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  
Post a Comment

Related Posts

    • GST filing

      Still GST system is not 100 % user/official friendly. there are news that so much money (in lacs) collected by fraudulent GST bills. I am a GST registered vendor. The company turn over is almo...

      By Subramanian Venkataraman
    • Taxation Issues faced by Startups: Inputs Sought

      Many of you know how LocalCircles had worked with the Government in 2019 on resolution of angel tax issues under Section 56 (2)(viib) of the Income Tax act. Once again, the Government h...

      By LocalCircles Manager
    • Why no penalty an dprosecution for govt

      Now our IT portal has become sick being suffering babu virus or extortion virus. McA site never works on last days and people have to pay penalties for mistakes of govt. Now professionals are wasti...

    • Income Tax Return Filing Portal

      What about income tax return filing date? Any extension thereof? As of today, I am not able to file the return . Has any one else file the income tax return? Has Portal issue been solved? I have al...

      By Hasmukh Sangani
    • Grass root experience

      I have been doing and promoting small business for the last 30 years. The real problem is that the ministers and their secretaries don't have practical experience and they look for 5 trillion dolla...

    • Why do Ministers refrain from engaging with businesses

      I find it quite interesting that the ministers want to deal only with tata adani ambani and not the real msme and startups. Why is the msme minister (appointed this week Narayan Rane) his secretary...

      By Aditi Mitra
    • Why such mismanagement

      FICCI the industry association has written to Centre saying most of 40000 ventilators manufactured under PM Cares Fund last year are lying unused at government facilities. Mainly due to negligence ...

      By Sudesh Rai
    • Word of caution to Indian small entrepreneurs

      Friends this is Aditya from New Jersey. A friend of mine from Brazil recently lost 3 members of his family back home to Covid. The P1 variant is most dangerous of all and is now invading neighbors ...

      By Aditya Sharma
    • simplifying procedures for easy business

      none of the administrators who are lucky to get into govt seats have practical field experience and they are not aware of the strains of small entrepreneurs. They always imagine that any entrepren...

      By Subramanian Venkataraman
    • Some Traders evading gst

      I agree with the other post. Traders have a strike today against GST. Many traders basically are still selling supplies in cash and then sell the bill later to some other entity for a pr...

      By SN Mittal
    • Traders and their strike

      The traders of India are simply fooling the world and doing a strike on GST. I am sorry to say but 80% of even medium size traders jump on every opportunity to do buisness without receipt with comm...

      By Shikha Chhabra
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)