(Representational image) The job market across economies will take longer to recover, and the world labour market will witness equivalent of 52 million less jobs in 2022 versus the pre Covid-19 levels, International Labour Organisation (ILO) said on January 17. The global labour market outlook has deteriorated as the Omicron variant of Covid-19 continues to infect people and restrict economic recovery, the UN body said, adding that “a return to pre-pandemic performance is likely to remain elusive for much of the world over the coming years”. “On the basis of the latest economic growth forecasts, the ILO is projecting that total hours worked globally in 2022 will remain almost 2 percent below their pre-pandemic level when adjusted for population growth, corresponding to a deficit of 52 million full-time equivalent jobs (assuming a 48-hour working week),” ILO said in a report. The silver line is that the projected deficit in 2022 is less than 2021 and 2020. In 2021, the UN … [Read more...] about Global job market will take longer to recover; 2022 to see 52 mn less jobs than pre-pandemic level: ILO
Competitive labour market
Thailand has a perfect demographic storm heading its way after two years of very swift change in the local employment market. Whilst people scrambled to find new employment in the early days, and are now gainfully self employed, employers are complaining of acute labour shortages.This problem has been exacerbated by the closure of the borders stopping the flow of migrant labour, mostly from Cambodia and Myanmar, flowing into the country. They all moved back to their countries in the early months of the pandemic.The problem is also being fuelled by a decline in Thailand’s birth rate, and an ageing population.Manufacturers are complaining that they’re trying to get their factories back up to full speed again but they simply can’t find people to fill the jobs.Even Hotel operators are currently struggling to fill vacant positions as they reopen to tourists, according to Marisa Sukosol Nunbhakdi, president of the Thai Hotels Association. She complained that a shortage of good applicants is … [Read more...] about Thailand News Update | Inflation rises up & Labour shortage in Thailand
Source: Reuters The COVID-19 crisis is continuing to hit jobs hard around the world, the United Nations said Monday, warning it could take years for employment levels to reach pre-pandemic levels. In a new study, the UN's International Labour Organization revised its previous forecast that the global employment market will make a nearly full recovery from the virus this year. Blaming the impacts of COVID variants like Delta and Omicron and uncertainty around how the pandemic will evolve, it now projects a significant deficit in working hours in 2022 compared to before COVID-19 emerged. "Global labour markets are recovering from the crisis much more slowly than we previously expected," ILO chief Guy Ryder told reporters, warning that the outlook "remains fragile." "We are already seeing potentially lasting damage to labour markets, along with concerning increases in poverty and inequality." Close COVID-19 Vaccine Frequently Asked Questions View more … [Read more...] about Pandemic still taking heavy toll on jobs: United Nations
Brex’s two twenty-something founders are now billionaires, thanks to a lofty new funding round announced this week that nearly doubled the valuation of their five-year-old fintech firm. The San Francisco-based startup—which is aiming to overhaul the corporate credit card—confirmed on Tuesday that it has raised $300 million in a funding round led by investment firms Greenoaks Capital and Technology Crossover Ventures (TCV), giving it a $12.3 billion valuation—a sizable jump from the $7.4 billion valuation it fetched just nine months ago. Cofounders (and co-CEOs) Henrique Dubugras, 26, and Pedro Franceschi, 25, each hold a 14% stake in Brex, Forbes estimates, worth about $1.5 billion apiece. ( Forbes discounts the value of privately held companies.) The pair declined to comment on Forbes’ estimates but Dubugras did speak with Forbes about his startup’s path to success. The young fintech has made a name for itself with a corporate credit card tailored to the needs of … [Read more...] about Two Friends Who Met On Twitter In High School Are Latest Under-30 Billionaires
Share to Twitter Share to Linkedin Frankfurt, January 12, 2022 - Last year, the market capitalization of cryptocurrencies reached $3 trillion USD for the first time. At the beginning of the 2021, it was less than $800 billion USD. DeFi now has a total value locked (TVL) of $100 billion USD on Ethereum alone. But NFTs have been the most surprising, flanked by complementary areas like metaverse and GameFi. Who can claim to have foreseen these developments? Looking into the future is notoriously difficult. Nevertheless, we dare to make predictions for the year 2022. It will be exciting to see whether they come true. 1. Bitcoin price reaches $100,000 USD and the crypto asset market grows in breadth and depth Rising inflation rates make scarce assets like Bitcoins (BTCs) increasingly attractive. Bitcoin is not only the oldest, most decentralized, and best-known cryptocurrency - a distinctive feature compared to other cryptocurrencies is its limited supply of 21 … [Read more...] about 10 Predictions For Blockchain, Crypto Assets, DeFi, And NFTs For 2022
Share to Twitter Share to Linkedin Bitcoin soared through much of 2021, helped on by the likes of Tesla TSLA and El Salvador embracing the cryptocurrency ( though Tesla CEO Elon Musk is increasingly backing the meme-based dogecoin ). Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains The bitcoin price, hitting an all-time high of almost $70,000 per bitcoin in November, has since crashed back, losing around 40% of its value and wiping $1 trillion from the combined crypto market. Now, Wall Street giant Fidelity has said other countries and even a central bank could follow El Salvador and Tesla into bitcoin this year—predicting those that buy bitcoin while the price is low "will be better off competitively than their peers." Sign up now for the free CryptoCodex —A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and … [Read more...] about ‘Astonishing’—An Investment Giant Just Advised Countries And Central Banks To Buy Bitcoin While The Price Is Low
Share prices of Rivian Automotive ( NASDAQ:RIVN ) briefly fell to $75.13 per share on Friday before closing the session at $79.95 per share. It was the first time Rivian stock dipped below its initial public offering (IPO) price of $78 per share. The sell-off marks over a 55% drawdown from the stock's all-time intraday high of $179.47 per share set on Nov. 16, 2021. Here are arguments for and against buying the electric vehicle (EV) stock now. Image source: Rivian Automotive. Take advantage of inefficient markets Howard Smith : Markets aren't always efficient, and that's how investors can gain an advantage. While Rivian shares have dropped recently in concert with many high-growth tech names, one of the biggest dips came with the news that Amazon ( NASDAQ:AMZN ) was starting a partnership with Chrysler parent Stellantis ( NYSE:STLA ) to supplement its supply of electric delivery vans. Prior to this news, investors only knew that Amazon -- an early … [Read more...] about Rivian Stock Just Fell Below its IPO Price of $78 Per Share: Time to Buy?
O n a Monday in April, Shannon Spanhake stood at the front of Cleo’s office as her executive team lined up beside her. It had been only a few months since her parenting benefits startup had raised its latest round of funding—$27.5 million from blue-chip venture capital firm NEA—and Cleo’s CEO and cofounder was telling staff to push harder. A lot harder. The San Francisco-based company’s 50-person workforce needed to spend more time in the office and raise their performance to what she considered “an A-plus-stage appropriate team,” according to four former and current employees who heard the talk. She wanted no complainers. There was not enough hustle and not enough presence at work. One bullet point from the slideshow spelled it out: “Expect to work 50- to 60-hour weeks.” Her presentation got cut short before she could get to the next part. The company’s work-from-home policy was being eliminated. The harangue stunned some of Cleo’s employees, who felt that it flew in the … [Read more...] about Exclusive Investigation: How Lies And a Troubled Workplace Brought Down The Founder Of $115 Million Cleo
Hiring demand across industries jumped 12 percent year-on-year in December 2021, indicating optimism in the economic recovery cycle, the Monster Employment Index released on January 17 shows. The index, which analyses online job postings on the Monster India portal as well as other databases, found that the hiring demand was higher in 22 of the monitored 27 industries compared to December 2020. In terms of segments, roles in office equipment and automation continued to see the greatest demand, with posting for these jobs up 86 percent year-on-year in December 2021. "Hiring numbers from the close of 2021 have certainly brought about a strong sense of hope and recovery across sectors," Monster.com Chief Executive Officer Sekhar Garisa said. "However, we remain cautiously optimistic on the growth of the Indian recruitment space in 2022, keeping in mind the possible impact of Omicron on the job market." Close India has in recent weeks has seen a spike in daily … [Read more...] about Optimism on jobs front, hiring demand rises 12% in December 2021
Share to Twitter Share to Linkedin The fact that we are in the grip of a global energy crisis is now beyond doubt. In the UK there are a slew of energy businesses going into administration, and pleas for government bailouts for energy intensive manufacturers. In the domestic economy, there are spiralling numbers of old people who, having survived Covid-19, are forecast to perish unless the winter is exceptionally mild. In recent months, France has seen some of its fastest growing green energy suppliers lose customers at a rapid rate, as the green premium looks increasingly unaffordable. Hydroption, a supplier of low carbon electricity, has been placed under judicial administration after failing to pay its suppliers and debts. India has suffered too, with shortages of coal in the second half of 2021 leading to outages and curbs imposed on energy hungry industries. In China, companies in the industrial heartlands have been told to limit consumption, and … [Read more...] about Will The Energy Crisis Help Clean-Up Bitcoin?