makes virtual reality headsets, for $2 billion in 2014 and has since been developing Horizon, a digital world where people can interact using VR technology.&nbsp;

In August it unveiled Horizon Workrooms, a feature where co-workers wearing VR headsets can hold meetings in a virtual room where they all appear as cartoonish 3D versions of themselves.&nbsp;

Blurring the lines&nbsp;

Metaverse enthusiasts point out that the internet is already starting to blur the lines between virtual experiences and "real" ones.&nbsp;

Stars such as pop diva Ariana Grande and the rapper Travis Scott have performed for huge audiences, watching at home, via the hit video game Fortnite.&nbsp;

Also Read |<a href="https://www.wionews.com/technology/facebook-backed-group-launches-misinformation-adjudication-panel-in-australia-419803">&nbsp;Facebook-backed group launches misinformation adjudication panel in Australia</a>

In Decentraland, another online platform widely seen as a forerunner to the metaverse, you can already get a job as a croupier in its virtual casino.&nbsp;

"No one company will own and operate the metaverse. Like the internet, its key feature will be its openness and interoperability," Facebook said in its blog post.&nbsp;

It is not the only company pouring millions into developing the technology that could turn a fully-fledged version of the metaverse into reality.&nbsp;

Epic Games, the company behind Fortnite, announced earlier this year that it had raised $1 billion in new funding, with some of that money set to support its vision of the metaverse.

Facebook on Monday announced plans to hire 10,000 people in the European Union to build the "metaverse", a virtual reality version of the internet that the tech giant sees as the future.

Facebook on Monday announced plans to hire 10,000 people in the European Union to build the "metaverse", a virtual reality version of the internet that the tech giant sees as the future. Facebook CEO Mark Zuckerberg has been a leading voice in Silicon Valley hype around the idea of the metaverse, which would blur the lines between the physical world and the digital one. Also Read | Hate speech for profit: Facebook whistleblower reveals identity The technology might, for example, allow someone to don virtual reality glasses that make it feel as if they're face-to-face with a friend -- when in fact they are thousands of miles apart and connected via the internet. "The metaverse has the potential to help unlock access to new creative, social, and economic opportunities. And Europeans will be shaping it right from the start," Facebook said in a blog post. "Today, we are announcing a plan to create 10,000 new high skilled jobs within the European Union (EU) over the next five years." The European hires will include "highly specialised engineers", but the company otherwise gave few details of its plans for the new metaverse team. "The EU has a number of advantages that make it a great place for tech companies to invest -- a large consumer market, first class universities and, crucially, top quality talent," the blog post said. Distraction from bad news ? The announcement comes as Facebook grapples with the fallout of a damaging scandal, major outages of its services, and rising calls for regulation to curb its vast influence. The company has faced a storm of criticism over the past month after former employee Frances Haugen leaked internal studies showing Facebook knew its sites could be harmful to young people's mental health. The Washington Post last month suggested that Facebook's interest in the metaverse is "part of a broader push to rehabilitate the company's reputation with policymakers and reposition Facebook to shape the regulation of next-wave Internet technologies". Also Read | How Facebook kept secret list of terror organisations, hate groups and criminals But Zuckerberg also appears to be a genuine evangelist for the advent of the metaverse era, predicting in July that Facebook will transition from "primarily being a social media company to being a metaverse company" over the next five years. Facebook bought Oculus, a company that makes virtual reality headsets, for $2 billion in 2014 and has since been developing Horizon, a digital world where people can interact using VR technology. In August it unveiled Horizon Workrooms, a feature where co-workers wearing VR headsets can hold meetings in a virtual room where they all appear as cartoonish 3D versions of themselves. Blurring the lines Metaverse enthusiasts point out that the internet is already starting to blur the lines between virtual experiences and "real" ones. Stars such as pop diva Ariana Grande and the rapper Travis Scott have performed for huge audiences, watching at home, via the hit video game Fortnite. Also Read | Facebook-backed group launches misinformation adjudication panel in Australia In Decentraland, another online platform widely seen as a forerunner to the metaverse, you can already get a job as a croupier in its virtual casino. "No one company will own and operate the metaverse. Like the internet, its key feature will be its openness and interoperability," Facebook said in its blog post. It is not the only company pouring millions into developing the technology that could turn a fully-fledged version of the metaverse into reality. Epic Games, the company behind Fortnite, announced earlier this year that it had raised $1 billion in new funding, with some of that money set to support its vision of the metaverse.

Facebook announces 10,000 European Union jobs to build 'metaverse'

According to LinkedIn data provided to Forbes, the number of job advertisements requiring COVID-19 immunisation has "jumped 20 times" in the last two months.

Since the US Food and Drug Administration (FDA) awarded full permission to the Pfizer-BioNTech vaccine shot in August, a LinkedIn spokesman told Forbes that the platform has witnessed a "dramatic spike" in postings requiring immunisation.&nbsp;

ALSO READ | <a href="https://www.wionews.com/world/democrats-move-to-avert-shutdown-but-divisions-imperil-bidens-agenda-417166">Democrats move to avert shutdown, but divisions imperil Biden's agenda</a>

According to the spokesman, such statistics indicated that "businesses were waiting" for FDA permission before imposing vaccine mandates as a work condition.&nbsp;

Although LinkedIn did not provide exact data, it did include food production, IT services, biotechnology, marketing/advertising, and legal as the businesses with the most vaccine-related job listings.

The report also stated that New York City, Boston, San Francisco, Fayetteville (Arkansas), and Washington, D.C. had the highest number of jobs requiring vaccinations.&nbsp;

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According to a recent article in The Wall Street Journal, job candidates are beginning to list their vaccination status on their applications.

According to the same article, Adzuna, a search engine that collects job listings from thousands of sources throughout the world, has seen a spike in the number of positions citing COVID-19 vaccination as a condition.

(With inputs from agencies)

According to LinkedIn data provided to Forbes, the number of job advertisements requiring COVID-19 immunisation has "jumped 20 times" in the last two months. Since the US Food and Drug Administration (FDA) awarded full permission to the Pfizer-BioNTech vaccine shot in August, a LinkedIn spokesman told Forbes that the platform has witnessed a "dramatic spike" in postings requiring immunisation.

According to LinkedIn data provided to Forbes, the number of job advertisements requiring COVID-19 immunisation has "jumped 20 times" in the last two months. Since the US Food and Drug Administration (FDA) awarded full permission to the Pfizer-BioNTech vaccine shot in August, a LinkedIn spokesman told Forbes that the platform has witnessed a "dramatic spike" in postings requiring immunisation. ALSO READ | Democrats move to avert shutdown, but divisions imperil Biden's agenda According to the spokesman, such statistics indicated that "businesses were waiting" for FDA permission before imposing vaccine mandates as a work condition. Although LinkedIn did not provide exact data, it did include food production, IT services, biotechnology, marketing/advertising, and legal as the businesses with the most vaccine-related job listings. The report also stated that New York City, Boston, San Francisco, Fayetteville (Arkansas), and Washington, D.C. had the highest number of jobs requiring vaccinations. ALSO READ | Venezuela economic crisis: Over three-quarters live in extreme poverty According to a recent article in The Wall Street Journal, job candidates are beginning to list their vaccination status on their applications. According to the same article, Adzuna, a search engine that collects job listings from thousands of sources throughout the world, has seen a spike in the number of positions citing COVID-19 vaccination as a condition. (With inputs from agencies)

No jab, no job: Employment ads requiring vaccination witness 20-fold rise

Amazon is planning a huge recruitment drive and looking to hire 55,000 people for corporate and tech role globally. Reuters reported about the recruitment plans citing Amazon Chief Executive Andy Jassy exclusively. This was Jassy's first press interview since taking Amazon's top post in July.

The recruitment headcount alone is more than a third of Google's as of June 30 and is close to all of Facebook's

Jassy said that Amazon needed more firepower to keep up with demand in retail, the cloud, advertising and other businesses. &nbsp;He said the company's new bet to launch satellites into orbit to widen broadband access, called Project Kuiper, would require a lot of new hires, too.

With Amazon's annual job fair scheduled to begin Sept. 15, Jassy hopes now is a good time for recruiting.&nbsp; 
“There are so many jobs during the pandemic that have been displaced or have been altered, and there are so many people who are thinking about different and new jobs,” said Jassy, who cited a U.S. survey from PwC that 65% of workers wanted a new gig.

“It’s part of what we think makes ‘Career Day’ so timely and so useful,” he said. The new hires would represent a 20% increase in Amazon's tech and corporate staff, who currently number around 275,000 globally, the company said.

Amazon’s move, only the latest hiring spree on which it has embarked, follows a period of heightened scrutiny of its labor practices and opposition by the International Brotherhood of Teamsters. read more Earlier this year, a failed effort by some staff in Alabama to organize put on display Amazon’s taxing warehouse work and its aggressive stance against unions. In that battle’s aftermath, Jeff Bezos, the CEO whom Jassy succeeded, said Amazon needed a better vision for employees.

Asked how he might change Amazon’s demanding workplace culture, Jassy said its heavy focus on customers and inventiveness set it up for improvements.

“Everybody at the company has the freedom - and really, the expectation - to critically look at how it can be better and then invent ways to make it better.”

The positions Amazon is marketing include engineering, research science and robotics roles, postings that are largely new to the company rather than jobs others quit, it said.

In a reopening U.S. economy, and tightening labor market, some companies have struggled to fill vacancies and balance remote and in-person work. It was unclear how many of the Amazon jobs - such as for competitive engineering hires - have been open for some time.

Amazon, which earlier touted an "office-centric culture," later dialed back its vision and offered workers the opportunity to spend just three days a week at its offices in person starting next year.

Amazon is planning a huge recruitment drive and looking to hire 55,000 people for corporate and tech role globally. Reuters reported about the recruitment plans citing Amazon Chief Executive Andy Jassy exclusively.

Amazon is planning a huge recruitment drive and looking to hire 55,000 people for corporate and tech role globally. Reuters reported about the recruitment plans citing Amazon Chief Executive Andy Jassy exclusively. This was Jassy's first press interview since taking Amazon's top post in July. The recruitment headcount alone is more than a third of Google's as of June 30 and is close to all of Facebook's Jassy said that Amazon needed more firepower to keep up with demand in retail, the cloud, advertising and other businesses. He said the company's new bet to launch satellites into orbit to widen broadband access, called Project Kuiper, would require a lot of new hires, too. With Amazon's annual job fair scheduled to begin Sept. 15, Jassy hopes now is a good time for recruiting. “There are so many jobs during the pandemic that have been displaced or have been altered, and there are so many people who are thinking about different and new jobs,” said Jassy, who cited a U.S. survey from PwC that 65% of workers wanted a new gig. “It’s part of what we think makes ‘Career Day’ so timely and so useful,” he said. The new hires would represent a 20% increase in Amazon's tech and corporate staff, who currently number around 275,000 globally, the company said. Amazon’s move, only the latest hiring spree on which it has embarked, follows a period of heightened scrutiny of its labor practices and opposition by the International Brotherhood of Teamsters. read more Earlier this year, a failed effort by some staff in Alabama to organize put on display Amazon’s taxing warehouse work and its aggressive stance against unions. In that battle’s aftermath, Jeff Bezos, the CEO whom Jassy succeeded, said Amazon needed a better vision for employees. Asked how he might change Amazon’s demanding workplace culture, Jassy said its heavy focus on customers and inventiveness set it up for improvements. “Everybody at the company has the freedom - and really, the expectation - to critically look at how it can be better and then invent ways to make it better.” The positions Amazon is marketing include engineering, research science and robotics roles, postings that are largely new to the company rather than jobs others quit, it said. In a reopening U.S. economy, and tightening labor market, some companies have struggled to fill vacancies and balance remote and in-person work. It was unclear how many of the Amazon jobs - such as for competitive engineering hires - have been open for some time. Amazon, which earlier touted an "office-centric culture," later dialed back its vision and offered workers the opportunity to spend just three days a week at its offices in person starting next year.

Amazon to hire 55,000 people in a big recruitment push

Trade unions warn about a "social tsunami", left-wing parties of a "massacre for employment", the imminent end of&nbsp;Italy's coronavirus freeze on layoffs is causing tensions in Mario Draghi's national unity government.

Supporters say the freeze, which is unique in Europe, saved thousands of jobs after the pandemic plunged&nbsp;Italy&nbsp;into a deep recession, but the European Union has been disparaging, and employers are angling for its end.

Companies were first banned from sacking workers under former premier Giuseppe Conte in February 2020, when a wave of COVID-19 sparked Europe's first nationwide lockdown in&nbsp;Italy. The measure was later extended.

Also read |&nbsp;<a href="https://www.wionews.com/world/virus-battered-italy-faces-worst-recession-since-wwii-301977">Virus-battered Italy faces worst recession since WWII</a>

When Draghi took office in February this year, he said the government "should protect workers... but it would be a mistake to protect all economic activities equally", saying there must be a "choice".

The European Commission entered the fray this month, denouncing the ban on layoffs as "counterproductive" as it protects employees on long-term contracts but not those in more precarious jobs, notably women and young people.

It asserted that in France and Germany, which instead offered financial support for people whose hours were cut by struggling companies, the effects of the pandemic on employment have been less severe than in&nbsp;Italy.

Coronavirus cases are now on the wane and&nbsp;Italy's freeze is due to expire at the end of June for the biggest companies, notably in industry and construction, although small and medium-sized firms, particularly in services, have until the end of October.

Also read |&nbsp;<a href="https://www.wionews.com/world/italys-new-government-will-overhaul-renzi-labour-reform-minister-says-141946">Italy's new government will overhaul Renzi labour reform, minister says</a>

The members of Draghi's coalition government, who rallied around the former European Central Bank chief after Conte's government collapsed, are divided on the subject.

The biggest party in parliament, the Five Star Movement, has echoed trade unions in calling for a further extension of the layoff ban for everyone, while far-right League leader Matteo Salvini wants companies to take back the "freedom to hire".

Labour Minister Andrea Orlando, from the centre-left Democratic Party (PD), last month raised the prospect of an extension under certain conditions until August, before back-tracking under pressure from employers.

'A million more unemployed'&nbsp;

The minister for economic development, Giancarlo Giorgetti, a member of the League, has instead proposed extending the freeze for the hardest-hit sectors, such as textiles.

Also read |&nbsp;<a href="https://www.wionews.com/world/why-covid-caused-such-suffering-in-italys-wealthiest-region-344552">Why COVID caused such suffering in Italy's wealthiest region</a>

The fear is that&nbsp;Italy&nbsp;could face a wave of redundancies when the ban ends.

"The most realistic estimates point to 70,000 to 100,000 layoffs, which is certainly not negligible, but is not enormous," Francesco Seghezzi, head of the Adapt Foundation, which specialises in research on employment, told AFP.

Trade unions fear the numbers could be much higher, warning of "a million more unemployed", while the Bank of&nbsp;Italy&nbsp;estimates 440,000 jobs were saved in 2020 thanks to the rule.

Despite the ban, there were 550,000 layoffs in&nbsp;Italy&nbsp;in 2020, as those related to disciplinary issues or the closure of companies were exempt.

There are also hundreds of thousands of workers in more precarious jobs whose contracts were not renewed.&nbsp;In total, almost a million jobs were lost last year in&nbsp;Italy.

The unemployment rate reached 10.4 per cent in the first quarter of 2021, the highest since the beginning of 2019. Among the 15-24 age group, it rose to 39.2 per cent for women and 32.7 per cent for men.

But the economy is picking up steam once again and some sectors such as manufacturing and construction are struggling to find staff owing to a lack of skilled recruits.

Almost 1.3 million jobs, most of them temporary, need to be filled between June and August, according to the Union of Chamber of Commerce (Unioncamere).

Confindustria,&nbsp;Italy's main employers' organisation, has forecast economic growth of around five per cent in 2021, a prediction shared by the Bank of&nbsp;Italy.

Confindustria president Carlo Bonomi believes the conditions are ripe for a "little economic miracle".

"The signs of economic recovery are so encouraging that the lifting of the ban on layoffs could have a less dramatic impact than initially feared," David Benassi, professor of sociology at the University of Milano-Bicocca, told AFP.

Trade unions warn about a "social tsunami", left-wing parties of a "massacre for employment", the imminent end of Italy's coronavirus freeze on layoffs is causing tensions in Mario Draghi's national unity government.

Trade unions warn about a "social tsunami", left-wing parties of a "massacre for employment", the imminent end of Italy's coronavirus freeze on layoffs is causing tensions in Mario Draghi's national unity government. Supporters say the freeze, which is unique in Europe, saved thousands of jobs after the pandemic plunged Italy into a deep recession, but the European Union has been disparaging, and employers are angling for its end. Companies were first banned from sacking workers under former premier Giuseppe Conte in February 2020, when a wave of COVID-19 sparked Europe's first nationwide lockdown in Italy. The measure was later extended. Also read | Virus-battered Italy faces worst recession since WWII When Draghi took office in February this year, he said the government "should protect workers... but it would be a mistake to protect all economic activities equally", saying there must be a "choice". The European Commission entered the fray this month, denouncing the ban on layoffs as "counterproductive" as it protects employees on long-term contracts but not those in more precarious jobs, notably women and young people. It asserted that in France and Germany, which instead offered financial support for people whose hours were cut by struggling companies, the effects of the pandemic on employment have been less severe than in Italy. Coronavirus cases are now on the wane and Italy's freeze is due to expire at the end of June for the biggest companies, notably in industry and construction, although small and medium-sized firms, particularly in services, have until the end of October. Also read | Italy's new government will overhaul Renzi labour reform, minister says The members of Draghi's coalition government, who rallied around the former European Central Bank chief after Conte's government collapsed, are divided on the subject. The biggest party in parliament, the Five Star Movement, has echoed trade unions in calling for a further extension of the layoff ban for everyone, while far-right League leader Matteo Salvini wants companies to take back the "freedom to hire". Labour Minister Andrea Orlando, from the centre-left Democratic Party (PD), last month raised the prospect of an extension under certain conditions until August, before back-tracking under pressure from employers. 'A million more unemployed' The minister for economic development, Giancarlo Giorgetti, a member of the League, has instead proposed extending the freeze for the hardest-hit sectors, such as textiles. Also read | Why COVID caused such suffering in Italy's wealthiest region The fear is that Italy could face a wave of redundancies when the ban ends. "The most realistic estimates point to 70,000 to 100,000 layoffs, which is certainly not negligible, but is not enormous," Francesco Seghezzi, head of the Adapt Foundation, which specialises in research on employment, told AFP. Trade unions fear the numbers could be much higher, warning of "a million more unemployed", while the Bank of Italy estimates 440,000 jobs were saved in 2020 thanks to the rule. Despite the ban, there were 550,000 layoffs in Italy in 2020, as those related to disciplinary issues or the closure of companies were exempt. There are also hundreds of thousands of workers in more precarious jobs whose contracts were not renewed. In total, almost a million jobs were lost last year in Italy. The unemployment rate reached 10.4 per cent in the first quarter of 2021, the highest since the beginning of 2019. Among the 15-24 age group, it rose to 39.2 per cent for women and 32.7 per cent for men. But the economy is picking up steam once again and some sectors such as manufacturing and construction are struggling to find staff owing to a lack of skilled recruits. Almost 1.3 million jobs, most of them temporary, need to be filled between June and August, according to the Union of Chamber of Commerce (Unioncamere). Confindustria, Italy's main employers' organisation, has forecast economic growth of around five per cent in 2021, a prediction shared by the Bank of Italy. Confindustria president Carlo Bonomi believes the conditions are ripe for a "little economic miracle". "The signs of economic recovery are so encouraging that the lifting of the ban on layoffs could have a less dramatic impact than initially feared," David Benassi, professor of sociology at the University of Milano-Bicocca, told AFP.

'Massacre of unemployment' feared as Italy eyes end to Covid ban on layoffs

What are the new technologies that will emerge in the post-Coronavirus world and what will be the job scenario future? Insights lead of World Economic Forum (WEF), Vesselina Stefanova Ratcheva speaks exclusively to WION on these issues.

WION Exclusive: Human skills to be required more in future jobs says Insights lead, WEF

The impact of the deadly <a href="https://www.wionews.com/topics/coronavirus">coronavirus</a> on the ‘world of work’ is four times worse than the 2008 economic crisis that brought years of recession, the United Nations (UN) has claimed.

This pandemic had a "devastating" and "cataclysmic"&nbsp;effect that has led to a lot of tiredness and frustration, the UN’s International Labour Organization (ILO) said on Monday.

Also read |&nbsp;<a href="https://www.wionews.com/world/work-from-home-employees-are-quitting-instead-of-returning-to-the-office-389202">Work from home: Employees are quitting instead of returning to the office</a>

"Taken as a whole, this represents a world of work crisis four times as severe as the one triggered by the financial crisis of 2008 and 2009," ILO director-general Guy Ryder said.

In its first-ever virtual International Labour Conference (ILC), the focus this year was fostering “human-centered” recovery from the deadly coronavirus which has taken millions of lives around the world and has negatively affected everyone’s lifestyle.

<a href="https://www.wionews.com/videos/8-tips-to-make-work-from-home-easy-and-productive-292277">WATCH |</a>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/8-tips-to-make-work-from-home-easy-and-productive-292277/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"The working experience of this pandemic for some has been of inconvenience, tedium, stress, and frustration. For others it has been about fear, poverty, and survival," Ryder said.

As per the report, the pandemic has taken several jobs and has also majorly deteriorated the number of quality jobs. It has also pushed more than 100 million people into poverty.

Another major issue that has come up in this pandemic is the increased working hour. As companies shifted to work from home, employees were asked to put in extra hours, leading to increased fatigue, frustration, and decreased job satisfaction and good mental health.

Experts believe the unemployment rate can affect nearly 205 million people in 2022, which is much higher than the number of 187 million in 2019.

The impact of the deadly coronavirus on the ‘world of work’ is four times worse than the 2008 economic crisis that brought years of recession, the United Nations (UN) has claimed.

The impact of the deadly coronavirus on the ‘world of work’ is four times worse than the 2008 economic crisis that brought years of recession, the United Nations (UN) has claimed. This pandemic had a "devastating" and "cataclysmic" effect that has led to a lot of tiredness and frustration, the UN’s International Labour Organization (ILO) said on Monday. Also read | Work from home: Employees are quitting instead of returning to the office "Taken as a whole, this represents a world of work crisis four times as severe as the one triggered by the financial crisis of 2008 and 2009," ILO director-general Guy Ryder said. In its first-ever virtual International Labour Conference (ILC), the focus this year was fostering “human-centered” recovery from the deadly coronavirus which has taken millions of lives around the world and has negatively affected everyone’s lifestyle. WATCH | "The working experience of this pandemic for some has been of inconvenience, tedium, stress, and frustration. For others it has been about fear, poverty, and survival," Ryder said. As per the report, the pandemic has taken several jobs and has also majorly deteriorated the number of quality jobs. It has also pushed more than 100 million people into poverty. Another major issue that has come up in this pandemic is the increased working hour. As companies shifted to work from home, employees were asked to put in extra hours, leading to increased fatigue, frustration, and decreased job satisfaction and good mental health. Experts believe the unemployment rate can affect nearly 205 million people in 2022, which is much higher than the number of 187 million in 2019.

Impact of coronavirus four times worse than 2008 financial crisis: UN

Equity markets moved higher while the dollar fell on Friday after tepid job US growth numbers assuaged fears of a rapid reduction in stimulus measures and interest rate hikes.

The start of a Group of Seven finance ministers meeting drew investors' attention as well, with Europeans optimistic the world's wealthiest countries will support US-backed plans for a global minimum corporate tax.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/job-growth-slowed-in-april-muddling-expectations-383687">Job growth slowed in April, muddling expectations</a>

US Labor Department data released before Wall Street trading began showed the world's largest economy added 559,000 jobs in May, below expectations for the second straight month but an improvement on April.

That was good news for&nbsp;equities, as investors have feared the roaring return of the US economy would push the Federal Reserve to "taper" stimulus measures sooner than markets have been expecting.

Also Read |&nbsp;<a href="https://www.wionews.com/world/trump-says-jobs-report-proves-us-economy-roaring-back-310276">Trump says jobs report proves US economy 'roaring back'</a>

"This employment report was not too hot, not too cold obviously and I think that the fact that we didn't see any big hike in the wages suggests that the Fed is not going to be in a hurry to accelerate any tapering debate sooner than anticipated," said Peter Cardillo of Spartan Capital Securities.

The Dow ended up 0.5 per cent while the tech-rich Nasdaq added 1.5 per cent.

Before the closely-watched data was released, investors had been bracing for a jobs boom, after reports Thursday showed US private employers adding nearly one million positions in May and new unemployment benefits requests falling below 400,000 last week for the first time since the pandemic began.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/us-job-growth-slows-sharply-in-july-amid-coronavirus-resurgence-319004">US job growth slows sharply in July amid coronavirus resurgence</a>

"The key takeaway from the report is that it shows there is still ample room for improvement, which is apt to register in the Fed's mind as a basis for sticking with its patient-minded policy approach," said Briefing.com analyst Patrick O'Hare.&nbsp;

Taper fears

The highly accommodative monetary policies of the Fed and other central banks have been key drivers of the blockbuster rally in world&nbsp;equities&nbsp;after they cratered at the start of the pandemic.

But there have been growing concerns on trading floors that too strong a rebound in the economy will set off a boom in inflation, forcing the Fed to begin to wind down its vast bond-buying program or even lift interest rates to prevent overheating.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/dollar-rises-after-us-jobs-come-out-better-than-worst-expectations-253795">Dollar rises after US jobs come out better than worst expectations</a>

CMC Markets analyst Michael Hewson said the jobs figure was "helping to support a view, that for all of the recent talk of a possible central bank retreat of support measures, that any such action was likely to be later rather than sooner."

And US central bankers have remained adamant that it is too soon to pull back on the stimulus measures.

Equity markets moved higher while the dollar fell on Friday after tepid job US growth numbers assuaged fears of a rapid reduction in stimulus measures and interest rate hikes.

Equity markets moved higher while the dollar fell on Friday after tepid job US growth numbers assuaged fears of a rapid reduction in stimulus measures and interest rate hikes. The start of a Group of Seven finance ministers meeting drew investors' attention as well, with Europeans optimistic the world's wealthiest countries will support US-backed plans for a global minimum corporate tax. Also Read | Job growth slowed in April, muddling expectations US Labor Department data released before Wall Street trading began showed the world's largest economy added 559,000 jobs in May, below expectations for the second straight month but an improvement on April. That was good news for equities, as investors have feared the roaring return of the US economy would push the Federal Reserve to "taper" stimulus measures sooner than markets have been expecting. Also Read | Trump says jobs report proves US economy 'roaring back' "This employment report was not too hot, not too cold obviously and I think that the fact that we didn't see any big hike in the wages suggests that the Fed is not going to be in a hurry to accelerate any tapering debate sooner than anticipated," said Peter Cardillo of Spartan Capital Securities. The Dow ended up 0.5 per cent while the tech-rich Nasdaq added 1.5 per cent. Before the closely-watched data was released, investors had been bracing for a jobs boom, after reports Thursday showed US private employers adding nearly one million positions in May and new unemployment benefits requests falling below 400,000 last week for the first time since the pandemic began. Also Read | US job growth slows sharply in July amid coronavirus resurgence "The key takeaway from the report is that it shows there is still ample room for improvement, which is apt to register in the Fed's mind as a basis for sticking with its patient-minded policy approach," said Briefing.com analyst Patrick O'Hare. Taper fears The highly accommodative monetary policies of the Fed and other central banks have been key drivers of the blockbuster rally in world equities after they cratered at the start of the pandemic. But there have been growing concerns on trading floors that too strong a rebound in the economy will set off a boom in inflation, forcing the Fed to begin to wind down its vast bond-buying program or even lift interest rates to prevent overheating. Also Read | Dollar rises after US jobs come out better than worst expectations CMC Markets analyst Michael Hewson said the jobs figure was "helping to support a view, that for all of the recent talk of a possible central bank retreat of support measures, that any such action was likely to be later rather than sooner." And US central bankers have remained adamant that it is too soon to pull back on the stimulus measures.

In US, equities rebound as dollar falls, job market shows tepid growth

Brazil’s economy added over 400,000 formal jobs in February, the highest monthly figure since the data series began in 1992, led by a surge in the dominant services sector.

World Business Watch: Brazil creates over 400,000 formal jobs in Feb, highest on record

Pope Francis has ordered cardinals to take a 10% pay cut and reduced the salaries of most other clerics working in the Vatican in order to save jobs of employees as the coronavirus pandemic has hit the Holy See's income.&nbsp;

The Vatican said on Wednesday that Francis issued a decree introducing proportional cuts starting on April 1. A spokesman said most lay employees would not be affected by the cuts.&nbsp;

A senior Vatican prelate said it was believed to be the first time in living memory that a pope had taken such action.&nbsp;

Francis, 84, and from a working-class family, has often insisted he does not want to fire people in difficult economic times, even as the Vatican continues to run up deficits.&nbsp;

Cardinals, who work at the Vatican and live there or in Rome, are believed to get salaries of about 4,000 to 5,000 euros ($4,730 to $5,915) a month, and many live in large apartments at well below market rents.&nbsp;

Most priests and nuns, who work in Vatican departments, live in religious communities in Rome, such as seminaries, convents, parishes, universities and schools - giving them greater protection from economic downturns.&nbsp;

They have much lower living expenses than lay employees, such as police, ushers, firefighters, cleaners, art restorers and maintenance personnel, who live in Rome and many of whom have families.&nbsp;

It is these lay workers, who the pope appeared to want to protect, as most of their employment levels were not listed in the papal decree. Vatican pay grades go from levels 1-10 for most employees. Senior positions have four grades, from C to C-3.&nbsp;

Apart from the cardinals, other clerics will see their salaries reduced by between 3% and 8%. Programmed pay rises for all but the three lowest pay grades will be suspended until March 2023.&nbsp;

(With inputs from agencies)&nbsp;

Pope Francis has ordered cardinals to take a 10% pay cut and reduced the salaries of most other clerics working in the Vatican in order to save jobs of employees as the coronavirus pandemic has hit the Holy See's income.

Pope Francis has ordered cardinals to take a 10% pay cut and reduced the salaries of most other clerics working in the Vatican in order to save jobs of employees as the coronavirus pandemic has hit the Holy See's income. The Vatican said on Wednesday that Francis issued a decree introducing proportional cuts starting on April 1. A spokesman said most lay employees would not be affected by the cuts. A senior Vatican prelate said it was believed to be the first time in living memory that a pope had taken such action. Francis, 84, and from a working-class family, has often insisted he does not want to fire people in difficult economic times, even as the Vatican continues to run up deficits. Cardinals, who work at the Vatican and live there or in Rome, are believed to get salaries of about 4,000 to 5,000 euros ($4,730 to $5,915) a month, and many live in large apartments at well below market rents. Most priests and nuns, who work in Vatican departments, live in religious communities in Rome, such as seminaries, convents, parishes, universities and schools - giving them greater protection from economic downturns. They have much lower living expenses than lay employees, such as police, ushers, firefighters, cleaners, art restorers and maintenance personnel, who live in Rome and many of whom have families. It is these lay workers, who the pope appeared to want to protect, as most of their employment levels were not listed in the papal decree. Vatican pay grades go from levels 1-10 for most employees. Senior positions have four grades, from C to C-3. Apart from the cardinals, other clerics will see their salaries reduced by between 3% and 8%. Programmed pay rises for all but the three lowest pay grades will be suspended until March 2023. (With inputs from agencies)

In a first, Pope orders salary cuts for cardinals, to save jobs of employees

As head of India's first dairy farm run by transgender women, Bhoomika has finally found security, having spent years as a beggar after fleeing parents who taunted their sari-wearing son.

The state-backed Transgenders' Milk Producers' Cooperative Society officially opened its doors in the southern Indian state of Tamil Nadu last month, providing 30 trans women each with an individual home, a cow and a shared business venture.

"I begged on the trains for five years. Life was difficult, everyone looked at us in a strange way," Bhoomika, who goes by one name, told the Thomson Reuters Foundation by phone.

Also read:&nbsp;<a href="http://13.235.153.162/india-news/supreme-court-seeks-centres-reply-on-pil-for-equal-protection-of-law-to-transgenders-in-sexual-offences-334757" hreflang="en">Supreme Court seeks Centre's reply on PIL for equal protection of law to transgenders in sexual offences</a>

"We are still treated the same outside the dairy farm but inside I am able to lead a normal life, a life of dignity. I feel I belong," the 28-year-old said from the farm in Manthithoppu village, about 100km south of Madurai city.

The 1.5-acre farm, which sells 180 litres of milk a day, was the brainchild of local official Sandeep Nanduri, who tapped multiple state departments for housing, jobs, training and cash to realise the 17.5 million-rupee ($237,621) project.

It is rare for India's estimated 2 million trans population to find stable homes or incomes, with many forced to beg, dance at weddings or sell sex in the face of widespread discrimination that makes it hard to access education and jobs. [nL8N2FQ38I]

Since India's Supreme Court gave trans people "third gender" recognition in 2014, a growing number of companies have actively hired trans people and adopted more inclusive policies, such as unisex toilets.

Trans people have also received charity and local government funding to start businesses such as take-out biryani rice joints or tattoo parlours, according to local media.

But Nanduri had greater ambitions.

"In the last couple of years, we have helped some trans people with loans to set up small shops but the idea this time was to empower the community ... not just financially, but to make them entrepreneurs," he said.

"They face social exclusion so we kept the farm close to their residential space," said Nanduri, the administrative head of Thoothukudi district.

DIGNITY

Nanduri was spurred into action by a well-known trans activist Grace Banu who had been lobbying local officials for six years - without success - to provide housing for trans women in the port city of Thoothukudi, where she grew up.

Unlike most trans women in India, Banu earned an engineering degree and now works as a mobile app developer in Chennai, and is a leader in the trans community.

"Housing is our biggest problem. If we rent homes, the owners treat us poorly and if we speak up, they ask us to vacate the house with no notice," said Banu.

Also read:&nbsp;<a href="http://13.235.153.162/world/transgender-mans-dream-of-joining-us-military-thwarted-for-now-334902" hreflang="en">Transgender man's dream of joining US military thwarted for now</a>

In just over a year, Nanduri arranged loans for the women to buy cows and enlisted government agencies that taught them how to farm and built cattle sheds on the site, along with neat rows of green and turquoise, one-room homes.

"He was the first person to treat us with respect... he put in all the effort to meet our demand," said Banu.

"That is why we named our housing colony after him. We call it Sandeep Nagar," she said. The term nagar is often used to denote a town in India.

The women are paid by the litre and earn about 8,000 rupees ($109) each per month supplying milk to Tamil Nadu's biggest milk producers' union Aavin, which buys from about 170 farms in Thoothukudi.

"They are doing well compared to other dairies as they work as a community ... they are attached emotionally and live together as a family," said Santha Kumar, manager with Aavin's procurement department.

"The fat content is 4.1%, better than the average fat content of 3.9% fat that we get, which means the cattle is being fed well and the quality of milk is good."

Bhoomika is confident the farm will continue to flourish, with plans afoot to add more cows and members.

When a local villager offered to buy her cow, she refused.

"This business has given us dignity," she said. "We have been trusted with this work and we don't want to break that."

As head of India's first dairy farm run by transgender women, Bhoomika has finally found security, having spent years as a beggar after fleeing parents who taunted their sari-wearing son.

As head of India's first dairy farm run by transgender women, Bhoomika has finally found security, having spent years as a beggar after fleeing parents who taunted their sari-wearing son. The state-backed Transgenders' Milk Producers' Cooperative Society officially opened its doors in the southern Indian state of Tamil Nadu last month, providing 30 trans women each with an individual home, a cow and a shared business venture. "I begged on the trains for five years. Life was difficult, everyone looked at us in a strange way," Bhoomika, who goes by one name, told the Thomson Reuters Foundation by phone. Also read: Supreme Court seeks Centre's reply on PIL for equal protection of law to transgenders in sexual offences "We are still treated the same outside the dairy farm but inside I am able to lead a normal life, a life of dignity. I feel I belong," the 28-year-old said from the farm in Manthithoppu village, about 100km south of Madurai city. The 1.5-acre farm, which sells 180 litres of milk a day, was the brainchild of local official Sandeep Nanduri, who tapped multiple state departments for housing, jobs, training and cash to realise the 17.5 million-rupee ($237,621) project. It is rare for India's estimated 2 million trans population to find stable homes or incomes, with many forced to beg, dance at weddings or sell sex in the face of widespread discrimination that makes it hard to access education and jobs. [nL8N2FQ38I] Since India's Supreme Court gave trans people "third gender" recognition in 2014, a growing number of companies have actively hired trans people and adopted more inclusive policies, such as unisex toilets. Trans people have also received charity and local government funding to start businesses such as take-out biryani rice joints or tattoo parlours, according to local media. But Nanduri had greater ambitions. "In the last couple of years, we have helped some trans people with loans to set up small shops but the idea this time was to empower the community ... not just financially, but to make them entrepreneurs," he said. "They face social exclusion so we kept the farm close to their residential space," said Nanduri, the administrative head of Thoothukudi district. DIGNITY Nanduri was spurred into action by a well-known trans activist Grace Banu who had been lobbying local officials for six years - without success - to provide housing for trans women in the port city of Thoothukudi, where she grew up. Unlike most trans women in India, Banu earned an engineering degree and now works as a mobile app developer in Chennai, and is a leader in the trans community. "Housing is our biggest problem. If we rent homes, the owners treat us poorly and if we speak up, they ask us to vacate the house with no notice," said Banu. Also read: Transgender man's dream of joining US military thwarted for now In just over a year, Nanduri arranged loans for the women to buy cows and enlisted government agencies that taught them how to farm and built cattle sheds on the site, along with neat rows of green and turquoise, one-room homes. "He was the first person to treat us with respect... he put in all the effort to meet our demand," said Banu. "That is why we named our housing colony after him. We call it Sandeep Nagar," she said. The term nagar is often used to denote a town in India. The women are paid by the litre and earn about 8,000 rupees ($109) each per month supplying milk to Tamil Nadu's biggest milk producers' union Aavin, which buys from about 170 farms in Thoothukudi. "They are doing well compared to other dairies as they work as a community ... they are attached emotionally and live together as a family," said Santha Kumar, manager with Aavin's procurement department. "The fat content is 4.1%, better than the average fat content of 3.9% fat that we get, which means the cattle is being fed well and the quality of milk is good." Bhoomika is confident the farm will continue to flourish, with plans afoot to add more cows and members. When a local villager offered to buy her cow, she refused. "This business has given us dignity," she said. "We have been trusted with this work and we don't want to break that."

'I feel I belong': India's first trans-run dairy farm brings jobs and respect

Robots will destroy 85 million jobs at mid-sized to large businesses over the next five years as the COVID-19 pandemic quickens changes in the workplace likely to exaggerate inequalities. Watch report.

COVID-19 pandemic speeds labour shift from Humans to robots

The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll on the labour market, even with the government’s huge jobs protection scheme still in place.

Led by a record plunge in self-employed workers, there were 220,000 less people employed in the second quarter, the Office for National Statistics said.

Separate tax data for July showed that the number of staff on company payrolls had fallen by 730,000 since March, sounding the alarm about a potentially much bigger rise in joblessness.

Mounting job losses are expected as Britain winds down its job retention scheme which protects employees. It is due to close at the end of October.

<a href="https://www.wionews.com/world/boris-johnson-to-ask-schools-to-reopen-by-september-reports-319158">Also read|&nbsp;Boris Johnson to ask schools to reopen by September: Reports</a>

“The cracks evident in the latest batch of labour market data are likely to soon turn into a chasm,” said Ruth Gregory, senior economist at Capital Economics.

British finance minister Rishi Sunak said the figures showed the government’s support programmes were working but job losses were inevitable.

“I’ve always been clear that we can’t protect every job, but ... we have a clear plan to protect, support and create jobs to ensure that nobody is left without hope,” he said.

The unemployment rate unexpectedly held at 3.9 per cent but that reflected an increase in people who had given up looking for work and who were therefore not considered to be unemployed, and people who said they were in work but were getting no pay.

<a href="https://www.wionews.com/videos/uk-pm-boris-johnson-announces-additional-funding-for-nhs-314088">Also watch|&nbsp;UK PM Boris Johnson announces additional funding for NHS</a>

Economists polled by Reuters had expected the unemployment rate to rise to 4.2 per cent. Last week the Bank of England forecast the jobless rate would hit 7.5 per cent at the end of this year.

“Government needs to step in and help those who are likely to lose their job retrain for new openings in different sectors,” KPMG economist Yael Selfin said.

The number of self-employed people fell by a record amount in the three months to June, led by older workers, while the number of employees rose - something the ONS said was partly accounted for by workers reclassifying themselves as employed.

The number of people claiming universal credit - a benefit for the unemployed and those on low pay - rose to 2.689 million in July, leaping by 117 per cent from March.

Pay fell by the most in more than 10 years in the April-June period, down 1.2 per cent, reflecting how workers on the job retention scheme receive 80 per cent of their pay. Excluding bonuses, pay fell for the first time since records began in 2001.

However, there was a small increase in job vacancies in the three months to July.

“The increase was driven by small businesses (less than 50 employees), some of which reported taking on staff to meet coronavirus (COVID-19) guidelines,” the ONS said.

The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll on the labour market, even with the government’s huge jobs protection scheme still in place.

The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll on the labour market, even with the government’s huge jobs protection scheme still in place. Led by a record plunge in self-employed workers, there were 220,000 less people employed in the second quarter, the Office for National Statistics said. Separate tax data for July showed that the number of staff on company payrolls had fallen by 730,000 since March, sounding the alarm about a potentially much bigger rise in joblessness. Mounting job losses are expected as Britain winds down its job retention scheme which protects employees. It is due to close at the end of October. Also read| Boris Johnson to ask schools to reopen by September: Reports “The cracks evident in the latest batch of labour market data are likely to soon turn into a chasm,” said Ruth Gregory, senior economist at Capital Economics. British finance minister Rishi Sunak said the figures showed the government’s support programmes were working but job losses were inevitable. “I’ve always been clear that we can’t protect every job, but ... we have a clear plan to protect, support and create jobs to ensure that nobody is left without hope,” he said. The unemployment rate unexpectedly held at 3.9 per cent but that reflected an increase in people who had given up looking for work and who were therefore not considered to be unemployed, and people who said they were in work but were getting no pay. Also watch| UK PM Boris Johnson announces additional funding for NHS Economists polled by Reuters had expected the unemployment rate to rise to 4.2 per cent. Last week the Bank of England forecast the jobless rate would hit 7.5 per cent at the end of this year. “Government needs to step in and help those who are likely to lose their job retrain for new openings in different sectors,” KPMG economist Yael Selfin said. The number of self-employed people fell by a record amount in the three months to June, led by older workers, while the number of employees rose - something the ONS said was partly accounted for by workers reclassifying themselves as employed. The number of people claiming universal credit - a benefit for the unemployed and those on low pay - rose to 2.689 million in July, leaping by 117 per cent from March. Pay fell by the most in more than 10 years in the April-June period, down 1.2 per cent, reflecting how workers on the job retention scheme receive 80 per cent of their pay. Excluding bonuses, pay fell for the first time since records began in 2001. However, there was a small increase in job vacancies in the three months to July. “The increase was driven by small businesses (less than 50 employees), some of which reported taking on staff to meet coronavirus (COVID-19) guidelines,” the ONS said.

UK suffers biggest job losses since 2009 as COVID hits

After months&nbsp;of&nbsp;lockdown, the UK economy has reopened and the locals are hoping that the British government will be able to bring the country out of the stagnancy and the downward spiral of the economy.

British Finance Minister Rishi Sunak is urging people to 'eat out to help out'. He feels this will help the economy by generating revenue and more jobs.

To encourage people to dine out, the British government has announced a new dining discount plan that will give people a 50 per cent discount at participating restaurants, cafes and pubs between Monday and Wednesday up to a maximum £10 per person in the month of August.

<a href="https://www.wionews.com/world/united-kingdom-lodges-more-cases-of-child-sexual-abuse-during-lockdown-311679">Also read:&nbsp;United Kingdom lodges more cases of child sexual abuse during lockdown</a>

In addition to this, Sunak has assured people that he will do everything he can to bring the economy out of the downward spiral by October.&nbsp;

The UK has not seen a sharp increase in the unemployment rate, when compared to other countries. The main reason behind this has been the British government's 'Job Retention Scheme', whereby the government has been paying the majority of the salaries of workers who were not fired.

<a href="https://www.wionews.com/videos/uk-car-sales-post-smaller-slump-in-june-311280">Also watch:&nbsp;UK car sales post smaller slump in June</a>

As per the reports, nearly 1.1 million employers have taken advantage of the program, which has costed the government nearly £27.4 billion ($35 billion).

Now the British government will be&nbsp;introducing a new program under which the government will pay the companies&nbsp;£1,000 bonus for hiring back each employee who was furloughed. This can cost the government an additional&nbsp;£9.4 billion.

The government is hoping to protect as well as generate as many jobs as possible&nbsp;during the recession. "People need to know that although hardship lies ahead, no-one will be left without hope," he told the lawmakers.

"Leaving the furlough scheme open forever gives people false hope that it will always be possible to return to the jobs they had before," he said. "The longer people are on furlough, the more likely it is their skills could fade, and they will find it harder to get new opportunities."&nbsp;

Sunak is hoping these programs and discounts will help the UK economy out of recession, after it shrank 25 per cent. Many economists think unemployment could more than double to over 3 million this year, to levels last seen in the 1980s.

(With inputs from agencies)

After months of lockdown, the UK economy has reopened and the locals are hoping that the British government will be able to bring the country out of the stagnancy and the downward spiral of the economy.

After months of lockdown, the UK economy has reopened and the locals are hoping that the British government will be able to bring the country out of the stagnancy and the downward spiral of the economy. British Finance Minister Rishi Sunak is urging people to 'eat out to help out'. He feels this will help the economy by generating revenue and more jobs. To encourage people to dine out, the British government has announced a new dining discount plan that will give people a 50 per cent discount at participating restaurants, cafes and pubs between Monday and Wednesday up to a maximum £10 per person in the month of August. Also read: United Kingdom lodges more cases of child sexual abuse during lockdown In addition to this, Sunak has assured people that he will do everything he can to bring the economy out of the downward spiral by October. The UK has not seen a sharp increase in the unemployment rate, when compared to other countries. The main reason behind this has been the British government's 'Job Retention Scheme', whereby the government has been paying the majority of the salaries of workers who were not fired. Also watch: UK car sales post smaller slump in June As per the reports, nearly 1.1 million employers have taken advantage of the program, which has costed the government nearly £27.4 billion ($35 billion). Now the British government will be introducing a new program under which the government will pay the companies £1,000 bonus for hiring back each employee who was furloughed. This can cost the government an additional £9.4 billion. The government is hoping to protect as well as generate as many jobs as possible during the recession. "People need to know that although hardship lies ahead, no-one will be left without hope," he told the lawmakers. "Leaving the furlough scheme open forever gives people false hope that it will always be possible to return to the jobs they had before," he said. "The longer people are on furlough, the more likely it is their skills could fade, and they will find it harder to get new opportunities." Sunak is hoping these programs and discounts will help the UK economy out of recession, after it shrank 25 per cent. Many economists think unemployment could more than double to over 3 million this year, to levels last seen in the 1980s. (With inputs from agencies)

Take-away and 'job retention scheme' to save the UK economy

With growing number of Coronavirus cases, employees across the world have been asked to adopt 'work from home' model. Here are eight tips that will make you stay on top of your game while you work from home making it easy yet productive.

8 Tips to Make Work from Home Easy and Productive

Investors in India's equity markets have a reason to cheer today. The benchmark indices scaled new peaks. But the economy is sputtering. Palki Sharma summarises the state of the Indian economy with five key indicators.

Gravitas: Summarising the state of the Indian economy

Now it's a time when India needs immediate steps to reverse its economic slowdown. The slowdown in India as expected take a huge toll on jobs. The report has also come at a time when the global retailing giant Wallmart and Indian startup sensation OYO laying off employees.

Job creation down by 1.6MN in FY20

India, which is projected to be the world’s youngest country by the next year, encompasses the world’s largest youth population with 356 million people in the age group of 10-25 years [United Nations report (2014)]. This large section of the tertiary-age population provides our country with an exclusive demographic advantage. According to a report, there is an overall positive trend in talent supply as over 47.68 per cent of the graduates were found to be employable in 2019 against only 33 per cent in 2014 [India Skills Report (2019) released by the Confederation of Indian Industries].&nbsp;

However, despite these promising statistics and unique demographic dividend, a major segment of the Indian graduates still remain unemployable.

The youth in our country face multiple obstacles to find desirable and suitable job opportunities analogous to their educational qualifications. It is quite ironical that higher educational institutions/academia across the country are training millions of youth annually but the industry often complaints about the inadequacy of necessary skills among them desired for a suitable job. On the contrary, academia and industry also point fingers at the government for ineffective implementation of policies and sometimes even deficiency of government initiatives for a higher education system similar to global standards.

With the increase in the number of graduates and working population annually, employability and skilling have become two of the biggest challenges for the country’s growth. The Central Government in order to face the two challenges has proposed various youth-centric programmes and schemes. For instance, the National Rural Employment Guarantee Scheme, National Skill Development Mission, Udaan, Pradhan Mantri Kaushal Vikas Yojana, Entrepreneurship Development Programme and Skills Strengthening for Industrial Value Enhancement among several others. In addition, recently, in 2014, the State Government of Andhra Pradesh to make its state as ‘knowledge and skills hub’ and promote ‘skill development and entrepreneurship’ had started Andhra Pradesh State Skill Development Corporation (APSSDC).&nbsp;

The APSSDC under its regime and to impart skill development trainings and taking up job facilitation had developed various programs for schools and degree students (imparting training in English/Soft skills and IT computational thinking, certification courses in finance/accounting etc.), engineering students (IT/certification courses in engineering colleges, day-long workshops, etc.) and international programmes for such students (setting up training centers to provide industry-relevant, placement training in colleges, etc.)&nbsp;

These initiatives and schemes as proposed by the Central Government indicate its assurance of fulfilment of certain principles envisaged under the Directive Principles of the State Policy (Part IV of the Constitution of India). The Government including the State Governments have indeed played an active role in eliminating inequalities in facilities and opportunities amongst the people engaged in different vocations. However, in order to face the conundrum of employability amongst the young graduates, it is vital to contrive specific strategies that bridge the gap between employability preferences and labour market realities. Nonetheless, it would also be unrealistic to expect the Central Government to overcome this challenge without solidarity from the states. It is essential that the industry and academia work in a symbiotic relationship with the various government agencies and their departments to explore this demographic divided.

Another aspect that becomes imperative while the Indian economy undergoes swift and concurrent economic, demographic, social and technological shifts, is to ascertain how best the academic curriculum can address various necessities and demands of the dynamic industry and the economy. The Government in cooperation with academia may look at the existing curriculum and assess if the same can be made more practical and flexible in approach accommodating the shifts within the industry. For instance, to improve standards of higher education in India in tune with the transforming the needs of the industry and market, the All India Council for Technical Education (AICTE) has taken various initiatives including the revision of curriculum on regular basis. AICTE has instructed all the higher education institutes across India to revise their curriculum every three years.

Notwithstanding the role of the government in providing basic education and training, there is also a significant need for greater involvement of the private sector or the industry in increasing employability amongst the graduates. Since the private sector plays a pivotal role in contributing a significant portion in India’s GDP, it becomes vital for the private sector to contribute towards employability of the youth in the country. A combination of economic, business and technology factors have led to a steady rise in synergistic partnerships between the industry and academia in many countries like Canada, Singapore, UK, USA and few others for several years. Given the dynamic nature of business today, enterprises collaborate with the universities for providing continuous training to their employees across disciplines. This ensures that their employees have a contemporary understanding of the best practices in their field of work, while also promoting employee satisfaction. On the other hand, universities carry this understanding of the needs of the corporate sector and incorporate the same into their academic curriculum. For universities, this is a critical way in which they can create comprehensive coursework that is exceeding relevant in the job market today.

In India, the serious issue has been that the higher education sector and the industrial sector have worked in isolation from each other. On one hand, the industry needs talent and on the other, there is an abundance of graduates who do not have industry-oriented skills. In countries like the US, corporates reach out to universities/institutions to bring innovation into their work, while in India, corporates and industry bodies rely mostly on their own research rather than reaching out to academia. However, India has experienced a change in its approach recently. Various corporates and academia are taking a step forward to build a cordial relationship. For instance, HDFC Bank, as a part of its industry-academia partnership, has announced its plan to partner 50 technology companies and business schools to tap emerging fintech ideas starting with IIT-Bombay and IIT-Roorkee. The Ministry of Human Resource and Development (MHRD) has increased its funding to IIT-Madras by nearly Rs. 300 crore to encourage innovation and strengthen the industry-academia relationship. A few trade associations representing the Indian ESDM (Electronic System Design and Manufacturing) industry have also signed MoUs with institutions to build a robust talent pipeline in the ESDM space.

One of the approaches to tackle the problem of inadequacy in skills and job readiness among youth is by bridging the gap between Government, industry and academia. The second could be that academia, apart from imparting the technical knowledge, should impart training in enhancing softer/interpersonal skills, leadership capability, attitude, communication skills, etc. Moreover, it should inculcate such schemes from primary level in schools. Academia should also include workplace exposure through internships, live projects, corporate interactions in the curriculum and provide credits to the students for the same. Such programmes enable the students to keep pace to the needs of the industry. It would be heartening to see the Government as well as the private sector step forward and work exclusively with the academicians to create and develop a shared model for jobs and curriculum to address the industrial needs so that India can fully utilise the demographic dividend that it possesses.

(Views expressed above are the personal views of the author and do not reflect the views of ZMCL) 
&nbsp;

India, which is projected to be the world’s youngest country by the next year, encompasses the world’s largest youth population with 356 million people in the age group of 10-25 years [United Nations report (2014)].

India, which is projected to be the world’s youngest country by the next year, encompasses the world’s largest youth population with 356 million people in the age group of 10-25 years [United Nations report (2014)]. This large section of the tertiary-age population provides our country with an exclusive demographic advantage. According to a report, there is an overall positive trend in talent supply as over 47.68 per cent of the graduates were found to be employable in 2019 against only 33 per cent in 2014 [India Skills Report (2019) released by the Confederation of Indian Industries]. However, despite these promising statistics and unique demographic dividend, a major segment of the Indian graduates still remain unemployable. The youth in our country face multiple obstacles to find desirable and suitable job opportunities analogous to their educational qualifications. It is quite ironical that higher educational institutions/academia across the country are training millions of youth annually but the industry often complaints about the inadequacy of necessary skills among them desired for a suitable job. On the contrary, academia and industry also point fingers at the government for ineffective implementation of policies and sometimes even deficiency of government initiatives for a higher education system similar to global standards. With the increase in the number of graduates and working population annually, employability and skilling have become two of the biggest challenges for the country’s growth. The Central Government in order to face the two challenges has proposed various youth-centric programmes and schemes. For instance, the National Rural Employment Guarantee Scheme, National Skill Development Mission, Udaan, Pradhan Mantri Kaushal Vikas Yojana, Entrepreneurship Development Programme and Skills Strengthening for Industrial Value Enhancement among several others. In addition, recently, in 2014, the State Government of Andhra Pradesh to make its state as ‘knowledge and skills hub’ and promote ‘skill development and entrepreneurship’ had started Andhra Pradesh State Skill Development Corporation (APSSDC). The APSSDC under its regime and to impart skill development trainings and taking up job facilitation had developed various programs for schools and degree students (imparting training in English/Soft skills and IT computational thinking, certification courses in finance/accounting etc.), engineering students (IT/certification courses in engineering colleges, day-long workshops, etc.) and international programmes for such students (setting up training centers to provide industry-relevant, placement training in colleges, etc.) These initiatives and schemes as proposed by the Central Government indicate its assurance of fulfilment of certain principles envisaged under the Directive Principles of the State Policy (Part IV of the Constitution of India). The Government including the State Governments have indeed played an active role in eliminating inequalities in facilities and opportunities amongst the people engaged in different vocations. However, in order to face the conundrum of employability amongst the young graduates, it is vital to contrive specific strategies that bridge the gap between employability preferences and labour market realities. Nonetheless, it would also be unrealistic to expect the Central Government to overcome this challenge without solidarity from the states. It is essential that the industry and academia work in a symbiotic relationship with the various government agencies and their departments to explore this demographic divided. Another aspect that becomes imperative while the Indian economy undergoes swift and concurrent economic, demographic, social and technological shifts, is to ascertain how best the academic curriculum can address various necessities and demands of the dynamic industry and the economy. The Government in cooperation with academia may look at the existing curriculum and assess if the same can be made more practical and flexible in approach accommodating the shifts within the industry. For instance, to improve standards of higher education in India in tune with the transforming the needs of the industry and market, the All India Council for Technical Education (AICTE) has taken various initiatives including the revision of curriculum on regular basis. AICTE has instructed all the higher education institutes across India to revise their curriculum every three years. Notwithstanding the role of the government in providing basic education and training, there is also a significant need for greater involvement of the private sector or the industry in increasing employability amongst the graduates. Since the private sector plays a pivotal role in contributing a significant portion in India’s GDP, it becomes vital for the private sector to contribute towards employability of the youth in the country. A combination of economic, business and technology factors have led to a steady rise in synergistic partnerships between the industry and academia in many countries like Canada, Singapore, UK, USA and few others for several years. Given the dynamic nature of business today, enterprises collaborate with the universities for providing continuous training to their employees across disciplines. This ensures that their employees have a contemporary understanding of the best practices in their field of work, while also promoting employee satisfaction. On the other hand, universities carry this understanding of the needs of the corporate sector and incorporate the same into their academic curriculum. For universities, this is a critical way in which they can create comprehensive coursework that is exceeding relevant in the job market today. In India, the serious issue has been that the higher education sector and the industrial sector have worked in isolation from each other. On one hand, the industry needs talent and on the other, there is an abundance of graduates who do not have industry-oriented skills. In countries like the US, corporates reach out to universities/institutions to bring innovation into their work, while in India, corporates and industry bodies rely mostly on their own research rather than reaching out to academia. However, India has experienced a change in its approach recently. Various corporates and academia are taking a step forward to build a cordial relationship. For instance, HDFC Bank, as a part of its industry-academia partnership, has announced its plan to partner 50 technology companies and business schools to tap emerging fintech ideas starting with IIT-Bombay and IIT-Roorkee. The Ministry of Human Resource and Development (MHRD) has increased its funding to IIT-Madras by nearly Rs. 300 crore to encourage innovation and strengthen the industry-academia relationship. A few trade associations representing the Indian ESDM (Electronic System Design and Manufacturing) industry have also signed MoUs with institutions to build a robust talent pipeline in the ESDM space. One of the approaches to tackle the problem of inadequacy in skills and job readiness among youth is by bridging the gap between Government, industry and academia. The second could be that academia, apart from imparting the technical knowledge, should impart training in enhancing softer/interpersonal skills, leadership capability, attitude, communication skills, etc. Moreover, it should inculcate such schemes from primary level in schools. Academia should also include workplace exposure through internships, live projects, corporate interactions in the curriculum and provide credits to the students for the same. Such programmes enable the students to keep pace to the needs of the industry. It would be heartening to see the Government as well as the private sector step forward and work exclusively with the academicians to create and develop a shared model for jobs and curriculum to address the industrial needs so that India can fully utilise the demographic dividend that it possesses. (Views expressed above are the personal views of the author and do not reflect the views of ZMCL)

Bridging the skill gap in India

The number of people in employment rose by 24,000 to 32.8 million in the August-to-October period, bucking the median forecast for a drop of 10,000 in a Reuters poll of economists.

The employment rate hit an all-time high of 76.2 per cent&nbsp;while the unemployment rate fell back to its lowest level since the three months to January 1975 at 3.8 per cent.

"The larger-than-expected rise in employment in October suggests the labour market is not getting any worse and may have even started to turn around," said Andrew Wishart at Capital Economics.

The increase in jobs was driven by a rise in the number of self-employed workers and full-time staff, while the number of part-time employees fell.

British government bond prices fell by a small amount as investors viewed the chance of a Bank of England interest rate cut next year as slightly lower.

Britain's labour market has stayed strong even as the economy slowed following the 2016 referendum vote to leave the European Union. That is due in part to employers, who are uncertain about what Brexit will bring, hiring staff who can be laid off easily rather than making longer-term commitments to invest in equipment.

But there had been signs recently that the jobs boom was weakening. These prompted two interest-rate setters at the Bank of England to vote for a cut to borrowing costs last month, and they are expected to do so again this week.

Prime Minister Boris Johnson last week reduced some of the uncertainty hanging over the economy by winning a big majority in a national election, ending any doubts about whether Britain would <a href="https://www.wionews.com/world/first-stop-brexit-uks-johnson-gets-down-to-work-268636">leave</a> the European Union on the new date of January&nbsp;31.

Watch:&nbsp;UK PM Boris Johnson promises the speedy Brexit, to happen before January 31

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But nerves about Brexit could return soon. Johnson plans to pass a law ruling out any extension of the Brexit transition period beyond the end of 2020, saying he is confident he will clinch a free trade deal with the European Union by then.

There were some signs of caution among employers in Tuesday's data. Vacancies were the lowest since the three months to August 2017 at 794,000.

The Office for National Statistics also said average <a href="https://www.wionews.com/business-economy/sterling-rebounds-on-eve-of-uk-election-267749">earnings rose</a> by an annual 3.2 per cent, the weakest increase in more than a year and slowing sharply from growth of 3.7 per cent&nbsp;in the three months to September. The ONS attributed much of the slowdown, however, to high bonus payments in October 2018 which distorted the comparison.

Excluding bonuses, pay growth slowed less sharply to 3.5 per cent&nbsp;from 3.6 per cent&nbsp;in the three months to September and was above the polls forecast of 3.4 per cent.

The number of people in employment rose by 24,000 to 32.8 million in the August-to-October period, bucking the median forecast for a drop of 10,000 in a Reuters poll of economists.

The number of people in employment rose by 24,000 to 32.8 million in the August-to-October period, bucking the median forecast for a drop of 10,000 in a Reuters poll of economists. The employment rate hit an all-time high of 76.2 per cent while the unemployment rate fell back to its lowest level since the three months to January 1975 at 3.8 per cent. "The larger-than-expected rise in employment in October suggests the labour market is not getting any worse and may have even started to turn around," said Andrew Wishart at Capital Economics. The increase in jobs was driven by a rise in the number of self-employed workers and full-time staff, while the number of part-time employees fell. British government bond prices fell by a small amount as investors viewed the chance of a Bank of England interest rate cut next year as slightly lower. Britain's labour market has stayed strong even as the economy slowed following the 2016 referendum vote to leave the European Union. That is due in part to employers, who are uncertain about what Brexit will bring, hiring staff who can be laid off easily rather than making longer-term commitments to invest in equipment. But there had been signs recently that the jobs boom was weakening. These prompted two interest-rate setters at the Bank of England to vote for a cut to borrowing costs last month, and they are expected to do so again this week. Prime Minister Boris Johnson last week reduced some of the uncertainty hanging over the economy by winning a big majority in a national election, ending any doubts about whether Britain would leave the European Union on the new date of January 31. Watch: UK PM Boris Johnson promises the speedy Brexit, to happen before January 31 × But nerves about Brexit could return soon. Johnson plans to pass a law ruling out any extension of the Brexit transition period beyond the end of 2020, saying he is confident he will clinch a free trade deal with the European Union by then. There were some signs of caution among employers in Tuesday's data. Vacancies were the lowest since the three months to August 2017 at 794,000. The Office for National Statistics also said average earnings rose by an annual 3.2 per cent, the weakest increase in more than a year and slowing sharply from growth of 3.7 per cent in the three months to September. The ONS attributed much of the slowdown, however, to high bonus payments in October 2018 which distorted the comparison. Excluding bonuses, pay growth slowed less sharply to 3.5 per cent from 3.6 per cent in the three months to September and was above the polls forecast of 3.4 per cent.

UK jobs growth resumes, unemployment rate near 45-year low

US job creation soared last month as hospitals, hotels and schools raced to add new workers, wiping away fears that November would be a lackluster month, according to a key government report Friday.

Payrolls also got a boost as autoworkers were back on the job after a six-week nationwide strike at General Motors plants, according to the Labor Department.

The surprise hiring burst is sure to delight President Donald Trump as he faces impeachment and a bitter reelection campaign.

US firms added a massive 266,000 net new positions, shattering economists' expectations, while the jobless rate fell a tenth of a point to 3.5 per cent, mainly because of a small decline in the workforce

Job gains in September and October also were revised upward by a total of 41,000, underscoring the strength of labor markets.

Economists in recent days had begun to worry that America's appetite for workers was on the wane, as some signs pointed to slackening demand for labor as well as a dwindling supply of workers.

But the continued hiring bonanza should bolster the Federal Reserve's decision to keep the benchmark interest rate stable after three cuts this year, with central bankers believing more stimulus is unnecessary.

Job creation has slowed this year, however, as employers on average have added 180,000 workers a month, down from the 223,000 average monthly gains in 2018.

Wages crept higher in November but more slowly than forecast.

Meanwhile, the dip in the jobless rate came with a drop in labor force as people left the job hunt or retired.

&nbsp;

US job creation soared last month as hospitals, hotels and schools raced to add new workers, wiping away fears that November would be a lackluster month, according to a key government report Friday.

US job creation soared last month as hospitals, hotels and schools raced to add new workers, wiping away fears that November would be a lackluster month, according to a key government report Friday. Payrolls also got a boost as autoworkers were back on the job after a six-week nationwide strike at General Motors plants, according to the Labor Department. The surprise hiring burst is sure to delight President Donald Trump as he faces impeachment and a bitter reelection campaign. US firms added a massive 266,000 net new positions, shattering economists' expectations, while the jobless rate fell a tenth of a point to 3.5 per cent, mainly because of a small decline in the workforce Job gains in September and October also were revised upward by a total of 41,000, underscoring the strength of labor markets. Economists in recent days had begun to worry that America's appetite for workers was on the wane, as some signs pointed to slackening demand for labor as well as a dwindling supply of workers. But the continued hiring bonanza should bolster the Federal Reserve's decision to keep the benchmark interest rate stable after three cuts this year, with central bankers believing more stimulus is unnecessary. Job creation has slowed this year, however, as employers on average have added 180,000 workers a month, down from the 223,000 average monthly gains in 2018. Wages crept higher in November but more slowly than forecast. Meanwhile, the dip in the jobless rate came with a drop in labor force as people left the job hunt or retired.

US adds 266,000 jobs in November, unemployment falls to 3.5%

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