Unemployment
October 6, 2016
Foxbots in China Last year Foxconn chairman had said that he would use 1 million robots to replace most of the workers in his numerous factories […]
September 29, 2016
1 Robot to replace 100 Workers India is inducting around millions of workers into the ranks of job seekers every month with its burgeoning population which […]
September 21, 2013
Availability of Cheap Labor and Technological Advancement leads to Joblessness Labor around the world has got squeezed by multiple forces beyond its control. The relentless and […]
March 25, 2013
It is a known fact that India is currently ranked as the 10th largest economy in the world. There was much speculation since 2002 about the […]
March 25, 2013
Global Unemployment The phenomenon of growing unemployment across the world has become a regular feature across daily news stories. This is not restricted to one nation […]
February 26, 2013
As India grows more prosperous and more citizens get educated, the country is facing a major problem. While every country would kill for millions of graduates […]
February 12, 2013
Growth vs. Inflation The controversial inflation-growth trade-off has been widely researched upon, both theoretically and empirically since the conception of the Phillips Curve which elucidates the […]
January 31, 2013
Financial Policy of Retail Sector of US Companies The deterioration in economic conditions that began in 2007 affected the business across all sectors; and the retail […]
October 31, 2012
Global Economy Slowdown Despite multiple rounds of monetary easing by the global central banks and zero interest rates, the global economy continues to slow down. Top […]
July 18, 2012
Overpopulation and Increased Lifespan This current day situation is taking an increasing toll on people graduating from colleges in the West. There are enough statistics to […]
May 30, 2012
The New Normal which marked low to negative economic growth,high unemployment in developed countries of the West began after the Lehman Crash in 2008. It has […]
May 25, 2012
Structural Unemployment has become a big problem in developed countries where middle class jobs are being permanently destroyed. The advent of modern communications and technology has […]
January 14, 2012
Australia & New Zealand Banking Group , is going to cut 900 jobs are the Australian real estate market slumps. Financial Jobs are facing a carnage with banks cutting down left , right and centre .ANZ which is one of the 4 largest banks in Australia joins its couterparts around the world in sharply cutting banker jobs as the global slowdown bits the financial industry. Note the outlook in the Financial Industry is that of a Depression even as the world economy faces some hiccups from the European Debt Crisis . Real Estate Markets have been distorted globally by bad regulation , low interest rates etc. While China is seeing the first signs of a troubled real estate market, USA has been feeling the effects since the last 3-4 years. Australia has also joined in with the popping of the real estate bubble. Alongwith construction and real estate companies , financial companies who make the real estate mortgages are the worst hit in general.
January 9, 2012
Bank of America had already announced thousands of job cuts earlier.Today it cut 20% of its Asian MDs as it tries to cope with the sinking of investment banking revenues.Other investment banks like RBS,Nomura,BNP Paribas,Societe Generale are also cutting jobs with a vengeance.Goldman Sachs also announced big time salary cuts for its partners and fixed income trading.
January 5, 2012
Seeing Stocks Markets these days would make one think that the world economy has managed surpass the problems of the European Union Debt Crisis,the slowing of China,India's governance led slowdown etc.However big global companies continue to bunker down reducing job headcount and reducing investment.Despite record levels of cash and big profits,MNCs are not increasing their investment giving a thumbs down to efforts by policymakers to boost growth through record low interest rates.RBS has been rumored to cut 10,000 jobs in its investment banking division while Pepsi which has a mostly recession proof business too is cutting down.India's beleagured airline Kingfisher is set to cut 2000 jobs as well.
June 30, 2011
China has increased the tax exemption limits for urban workers by 80% to $540 a month as soaring inflation and rising income inequalities has reached dangerous levels.Note increasing corruption and vast income inequalities have led to increasing incidences of violence and riots in the country.The prices of essential commodities like food and fuel have been increasing rapidly like in the rest of the developing world.Despite the central bank increasing interest rates,the prices have hardly moderated.Pork prices have touched new records making the life of the poorest quite unbearable.Note Gini's coefficient in China has reached 0.47 which is very high.While economic prosperity has increased,a vast section of the population remains poor.This is apparent in the fact that only 24 million workers out of 300 million urban workers earn more than $6500 per year .
March 4, 2011
Income Inequality and unemployment amongst white collar workers is a massive growing under-appreciated problem in India and China.These countries despite growing tremendously have built in severe distortions which are only becoming bigger by the day.Graduates in both countries increasingly find a massive demand deficit for their services while income inequality grows bigger as billionaires build billion dollar houses amidst people earning less than $2 day.
February 7, 2011
India's Fast 8-9% GDP Growth has become the envy of the developed world groping with anemic growth rates of 1-2% and rising sovereign debt burdens.Asia led by India and China are the new engines of growth of the global economy.However a close examination of the growth shows the rising strains and inequality.Most of the growth in India has been a jobless one with capital intensive sectors leading the way.While some service sectors like the IT and BPO Industry have also grown at a rapid pace,it has only affected a minuscule portion of the Indian population.The rest continue to wallow in misery and poverty which is reflected in the growth of Naxalism.India's education infrastructure is quite woeful with majority of graduates unemployable.This has led to a growing army of unemployed half education youth fighting to get low end jobs.Unlike China,India's industry forms just 30% of India's GDP and majority are still employed in agriculture.Most of India's service industry too constitutes of low value add,low paying jobs.With growing communication and information,the few good low end jobs on offer leads to a desperate jostling.Public sector jobs in railways,paramilitary are especially lucrative offering job security and a decent social position.This has led to increasing clashes.