Jobless claims data

US economy was the strongest in its history in Feburary. Within a month the jobless claims yesterday were 6.6 million. See attached.

My estimate us India may see 50M go jobless if this Covid19 crisis continues till june or beyond. We have ballpark only 100M Or 10cr jobs in the country and that includes private public infomal sector, construction workers everyone.

1 in 2 jobs will be Gone. more  

View all 9 comments Below 9 comments
Any way out except we have to face the challenge with positive outlook and vigor to come out even stronger trying to replace China so that the over-dependence on China is reduced and India is able to get its due position in the world economy more  
5% to 10% or more continue job even after retirement be it any Pvt., Govt., MNC or etc. Then how youngster will get job. more  
I fully agree with Mr Vijay. Job cuts may not be much in india due to corona. But the needy and meritorious candidates losing out is due to extension of jobs for retired persons in govt and private sectors. Some entities do not have the policy of retirement as the job continues till death. Let the prime minister and the MOL and employment put a full stop to extensions and promote youngsters and lesser aged skilled personnels. more  
What you said is okay n falls under succession planning as well as organisation structure and or department organogram. Today's time it is generally observed that all major companies wants to reduce manpower, as a result in place of retiered person they give charge to next person in line with same salary or just raise some perks. The retiered person is mostly taken on contractual appointment basis with consolidated salary but depending on his position may enjoy some perks.

Moreover , many youngersters are not prepared to go to other work place on same organisation , change of location , whereas the retiered the person can go to other location
One more important aspect is if a retiered person was
hoding high position if the parent company don't retain him the competitor company will higher him.

So there are many issues not one. more  
A person who is retiring must be having his second level & so on assisting him, why second level is not pr omitted /offered that post & so on the chain will go up, youngster will get opportunity / break. Retiring person was not youngster at the time of joining & if his experiences is counted then why not of his second level assisting him. Greed for money is the main excuse for the person & employer. more  
No. We in India will not face such a situation. We will come out of the current situation with little adverse effects. Let's always B POSITIVE and set an example to others. more  
There is no need to compare India and the USA. Difference is evident from handling of Covit 19 cases. I agree with Mr Ramanathan's view. more  
This seems more like speculation. This is an extremely negative message. This appears more like a statement from our wonderful negative politicians than a member of Local Circles. more  
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