The Indian Rupee hit all-time lows of 83.4550 this week on a strong US Dollar and FII outflows. The Dollar index has strengthened 2.87% YTD while FII outflows stood at Rs 52,461 crores YTD. Elevated gold and crude oil prices due to heightened geopolitical tensions in the Middle East and between Ukraine and Russia also … Read more
The dollar treaded water on Tuesday as investors braced for an highly anticipated inflation report, while the yen strengthened ahead of the expected announcement of surprise pick Kazuo Ueda as the next Bank of Japan governor. Markets are looking to the U.S. consumer price index (CPI) data for further clues on Federal Reserve’s policy outlook, … Read more
Companies are increasingly prioritising skills development rather than offering life-long careers, as technological change drives skills shortages in a post-pandemic world, the CEO of U.S. staffing company ManpowerGroup said. “Employers are not promising a 15-year-long career. But they are promising that when you join that organisation you will develop skills that make you more valuable … Read more
The United Nations on Wednesday said India is expected to grow 6.4% in 2022, well below the 8.8% growth in 2021, as higher inflationary pressures and uneven recovery of the labour market are likely to curb private consumption and investment. It said the global economy is now projected to grow 3.1% in 2022, down from … Read more
Demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) saw an 11.1% dip yearon-year in April, suggesting reduced dependence on the Centre’s flagship rural jobs scheme for livelihood. Data from the MGNREGA website showed work demand from households in April stood at 23.2 million, down from 26,1 million in April 2021. … Read more
WASHINGTON: U.S. consumer confidence fell to a reading of 96.1 in November as rising coronavirus cases pushed American optimism down to the lowest level since August. The November reading released Tuesday by the Conference Board said represents a drop from a revised 101.4 in October. The decline reflected a big drop in consumer expectations for … Read more
Lockdown salary payment outcomes suggest formal enterprises are more resilient than informal enterprises. Synopsis There are three lessons for reforming our dysfunctional labour laws. One, any change must be balanced. Two, any change needs evidence. Three, any change needs openness. India’s labour laws are neither prolabour nor pro-employer. They are pro-labour inspector. So, why don’t … Read more