WASHINGTON, April 27:The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday.
The COVID-19 pandemic is disrupting society, economy and politics in almost all parts of the world. Every country is likely to bear the brunt of such upheaval. Nepal is no exception. In this article, we look into its potential impact on foreign labor migration and its trickle-down effects on the macro as well as micro levels.
GENEVA/WASHINGTON, March 27: Global job losses from the coronavirus crisis could far exceed the 25 million estimated just days ago, U.N. officials said on Thursday, as U.S. jobless claims surged to record levels, starkly showing the scale of the economic disaster.
KATHMANDU, Jan 27: Kathmandu Metropolitan City (KMC) managed to spend only around Rs 2.5 million out of Rs 10 million allocated to in the previous fiscal year under Prime Minister Employment Program (PMEP) – an ambitious program that aims to create jobs for unemployed people.
WASHINGTON, DC – In the 1950s, during a very tight postwar labor market, American business executives voted Human Resources (HR) the most glamorous area in business. As Wharton School professor Peter Cappelli recounts, “90% of positions (and virtually all those in the top ranks) were filled from within—and 96% of large companies dedicated an entire department to planning for workforce needs.” When companies need talent, he argues, the prestige of HR goes up; when labor markets go slack, HR returns to benefits administration.
BRUSSELS, Nov 29 : Almost half of all Europeans fear climate change more than losing a job or of a terrorist attack, a study by the European Investment Bank (EIB) showed on Thursday as EU lawmakers declared a “climate emergency”.
LONDON – At 3.6 percent, unemployment in the United States remains near its lowest level since the late 1960s. There are even signs that people who had previously dropped out of the labor force are being attracted back into it as employers scour a tight labor market for the marginal employee. Consistent with this news, US Federal Reserve Chair Jay Powell has pointed out that wage gains are finally accruing to lower-paid workers.
KATHMANDU, Nov 12: Shuvam Khatri, 24, is working in a construction company as a logistic officer for the past four months. His desperate hunt for a job to build a career in engineering sector almost went in vain until one of his uncles recommended him to the construction company he is currently working in.
SURKHET/JUMLA, June 11Although the current fiscal year is nearing end, many local units in the Karnali province have not yet readied the details of unemployed youths for the Prime Minister Employment Program (PMEP).
KATHMANDU, April 27: Nearly one million people, or 11.4 percent, out of the total working age population in Nepal are unemployed, according to a finding of the ‘Nepal Labour Force Survey (NLFRS) III’ carried out by the Central Bureau of Statistics (CBS).
ISTANBUL, April 15: Turkey’s unemployment rate surged to 14.7 percent in the December-February period, its highest level in almost 10 years, data from the Turkish Statistics Institute showed on Monday.
WASHINGTON, March 8: Job creation ground to a virtual halt in the United States last month as employers in a range of industries began to shed workers, but despite that the unemployment rate fell, the government reported Friday.
NEW DELHI, Feb 7: Hundreds of jobless young people marched Thursday through the streets of the Indian capital demanding Prime Minister Narendra Modi’s government tackle what they called a rising unemployment crisis.
NEW DELHI, Jan 31: India’s unemployment rate rose to a 45-year high during 2017-2018, the Business Standard newspaper on Thursday quoted a government survey as showing, in the latest setback for Prime Minister Narendra Modi just months before a tightening election.
WASHINGTON, Oct 6: The U.S. unemployment rate fell in September to 3.7 percent, the lowest since 1969, when young men were being drafted to fight in Vietnam and the American auto industry and the space program were going full blast.
CANBERRA, April 18: Australia will tighten temporary skilled migration visas, scrapping the current 457 program used by almost 100,000 people, as the country’s labor market weakens and anti-immigration sentiment spreads among developed nations.