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Emerging technologies are set to revolutionise India’s workforce and can generate an additional 2.73 million tech jobs by 2028, according to ServiceNow’s AI Skills and Jobs Report. This growth comes amid India’s overall workforce expansion, expected to reach 457.62 million by 2028—a 33.9 million increase since 2023. ServiceNow, through partnerships and its ‘RiseUp’ program, aims to bridge the skills gap, positioning India as a competitive force in the global tech arena. Retail, manufacturing, education, and healthcare are projected to experience robust job creation, with retail alone expected to add 6.96 million roles. Professionals in these sectors have opportunities to upskill in areas such as software development and data engineering. Meanwhile, demand for tech roles like Software Application Developers, Systems Software Developers, and Data Engineers is expected to surge, driven by expanding sectors like manufacturing and telecommunications. Generative AI is also reshaping tasks within tech roles, increasing efficiency and automating routine processes. Systems Administrators, AI Systems Engineers, and Implementation Consultants, for example, will gain hours back each week as AI automates tasks. ServiceNow reports a $5 million cost savings and productivity boost from using generative AI across its operations, illustrating the practical impact of AI-led automation. To build a tech-ready talent pipeline, ServiceNow has been proactive, training over 97,000 Indians through its ‘RiseUp with ServiceNow’ initiative in the past year. The company’s University Academic Program, launched with government partnerships and institutions like NASSCOM’s FutureSkills Prime, is ensuring graduates possess job-ready digital skills, strengthening India’s tech ecosystem. With AI as a critical driver, India is expected to see a significant workforce transformation, meeting both domestic and global demand for skilled tech professionals.

AI can create 2.7 million tech jobs by 2028 in India, study says

Small and medium enterprises (<keyword id="20086849" type="General" weightage="20" keywordseo="SMEs" source="keywords">SMEs</keyword>) are driving a major surge in <keyword id="21881529" type="General" weightage="100" keywordseo="job-applications" source="keywords">job applications</keyword> across key sectors, with more than 35 million job applications recorded in the first eight months of 2024, according to a report by jobs and professional networking platform apna.co. The growth is fueled by rising demand in sectors like BFSI (Banking, Financial Services, and Insurance), BPO (Business Process Outsourcing), and hospitality. The report highlights that the surge in job applications is largely for roles such as Sales &amp; Marketing Managers, Accounting Technicians, Telecallers, Back Office Executives, and Business Development Associates. These positions are critical for the expansion of businesses in these sectors, and the growing demand reflects a strong upward trend in hiring. "SMBs and MSMEs employ more than 110 million people, making them the backbone of our economy. Their success is crucial for our nation's journey towards achieving a USD 5 trillion economy," said Nirmit Parikh, Founder &amp; CEO of apna.co. Parikh emphasised that the demand for skilled workers in these sectors is expected to continue growing, creating vast opportunities for <keyword id="20019820" type="General" weightage="20" keywordseo="job-seekers" source="keywords">job seekers</keyword> across India. <h2>Major growth in Tier-2 and Tier-3 cities</h2>An interesting trend noted in the report is that over 55% of the total job applications for SMB roles came from tier-2 and tier-3 cities, including Jaipur, Indore, Ahmedabad, Lucknow, Kochi, and Bhubaneswar. As businesses expand into these cities, the talent pool is evolving to meet the growing demand, fostering a symbiotic relationship between employers and job seekers. Out of the 35 million job applications received, 14 million came from women, marking a 30% year-on-year increase in female participation. Women are increasingly taking on roles across diverse fields like finance, accounts, marketing, and graphic design, reflecting their rising involvement in the workforce. As SMEs and MSMEs continue to grow, the <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword> they generate are set to further contribute to India’s economic goals, fueling progress toward the USD 5 trillion economy target. (With inputs from PTI)

Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report

<ul class="summary-list"><li>Omada Health's booming weight loss program could push the startup closer to a public market debut.</li><li>The startup says care for GLP-1 patients has become its most popular front door for new customers.</li></ul>Last spring, diabetes startup Omada Health said it wanted to <a target="_blank" class="" href="https://www.businessinsider.com/omada-strategy-weight-loss-drugs-semaglutide-ozempic-2023-5">help employers manage patients taking a blockbuster new class of weight-loss drugs</a>.A year later, that business has taken off.Omada Health's metabolic health program has now become the entry point for most new employers considering contracts with Omada Health, Duffy said."The inbound that we get from benefits buyers, the first question is, tell me more about the GLP-1 care track. And that's the thing that turns into the other conversations," Duffy said.Weight loss is now at the forefront of their pitches to employers "even if we don't necessarily want it to be," Duffy said, "because it's the thing. There's such a focus on metabolic care for obesity, and then they're like, oh cool, you guys also do diabetes and hypertension."Launched in 2011, Omada provides virtual care for diabetes, hypertension, musculoskeletal care, and diabetes prevention, alongside obesity, to employers, health plans, and even health systems. The startup is now looking ahead to an IPO, having <a target="_blank" href="https://www.businessinsider.com/exclusive-omada-health-confidentially-filed-s1-ipo-public-2024-10">filed its S-1 this summer</a>, Business Insider first reported in October. Omada previously declined to comment on its IPO plans.But as weight loss pushes Omada closer to a public market debut, Duffy said those contracts with employers haven't looked like what he expected.The startup had initially envisioned that employers would use Omada as a gatekeeper, choosing to pay for buzzy GLP-1 drugs only after a patient had already tried Omada's program, or cutting off the drug coverage after a year and using Omada to help patients maintain their weight loss.But most employers haven't chosen those routes, Duffy said."That's not a common voice. The majority of [our customers] — I actually don't know the reason, but I think it's much simpler — they're choosing to cover the drugs with lifestyle support alongside," Duffy said.<h2 id="d2408f5d-2923-4e91-b037-e2b5136c8d9c">The fraught market for Ozempic</h2>While dozens of healthtech companies, from <a target="_blank" class="" href="https://www.businessinsider.com/weightwatchers-ceo-out-ozempic-weight-loss-drugs-2024-9">WeightWatchers</a> to <a target="_blank" class="" href="https://www.businessinsider.com/ro-weight-loss-program-insurance-delays-wegovy-shortage-2023-6">Ro,</a> have rushed to build online programs to prescribe Ozempic and Wegovy, as well as <a target="_blank" class="" href="https://www.businessinsider.com/hims-and-hers-cheap-weight-loss-drugs-stock-soaring-2024-5">compounded versions of the weight-loss drugs</a>, Omada doesn't prescribe GLP-1s itself. Instead, the startup set out to help patients taking GLP-1s — which began as a class of diabetes drugs — make changes to their diet and exercise.When Duffy <a target="_blank" href="https://www.businessinsider.com/omada-strategy-weight-loss-drugs-semaglutide-ozempic-2023-5">told Business Insider about these plans in May 2023</a>, the startup was confronting a rising tide of employers panicking about the costs of the expensive drugs. The prescriptions typically cost between $8,000 and $10,000 per patient per year, <a target="_blank" href="https://www.wtwco.com/en-us/insights/2024/07/8-employer-considerations-about-glp-1-drugs">according to WTW</a>, formerly Willis Towers Watson. The firm said GLP-1 drugs for obesity account for about 10% of all pharmacy spending.Those cost concerns haven't abated. Most companies still don't cover GLP-1 prescriptions for weight loss, though <a target="_blank" href="https://www.cnn.com/2024/10/09/business/weight-loss-drugs-glp-1-wegovy-employer/index.html#:~:text=More%20employers%20may%20start%20covering,obesity%20drugs%2C%20such%20as%20Wegovy.&amp;text=Still%2C%20more%20than%20a%20quarter,a%20human%20resources%20consulting%20firm.">more pay for the drugs now</a> than in previous years. Employers expect their healthcare costs <a target="_blank" href="https://www.hrdive.com/news/weight-loss-drugs-fuel-large-employer-healthcare-cost-concerns-2025/724977/">to increase by about 8%</a> in 2025, largely due to the explosion of GLP-1s.But Duffy said only a small fraction of Omada's total contracts have imposed strict limits on GLP-1 coverage with Omada as a gatekeeper."In the narrow network world, there's a subcategory of enterprise GLP companies who just make it so that their employees can only get GLP with our conditions. You typically get less GLP usage there because you're introducing a friction point," he said.<div type="image" title="Two boxes of semaglutide under the trade names of Ozempic and Wegovy." height="3533" width="5300" msid="114728141" hostid="261" sizebytes="423802"></div>GLP-1s already come with plenty of friction points for patients. For the past two years, the drugs were in short supply, making it difficult for any patients to get their hands on the drugs, especially without a diabetes diagnosis. Those shortages are reportedly easing, with the FDA removing GLP-1 ingredient tirzepatide from <a target="_blank" href="https://dps.fda.gov/drugshortages/resolved/tirzepatide-injection">its shortage list</a> earlier this month, but many pharmacies are <a target="_blank" href="https://www.npr.org/sections/shots-health-news/2024/09/06/g-s1-21139/ozempic-wegovy-shortages">still dealing with empty shelves</a>.And GLP-1s can also produce plenty of side effects, which, in combination with their high costs and shortages, prompts most patients to <a target="_blank" href="https://www.nbcnews.com/health/long-people-stay-ozempic-stop-2-years-analysis-shows-rcna161216">stop taking the drugs</a> within the same year. That's a problem, since clinical data has shown that the majority of patients <a target="_blank" href="https://www.medpagetoday.com/special-reports/exclusives/112138">regain most of the weight</a> they lost on a GLP-1 after they stop taking it.Omada previously said it wanted to <a target="_blank" class="" href="https://www.businessinsider.com/omada-strategy-weight-loss-drugs-semaglutide-ozempic-2023-5">help patients keep the weight off after stopping their GLP-1 usage</a>. The company said it isn't yet ready to share any findings on how effective those efforts have been.Going forward, Duffy said Omada is continuing to refine its metabolic health strategy as the business grows. He said the startup is also looking to partner with <a target="_blank" class="" href="https://resourcecenter.omadahealth.com/omada-resources/omada-health-partners-with-intermountain-healthcare-and-castell-to-establish-integrated-virtual-care-option-for-diabetes-management-and-prevention">more health systems</a> to provide Omada's virtual solutions for conditions like diabetes and obesity to health systems' patients.

Weight loss care is leading IPO-hopeful Omada Health's latest growth surge as Ozempic boom continues

As India gears up for its vibrant festive season, a notable surge in <keyword id="23052492" type="General" weightage="20" keywordseo="seasonal-hiring" source="keywords">seasonal hiring</keyword> is taking place across various industries, with gig roles leading the charge. According to data from job site Indeed, seasonal hiring is projected to rise by 20% this year compared to last, driven primarily by <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, logistics, and retail sectors, as companies prepare for heightened consumer demand. Sashi Kumar, Head of Sales at Indeed India, emphasised, "The festive season is a crucial period for businesses across India, and we're seeing a significant uptick in hiring for seasonal roles as companies prepare to meet heightened consumer demand." <h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">What is gig work?</h3>Gig work refers to flexible, short-term, or freelance employment often facilitated by digital platforms. Unlike traditional full-time jobs, gig workers are hired on a project basis, allowing them to work for multiple employers or companies as needed. These roles are popular in industries like food delivery, transportation, and logistics. During India's <keyword id="21015356" type="General" weightage="20" keywordseo="festival-season" source="keywords">festival season</keyword>, when businesses experience a spike in demand, gig workers play an essential role in ensuring smooth operations across sectors like retail and e-commerce. <h3>Gig labour during festival season</h3>The festive season in India, spanning from September to December, is one of the busiest times of the year for businesses. As a result, companies ramp up hiring to cope with increased sales and customer demand. Seasonal roles in delivery, logistics, warehouse operations, and customer support see the highest demand, as businesses focus on timely deliveries, inventory management, and customer satisfaction. Indeed's data reveals that the top gig roles witnessing a rise in hiring this season include <keyword id="21462485" type="General" weightage="20" keywordseo="delivery-executives" source="keywords">delivery executives</keyword>, <keyword id="22103182" type="General" weightage="20" keywordseo="warehouse-workers" source="keywords">warehouse workers</keyword>, <keyword id="23052493" type="General" weightage="20" keywordseo="logistics-coordinators" source="keywords">logistics coordinators</keyword>, <keyword id="23052494" type="General" weightage="20" keywordseo="in-store-sales-executives" source="keywords">in-store sales executives</keyword>, and customer care executives. While major cities like Mumbai, Bengaluru, and Delhi see a steady increase in demand for gig workers (18-20%), tier-2 and tier-3 cities like Nagpur, Jaipur, and Vadodara are emerging as key contributors, witnessing a hiring surge of 22-25%. <div type="Article" hostid="261" msid="112999246" title="As fast as some jobs are growing, others are losing steam" mstype="2" mssubtype="0"></div><h3><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> major contributor</h3>One of the standout examples this festive season is Meesho, a leading e-commerce marketplace in India. According to sources, the platform has enabled around 8.5 lakh seasonal job opportunities, representing a 70% increase from last year. Of these, 5 lakh jobs were created within Meesho's seller network, while another 3.5 lakh jobs emerged in the logistics sector. Sourabh Pandey, CXO of Fulfilment and Experience at Meesho, shared, "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers, and logistics providers to scale their business is resulting in meaningful economic opportunities that are driving financial inclusion in these regions." Meesho has reportedly also partnered with prominent third-party logistics providers such as Delhivery, Ecom Express, and Shadowfax to meet the increased demands of the festive season. These collaborations have not only expanded logistics capacity but also helped generate gig opportunities in first-mile, middle-mile, and delivery associate roles. Abhishek Bansal, CEO &amp; Co-founder of Shadowfax, commented, "We are particularly excited to nearly double our capacity across several value-added services, such as Reverse Quality Check-Based Pickups and Hand-to-Hand Doorstep Exchange. These efforts ensure smooth deliveries and returns during the festive rush." <div type="Article" hostid="261" msid="112720685" title="If you want to find a job, it&amp;#39;s time to specialize" mstype="2" mssubtype="0"></div><h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">The future of gig work in India</h3>The rapid rise in <keyword id="23052491" type="General" weightage="100" keywordseo="gig-hiring" source="keywords">gig hiring</keyword> reflects the evolving needs of today's consumers, particularly during high-demand periods like the festive season. The e-commerce industry, which saw a 35% rise in demand for seasonal workers, is expected to continue driving this trend, with logistics and retail sectors close behind. "The industries that are growing — e-commerce, logistics, quick commerce — are doing so because they're aligned with the needs and behaviours of today's consumers,” Sashi Kumar explains. “This is where the future of India's <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword> could be heading". With a flurry of companies contributing significantly to job creation, particularly in tier-3 and tier-4 cities, gig work is becoming a vital source of employment across the country. As India's job market evolves, gig work is likely to play an even larger role in shaping the future of work, offering flexibility and economic opportunity to millions of workers. (With inputs from agencies)

E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

<ul class="summary-list"><li>The US unemployment rate dropped to 3.8% in March from 3.9% in February.</li><li>There were 303,000 US jobs added, the news release from the Bureau of Labor Statistics said.</li></ul>Amid <a target="_blank" href="https://www.businessinsider.com/best-high-paying-jobs-hiring-doctors-construction-accounting-2024-4">job demand for certain well-paying roles</a> and <a target="_blank" href="https://www.bls.gov/news.release/pdf/jolts.pdf">job openings</a> not changing too much from January to February, the US economy added 303,000 jobs in March.That job growth, stated in Friday's news release from the Bureau of Labor Statistics, was well above the <a target="_blank" href="https://www.investing.com/economic-calendar/nonfarm-payrolls-227">forecast</a> of 212,000 added jobs. Per the news release, January's job growth was revised from 229,000 to 256,000. <a target="_blank" href="https://www.businessinsider.com/jobs-unemployment-work-labor-market-wage-growth-in-february-2024-3">February's job growth</a> was revised from 275,000 to 270,000.Julia Pollak, chief economist at ZipRecruiter, told Business Insider the latest jobs report is "the Fed's holy grail: strong job market with non-inflationary growth."The leisure and hospitality industry saw employment increase by 49,000 to 16.9 million. Friday's news release said that the industry "has returned to its pre-pandemic February 2020 level.""Over the prior 12 months, job growth in the industry had averaged 37,000 per month," the release said.Nick Bunker, the economic research director for North America at the Indeed Hiring Lab, told Business Insider the industry "was a big engine of growth for so many years because it was still trying to recover.""It's unclear if that will be the case moving forward, but there is still strong demand for lots of services related to this industry," Bunker said.That can be seen with spending, as Bunker said "people are still eager to spend money on services."Pollak said that leisure and hospitality "was so hugely, heavily disrupted by the pandemic" that despite the return to the pre-pandemic employment peak, "we are nowhere near the pre-pandemic trend.""That's why I think we can expect to see faster than normal growth for many more months as this industry basically continues to recover and return to trend," Pollak said.Construction also saw strong employment growth, with a one-month increase of 39,000. Healthcare saw employment growth of around 72,000.The US unemployment rate decreased from 3.9% to 3.8%. The unemployment rate was <a target="_blank" href="https://www.investing.com/economic-calendar/unemployment-rate-300">forecasted</a> to hold steady at a rate of 3.9%.After three consecutive months at 62.5%, the labor force participation rate increased from 62.5% to 62.7%. The employment-population ratio increased from 60.1% in February to 60.3% in March.Average hourly earnings rose 0.3% in March from $34.57 an hour in February. Average hourly earnings rose 4.1% year over year in March, from $33.31 an hour to $34.69 an hour. That rise is less than the previous 4.3% rise."People are in the labor market looking for jobs, finding jobs, and wages are up — over the year, it's 4.1%. So that exceeds inflation. That means real money in the pockets of working families. It's exactly what we'd want to see," Acting Secretary of Labor Julie Su told BI.The Federal Reserve has been closely watching wage growth, and a continued decline could lead the central bank to <a target="_blank" href="https://www.businessinsider.com/fed-interest-rate-cut-outlook-powell-inflation-data-us-economy-2024-3">cut rates later this year</a> as is widely expected."Wage growth is ticking down," Bunker said. "We do see some measures that have tightness that are related to the labor market, like the quits rate has ticked down. There's a way for the labor market to continue to grow and be strong and not add fuel to the inflationary fire. And I think we're seeing many signs of that in this report."Additionally, data released earlier this week shows the number of people who quit rose by 38,000 in February from January's level. There were around 3.5 million quits in February. Openings for roles in February were elevated from the levels seen before the pandemic, but there were only 8,000 more openings in February than January."On the last business day of February, the number of job openings changed little at 8.8 million; this measure is down from a series high of 12.2 million in March 2022," Tuesday's <a target="_blank" href="https://www.bls.gov/news.release/jolts.nr0.htm">news release</a> from the Bureau of Labor Statistics about the Job Openings and Labor Turnover Survey estimates said.Tuesday's report also showed there were little changes from month to month, such as with job openings and total separations."It would be nice to live in a world where we have low unemployment and there's steady, consistent gains in wage growth and more people coming into the labor market," Bunker said. "So hopefully, fingers crossed, dramatic days are behind us and we can see some strong gains for workers, for job seekers. But, not in the way that feels discombobulated."

Job growth surged far more than expected in March

<ul class="summary-list"><li>8 out of 10 workers in a new survey said a free commute would persuade them to return to the office.</li><li>Workers said longer commutes, especially, can disrupt their work-life balance.</li></ul>If you're an <a target="_blank" href="https://www.businessinsider.com/companies-want-workers-back-in-office-reducing-office-space-survey-2023-11">employer trying to lure your workers back to the office</a>, perks like ping pong tables, free snacks, and trendy decor are unlikely to make a difference. Instead, consider a more practical benefit: Cover their commuting costs.Some 8 out of 10 employees say they'd be more willing to return to the office if their employer paid for their commute, <a target="_blank" href="https://www.ringover.com/blog/survey-return-to-office-mandates">according to a survey</a> that Ringover, a staffing and sales platform, conducted of 1,038 workers. Ringover surveyed remote workers (or those who were remote until recently) about what it would take for them to be down to return to the office.Workers spent an average of $8,466 annually, or about $700 a month, on commuting to the office, accounting for gas, car maintenance, the income lost due to commuting, car insurance, and more, <a target="_blank" href="https://www.bankrate.com/finance/credit-cards/average-cost-of-commuting/">according to a 2023 survey</a> from Bankrate. That's a drastic surge from 2019, when the <a target="_blank" href="https://www.businessinsider.com/average-spending-on-commute-how-much-money-2019-7">average annual commute cost</a> varied from a low of $2,000 in states like West Virginia to a high of $5,000 in North Dakota.And while commute times in several cities have shortened since the pandemic, the average one-way office commute is still about 27 minutes, <a target="_blank" href="https://www.nytimes.com/interactive/2023/11/06/business/economy/commuting-change-covid.html">according to The New York Times</a>. That's about an hour spent going back and forth between work every day, and many remote workers now see that as time that could be put to better use in their personal lives.There's always one exception, of course. A <a target="_blank" href="https://www.businessinsider.com/super-commuters-by-plane-to-nyc-from-ohio-south-carolina-2024-1">class of "super commuters"</a> are willing to shell out hundreds of dollars on their commute to save costs elsewhere. Some workers moved to smaller, cheaper cities during the pandemic but still work in more expensive metropolitan areas. They say the money they save on rent outweighs the costs of flight tickets, hotel rates, and even the hassle of planning a long-term commute.

Workers say employers should pay for their commute if they want them back in the office

<ul class="summary-list"><li>New data out Friday showed the US started 2024 with 353,000 nonfarm payrolls added in January.</li><li>That far surpasses the forecasted job growth.</li></ul>January was a solid month for job growth in the US.According to a <a target="_blank" href="https://www.bls.gov/news.release/empsit.nr0.htm">news release</a> from the Bureau of Labor Statistics on Friday, there were 353,000 nonfarm payrolls added that month. That far exceeds the 187,000 job gain <a target="_blank" href="https://www.investing.com/economic-calendar/nonfarm-payrolls-227">expected</a>.<a target="_blank" href="https://www.businessinsider.com/unemployment-rate-job-growth-labor-market-wages-december-economic-outlook-2024-1">December's growth</a> was revised from 216,000 to 333,000.Nick Bunker, economic research director for North America at the Indeed Hiring Lab, told Business Insider the year "is really off to a fast and furious start.""Not only did we get for the most part very good data about how 2024 started, but the pretty remarkable trends that we saw in 2023 held up after revisions as well," Bunker said. "Overall story is a labor market that's very resilient."Leisure and hospitality saw job growth of 11,000 in January, retail trade saw job growth of around 45,000, and professional and business services saw a gain of 74,000. The news release on Friday noted that the increase by 74,000, was "considerably higher than the average monthly increase of 14,000 jobs in 2023.""The fact that we had such broad-based jobs growth in January is a really positive sign," Daniel Zhao, lead economist for jobs search platform Glassdoor, said. "In 2023, much of the jobs growth was concentrated in healthcare, education, and government. Whereas, in the first report for 2024, we're seeing more diversity in which industries are adding jobs. So I think overall that's a healthy sign."The mining and logging industry saw a decline in employment of 6,000 at the start of 2024."Employment in the mining, quarrying, and oil and gas extraction industry declined by 5,000 in January, following little net change in 2023," Friday's news release from BLS stated.The unemployment rate was 3.7% in January after ending 2023 with a rate of 3.7% for both November and December. The expected rate for January was 3.8%.The overall labor force participation rate, which includes not only those working but "<a target="_blank" href="https://www.bls.gov/cps/definitions.htm">actively looking for work</a>," remained at 62.5%.Wage growth was fairly strong in January. Average hourly earnings rose by 4.5% year over year in January, which surpasses the last few 4.3% year-over-year increases. These earnings also increased by 0.6% from December to January — or from $34.36 to $34.55.An earlier data release from the Bureau of Labor Statistics on Tuesday showed the <a target="_blank" href="https://www.businessinsider.com/economy-layoffs-why-keep-hearing-about-tech-media-job-cuts-2024-1">layoffs</a> and discharges rate was 1.0% in December. That same news release showed there were 9.0 million job openings that month. That's slightly higher than the level for November, but it's not at the level seen during 2022 or even the monthly level seen in the first half of 2023.It's still early in the year, but job seekers and unemployed workers hoping to get a job may be finding it difficult to have a successful job search."The labor market is likely to be cooler in 2024, which means it probably will be harder to find a job this year than last year," Zhao <a target="_blank" href="https://www.businessinsider.com/how-get-job-this-year-network-resume-skills-certificates-unemployment-2024-1">previously told BI</a>."What you can see in the data is that layoffs are low, hiring is still strong, unemployment is low," Bunker said, adding that while job seekers "might not be able to get a new job as easily or quickly" as before, it's still a labor market with work opportunities.While Friday's new release showed how average hourly earnings data looked, another news release this week showed how <a target="_blank" href="https://www.bls.gov/news.release/eci.nr0.htm">compensation costs</a> for workers fared."Employment Cost Index data suggests that employers are feeling less pressure to raise pay to attract and retain workers as wage growth slowed further in the fourth quarter," Cory Stahle, an economist at the Indeed Hiring Lab, said. "Despite 2023 being a year of gradual moderation in wage growth, rates still remain above pre-pandemic standards as a result of continued demand for workers and low unemployment."The Federal Reserve will be <a target="_blank" href="https://www.businessinsider.com/interest-rates-when-will-federal-reserve-cut-inflation-recession-outlook-2024-1">watching labor markets closely</a>. This week, the Fed <a target="_blank" href="https://www.businessinsider.com/did-federal-reserve-cut-interest-rates-continue-pause-inflation-recession-2024-1">held rates steady</a> for the fourth meeting in a row. While rate hikes have been paused, people do expect cuts later on this year."The Fed is certainly pushing back on the notion of a March interest rate cut, dashing investors' hopes again, but keeping options open and remaining non-committal as a central bank does," Greg McBride, the chief financial analyst for Bankrate, said.Still, the hot job market may mean the Fed waits a bit longer before cutting rates.With solid year-over-year wage growth of 4.5% in January, ZipRecruiter's chief economist Julia Pollak said it's "a number that would confirm the Fed's concerns that the labor market and the economy could still be too hot and are still better than in 2019 for workers, that number would suggest that perhaps inflation will stabilize at a pace higher than the fed's 2% target."Additionally, with a solid US labor market per data in Friday's report, Bunker said "hopefully this isn't just a sprint out of the gate, but the labor market has the endurance to go the distance and we can continue to see strong gains, maybe not as strong as today, but some strong gains for the rest of the year."

Job growth surged past forecasts in January

iPhone maker <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="153" meta.entityid="Apple">Apple</keyword> through its vendors is expected to employ over 5 lakh people in India over the next three years, according to government sources. At present Apple's vendors and suppliers employ 1.5 lakh people in India. Tata Electronics, which runs two plants for Apple, is the biggest job generator. "Apple is accelerating hiring in India. At a conservative estimate, it is going to employ five lakh people in the next three years through its vendors and components suppliers," a senior government officer told PTI. When contacted, Apple declined to comment on the projection. Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years. According to market research firm Counterpoint Research, Apple led the India market with the highest revenue in 2023 for the first time, while Samsung topped the chart in terms of volume sales. The firm in its recent report said Apple surpassed the 10-million-unit mark in shipments and captured the top position in revenue in a calendar year for the first time. Apple's iPhone exports from India rose sharply to USD 12.1 billion in 2023-24 from USD 6.27 billion in 2022-23, representing a massive surge of nearly 100 per cent, according to trade intelligence platform The Trade Vision. The total smartphone exports from India surged to USD 16.5 billion in 2023-24, up from USD 12 billion in the preceding year. This surge underscores the broader impact of Apple's presence on the industry, driving growth and innovation in the Indian manufacturing ecosystem, the company stated. "Apple's decision to ramp up its manufacturing operations in India has been motivated by various factors, including the need to diversify its supply chain, mitigate risks associated with geopolitical tensions, and capitalise on India's burgeoning consumer market. According to the trade intelligence platform, the presence of India-made iPhones in the US market has been steadily gaining momentum, marking a significant stride in Apple's strategic shift of its global manufacturing base to India. With inputs from PTI. SEE ALSO:<a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a><a href="https://www.businessinsider.in/tech/news/playstation-5-is-now-available-at-a-discount-of-10000-for-a-limited-period/articleshow/109183034.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/playstation-5-is-now-available-at-a-discount-of-10000-for-a-limited-period/articleshow/109183034.cms" target="_blank">PlayStation 5 is now available at a discount of ₹10,000 for a limited period</a><a href="https://www.businessinsider.in/business/auto/news/ev-sales-expected-to-grow-by-over-65-in-2024-double-its-overall-market-share/articleshow/109155691.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ev-sales-expected-to-grow-by-over-65-in-2024-double-its-overall-market-share/articleshow/109155691.cms" target="_blank">EV sales expected to grow by over 65% in 2024, double its overall market share</a>

Apple may employ 5 lakh people in India in 3 years as it looks to boost India production

New Delhi, The growth rate in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s business activity accelerated to a 7-month high in February driven by a strong demand for both manufacturing and services, according to a private economic survey released on Thursday. <keyword id="19916458" type="General" weightage="20" keywordseo="hsbc" source="keywords">HSBC</keyword>'s flash India Composite Purchasing Managers' Index (<keyword id="19905748" type="General" weightage="20" keywordseo="pmi" source="keywords">PMI</keyword>), compiled by S&amp;P Global, rose to 61.5 this month from 61.2 in January, which is above the 50-mark that separates expansion from contraction for the 31st consecutive month. "The pace of acceleration in the output of India's manufacturers and service providers, combined, was at a 7-month high in February. Encouragingly, new export orders rose sharply, particularly for goods producers," said <keyword id="20045866" type="General" weightage="20" keywordseo="pranjul-bhandari" source="keywords">Pranjul Bhandari</keyword>, chief India economist at HSBC. The manufacturing PMI for February rose to 56.7 from last month's 56.5, its highest since September, and the preliminary services PMI rose to 62.0 from 61.8 in January to reach its highest level in the last 7 months. Overall international orders increased at the fastest pace since September. The survey is in tune with the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> bulletin released on Tuesday which states that the Indian economy continues to sustain the momentum achieved in the first half of 2023-24 and a fresh round of capital expenditure by the corporate sector is expected to fuel the next leg of growth. Consumer confidence strengthened further in January 2024, driven especially by optimism about the general economic situation and employment conditions, as per the RBI's latest survey of households. Various enterprise surveys also point towards strong business optimism, the RBI bulletin points out. It also states that high frequency indicators point towards sustained strength in demand conditions in the economy during January 2024. E-way bills grew by 13.2 per cent in December 2023. Toll collections expanded by 15.5 per cent year-on-year in January 2024, although they sequentially moderated from a record in the previous month. Automobile sales had registered an expansion of 23.3 per cent year-on-year in January with two wheeler sales recording double digit growth. Retail tractor sales recorded a seven-month high growth at 21.2 per cent year-on-year in January 2024. Vehicle registrations recorded strong year-on-year growth.

India's business activity surges to 7-month high in February

<ul class="summary-list"><li>The US added 336,000 jobs in September, greater than job growth in August. </li><li>The unemployment rate was 3.8% again.</li></ul>The US unemployment rate didn't budge in September and more jobs were added than in August.New labor force participation data, employment for different industries, average hourly earnings, and other US labor market figures were released by the <a href="https://www.bls.gov/ces/" target="_blank" rel="noopener">Bureau of Labor Statistics</a> on Friday.The US added 336,000 jobs in September based on nonfarm payroll employment growth, per the Bureau of Labor Statistics report on Friday. That's way higher than the 170,000 <a href="https://www.investing.com/economic-calendar/nonfarm-payrolls-227" target="_blank" rel="noopener">gain expected</a> and more than August's revised growth of 227,000. <a href="https://www.businessinsider.com/what-is-the-us-unemployment-rate-labor-market-2023-8">August's preliminary estimate</a> was 187,000, per the report published at the start of September."The economy is strong and an economy that works for working people is the best kind of economy that we can build. This is a strong report," Acting Secretary of Labor Julie Su told Insider. "It is a sign of stability, steady growth, and we are committed to making sure that all Americans share in the growth and prosperity."July's payroll gain was revised from 157,000 to 236,000, per the latest news release from the Bureau of Labor Statistics."If you step back, look more into the trends, this is a labor market that's still resilient but has the sort of strength that seems like it's sustainable and enduring," Nick Bunker, economic research director for North America at the Indeed Hiring Lab, told Insider on Friday. "So we are seeing very strong payroll gains, especially when you compare it to what you need just to keep up with population growth.""I think perhaps most remarkable is the fact that the economy is continuing to add jobs even in the most interest-rate-sensitive industries, like manufacturing and construction," Julia Pollak, chief economist for ZipRecruiter, told Insider.Leisure and hospitality saw robust job growth in September, with a gain of 96,000. Government employment soared by 73,000, with bigger gains in local and state government roles compared to the job growth for the federal government.The information sector saw a job loss of 5,000."Within the industry, employment in motion picture and sound recording industries continued to trend down (-7,000) and has declined by 45,000 since May, reflecting the impact of labor disputes," Friday's news release stated.After an increase in the unemployment rate in August as more people entered the labor force, the unemployment rate was 3.8% again in September. That's higher than the <a href="https://www.investing.com/economic-calendar/unemployment-rate-300" target="_blank" rel="noopener">forecast</a> of 3.7%.Like the unemployment rate, the labor force participation rate held steady in September. It was 62.8% again. The employment-to-population ratio also stayed the same, at 60.4%.Average hourly earnings increased by 4.2% year over year and 0.2% month over month. Average hourly earnings were $33.88 in September. Both month-over-month and year-over-year growth has been slowing, which will likely please the <a href="https://www.businessinsider.com/did-fed-pause-raise-interest-rate-hikes-september-inflation-recession-2023-9">Fed as it continues its fight against inflation</a>."Wage growth is moderating and it's trending towards a direction that's similar to what we saw before the pandemic and more sustainable," Bunker told Insider.Data published on Tuesday showed 3.6 million quits in August, and job openings climbed in August to 9.6 million. Bunker is one workplace expert that cautioned about the monthly increase in openings."Job openings spiked in August, but the underlying reality is more likely one of resilience rather than resurgence," Bunker <a href="https://www.hiringlab.org/2023/10/03/august-jolts-report/" target="_blank" rel="noopener">wrote</a> in a post about the latest Job Openings and Labor Turnover Survey report from the <a href="https://www.bls.gov/jlt/" target="_blank" rel="noopener">Bureau of Labor Statistics</a>. Bunker said in that post a "large majority of the almost 700,000 increase in job openings came from just one industry—professional and business services—and is likely noisy."But the latest jobs data could prove good news for those concerned about a potential looming downturn."The labor market is again showing that it's resilient. We're one month closer to getting through 2023 without this predicted recession, and a big part of that has been the resiliency in the job market," Daniel Zhao, lead economist at Glassdoor, told Insider.Overall, <a href="https://www.businessinsider.com/recession-outlook-economy-fed-soft-landing-central-bank-linkedin-economist-2023-10">workers still have some power</a> in the cooler labor market, LinkedIn's chief economist Karin Kimbrough recently told Insider."Right now, I think a lot of workers are still getting accustomed to the fact that the terms they could demand a year and a half ago are not the terms they can demand now," Kimbrough said.Kimbrough said there's rebalancing occurring, but the "balance is swinging a little bit more towards employers."

Job growth surged in September

Bengaluru, Driven by a surge in travel, there has been a 50 per cent surge in hiring for tourism and hospitality jobs between December 2022 and 2023 in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, according to a report on Wednesday. The report by Indeed, a global hiring and matching platform, also revealed that blue-collar hiring in the tourism and hospitality industry witnessed an overall 8 per cent increase. The rise not only signals a noteworthy post-pandemic recovery but also reflects a promising future for the industry while underscoring the job market's adaptability and resilience in the face of evolving global trends. The <keyword id="20223693" type="General" weightage="20" keywordseo="world-travel-and-tourism-council" source="keywords">World Travel and Tourism Council</keyword> (WTTC)'s Economic Impact Research predicted India to become the third most influential market in the Travel and Tourism industry globally. As per Indeed's data, hiring in the tourism industry peaked in October 2023 with a 61 per cent rise as compared to December 2022. This can be attributed to multiple reasons such as October being a popular time for tourism owing to weather changes propagating hill station visits, festive season and more. Top cities leading the upsurge in hiring include <keyword id="19906633" type="General" weightage="20" keywordseo="delhi-ncr" source="keywords">Delhi NCR</keyword> (23 per cent) Mumbai (5.19 per cent), Bengaluru (6.78 per cent). Overall, these cities take the lead in a variety of tourism-related industries by leveraging their distinct commercial, technological, and cultural advantages. Other cities, including <keyword id="19897309" type="General" weightage="20" keywordseo="pune" source="keywords">Pune</keyword> (2.33 per cent) and Kochi (2.41 per cent), also contributed significantly to the increase. "As we approach National Tourism Day, we must recognise the favorable employment outlook and honour the vibrant spirit of exploration, cross-cultural exchange, and economic advancement owing to the increased hiring prospects," said <keyword id="19979300" type="General" weightage="20" keywordseo="sashi-kumar" source="keywords">Sashi Kumar</keyword>, Head of Sales at Indeed, in a statement. "This rise across cities reflects their adaptability and the economic growth that the tourism sector brings to the workforce," he added. The hospitality and tourism industry has also noted a shift in the priorities of travellers in 2023 with factors like sustainability and hygiene coming to the forefront. Travellers are now more specific about their itineraries and aim for reduction of energy consumption during their travel, by embracing nature and enjoying local experiences. Automation has also entered certain areas where many are indulging in virtual reality tours and booking tickets via chatbots. The tourism sector is shaping as per these new patterns and job creation is taking place accordingly, the report said.

Travel surge drives 50% rise in hospitality jobs in India: Indeed

<ul class="summary-list"><li>Last year, the three major credit bureaus announced changes to medical debt reporting. </li><li>They started removing unpaid medical debts of $500 or less from credit reports.</li></ul>A year ago, the three major credit bureaus announced <a target="_blank" href="https://www.businessinsider.com/most-medical-debt-removed-credit-reports-experian-transunion-cfpb-wsj-2022-3">they would change how they report medical debt on credit reports</a>. The impact has been significant for millions of Americans.In March 2022, Experian, Equifax, and TransUnion <a target="_blank" href="https://www.businessinsider.com/most-medical-debt-removed-credit-reports-experian-transunion-cfpb-wsj-2022-3">announced</a> they would be erasing nearly 70% of medical debt from their customers' credit reports, along with removing unpaid medical debts of $500 or less. New unpaid debts would also not get added to credit reports for a full year after being sent to collections.The bureaus started implementing those changes in July 2022, and in August 2022, they also said medical debt in collections would <a target="_blank" href="https://www.vantagescore.com/press_releases/vantagescore-takes-steps-to-further-support-consumers-affected-by-medical-debt-collections/">no longer be used to calculate Vantage scores</a>, which is one of the most commonly used credit scoring models.Think tank Urban Institute released a <a target="_blank" href="https://www.urban.org/urban-wire/medical-debt-was-erased-credit-records-most-consumers-potentially-improving-many">report</a> last week analyzing the impact of the changes to medical debt collections. Based on credit bureau data, it estimated that more than 15 million consumers might have had their medical debt in collections erased in the past year.Additionally, the report said that since the changes went into effect, 27 million consumers "experienced a significant improvement in their Vantage scores." From August 2022 to August 2023, their average score rose from 585 to 615 points, while those without medical debt experienced almost no change in their credit scores.Still, the report noted that it "will also be important to monitor provider billing and collection practices in response to concerns that removing medical debt from credit reports could have unintended consequences, such as increased efforts among providers to obtain upfront payment before delivering care or reliance on other collection strategies."While the changes to medical debt reporting have eased the burden on many Americans, federal agencies and some lawmakers continue to be concerned about costly medical bills. The Consumer Financial Protection Bureau found last year that <a target="_blank" href="https://www.businessinsider.com/inaccurate-medical-bills-trap-americans-doom-loop-credit-reports-cfpb-2022-3">inaccurate bills were costing Americans $88 billion</a> in 2021 due to errors in hospital billing. The report said that "medical bills placed on credit reports can result in reduced access to credit, increased risk of bankruptcy, avoidance of medical care, and difficulty securing employment, even when the bill itself is inaccurate or erroneous."And Democratic lawmakers like Sen. Bernie Sanders have pushed for the cancellation of all medical debt following the credit bureaus' announcement to change how it reports the debt."'Medical debt' and 'Medical bankruptcy' are two phrases that should not exist in the United States of America," Sanders <a target="_blank" href="https://twitter.com/SenSanders/status/1506015958917431303?lang=en">wrote</a> on X, formerly Twitter, last year. "Removing 70% of past-due medical debt from credit reports is a step in the right direction, and much more needs to be done. We must cancel all medical debt."

Why credit scores for 27 million Americans are surging

<ul class="summary-list"><li>Private-sector firms added 247,000 jobs in April, according to <keyword id="12002868" type="UNKNOWN" weightage="60" keywordseo="adp" source="Orion">ADP</keyword>'s monthly <keyword id="11897160" type="UNKNOWN" weightage="60" keywordseo="hiring" source="Orion">hiring</keyword> report.</li><li>That came in below the median forecast of 395,000 new <keyword id="12002870" type="UNKNOWN" weightage="60" keywordseo="private-payrolls" source="Orion">private payrolls</keyword> and marked the smallest gain since August.</li></ul>The private sector's hiring recovery slowed into the second quarter amid elevated inflation and the persistently wide gap between worker supply and demand.Private-sector businesses added 247,000 jobs through April, ADP said in its <a href="http://www.adpemploymentreport.com/">monthly employment report</a> on Wednesday. Economists surveyed by Bloomberg expected an increase of 395,000 payrolls. The gain reflects a sizeable slowdown from the growth seen through March and the smallest monthly gain since August.The March increase was revised to 479,000 payrolls from 455,000."The <keyword id="12002872" type="UNKNOWN" weightage="60" keywordseo="labor-market" source="Orion">labor market</keyword> recovery showed signs of slowing as the <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> approaches full employment," Nela Richardson, chief economist at ADP, said in the report. "While hiring demand remains strong, labor supply shortages caused job gains to soften for both goods producers and services providers."April represented the first full month with higher interest rates and, as such, a slightly harder environment for hiring. The Federal Reserve <a href="https://www.businessinsider.com/federal-reserve-hikes-interest-rates-inflation-higher-costs-loans-mortgages-2022-3">raised rates in March</a> for the first time since the pandemic crash in a bid to ease demand and cool inflation. The move lifted borrowing costs throughout the economy, and the expected slowdown in economic growth could rein in the pace at which businesses rehire.Firms also continued to grapple with <a href="https://www.businessinsider.com/inflation-cpi-march-price-growth-report-gas-food-costs-climbing-2022-4">the highest inflation in more than four decades</a>. With Russia's invasion of Ukraine roiling supply chains and driving commodity prices sharply higher, job creation could slow as businesses prioritize their margins over hiring efforts.The outlook was bleakest for small businesses. Firms with fewer than 50 employees shed 120,000 payrolls through the month, marking the largest one-month decline for the group since the initial lockdowns of 2020.Businesses with at least 500 workers counted for the bulk of the month's overall gain by adding 321,000 payrolls. Medium-sized firms — those with between 50 and 499 workers — created 46,000 payrolls.Service-industry firms also led the way as virus infections held at relatively low levels and the economy remained open. The industry added 202,000 jobs in April, led by a 77,000-payroll uptick among leisure and hospitality firms. Professional and business services followed with a gain of 50,000 jobs, and education and health services created 48,000 private payrolls.Goods-producing businesses added just 46,000 jobs through the month. The industry has been hit particularly hard by high inflation, as soaring energy and commodity costs have crashed into still-unsolved supply chain issues. Manufacturers fared the best, creating 25,000 private payrolls in April. Construction businesses added 16,000 jobs, and natural resources and mining firms created just 4,000 payrolls.The disappointing payroll growth offers a foreboding sign that the government's own jobs report could badly miss expectations. The Bureau of Labor Statistics is expected to show the US adding 400,000 nonfarm payrolls through April when it reports new data on Friday, while the unemployment rate is forecasted to match the pre-crisis record-low of 3.5%.To be sure, the pandemic has seen ADP's data diverge significantly from the government's own count, meaning there's still a good chance the Friday report exceeds expectations. Yet as the country creeps closer to a full recovery and <a href="https://www.businessinsider.com/job-openings-march-jolts-labor-shortage-hiring-market-great-resignation-2022-5">the labor shortage charges forward</a>, the hiring environment is only getting tougher for employers.

You Searched For "employment surge" and got 13 results

AI can create 2.7 million tech jobs by 2028 in India, study says

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Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report

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Weight loss care is leading IPO-hopeful Omada Health's latest growth surge as Ozempic boom continues

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E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

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Job growth surged far more than expected in March

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Workers say employers should pay for their commute if they want them back in the office

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Job growth surged past forecasts in January

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Apple may employ 5 lakh people in India in 3 years as it looks to boost India production

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India's business activity surges to 7-month high in February

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Job growth surged in September

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Travel surge drives 50% rise in hospitality jobs in India: Indeed

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Why credit scores for 27 million Americans are surging

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The US private sector added 247,000 jobs in April, dramatically slowing hiring amid surging inflation

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