Jobs growth at its slowest pace in seven quarters
Jobs in eight labour-intensive sectors rose 0.23% sequentially in the October-December quarter, the slowest in seven quarters, as industrial slump forced companies to cut flab even as export-oriented sectors increased hiring to cash in on a weak rupee to grab a higher share in overseas markets. Overall, employment was up by 83,000 in October-December, which is lower than 1.43 lakh in July-September and 86,000 in April-June last fiscal, the latest quarterly survey by the Labour Bureau showed.
Jobs in eight labour-intensive sectors rose 0.23% sequentially in the October-December quarter, the slowest in seven quarters, as industrial slump forced companies to cut flab even as export-oriented sectors increased hiring to cash in on a weak rupee to grab a higher share in overseas markets. Overall, employment was up by 83,000 in October-December, which is lower than 1.43 lakh in July-September and 86,000 in April-June last fiscal, the latest quarterly survey by the Labour Bureau showed.
Read the Financial Express news report here.
