formal job creation

Anthropic's Boris Cherny, creator of Claude Code, says software engineering is already dead inside his own company—no one writes code by hand anymore, and Claude AI instances autonomously communicate over Slack to resolve problems across teams. As Google, Meta, Amazon and Snap race to set aggressive AI coding targets, Cherny believes IDE tools like VS Code and Xcode are next to disappear—and Anthropic CEO Dario Amodei's "centaur phase" warning suggests the window for human coders is closing fast.

Can every worker afford the economy that they keep running?

Bengal has witnessed a seismic political shift as the BJP surged to power, unseating Mamata Banerjee's Trinamool Congress after 15 years. The saffron party secured a decisive victory, breaching the majority mark and fulfilling Amit Shah's ambitious target. This marks a significant change in the state's political landscape, ending decades of Left and TMC dominance.

Gen Z is navigating a complex financial landscape, balancing early earning and investing with impulsive spending and trend-driven bets. While digitally savvy and embracing new tools, they often overlook essential safety nets like insurance. Experts urge a shift from quick gains to disciplined, long-term wealth building, splitting finances strategically for stability.

In this interview, economist Ajit Ranade explains why the anger in Noida ran deeper than one wage hike. At the heart of it, he argues, are stagnant incomes, contract labour, rising prices, and a factory economy built on persistent insecurity

In Northern Ireland, the newly introduced 'Good Jobs Bill' aims to fortify worker protections, particularly by prohibiting zero-hour contracts. However, this initiative has sparked fierce resistance from business executives, who express concerns about its potential to hinder job growth and deter investment. They call for a postponement to allow for thorough examination of the bill.

The ongoing TCS Nashik scandal reveals something disturbing; that the systems meant to protect don’t always do; and might betray instead as well. Two millennia ago, Valluvar had warned us about such a situation, in the context of kingdoms. Listen to this week’s episode to know more.

High-level talks are underway in Pakistan between US and Iranian delegations. The discussions aim to secure a ceasefire and find a path to lasting peace. Key points on the agenda include the situation in Lebanon, control of the Strait of Hormuz, Iran's nuclear program, and sanctions relief. Troop withdrawal from the region is also a significant demand.

Women are actively investing in India, moving beyond traditional savings. While participation in mutual funds and equities is rising, independent control over financial decisions, particularly tax planning, is still developing. Younger women show greater comfort with digital platforms and goal-based investing. This shift signifies a growing financial awareness and engagement across the nation.

Guwahati is transforming into a vibrant urban center, with a booming nightlife, a growing cafe culture, and increased employment in hospitality. Infrastructure development, including new bridges and a cable car, is enhancing mobility. The region is also witnessing a shift from insurgency to industry, with significant investments in bio-ethanol and semiconductor plants, fostering economic growth and job creation.

Meta has set minimum AI coding targets for engineers across divisions, with some teams expected to write over 75% of their code using AI tools like Metamate and Google Gemini. The company has also restructured parts of Reality Labs into small AI "pods" with new job titles. The AI push comes alongside layoffs that hit hundreds of employees this week across multiple divisions.

India's formal job sector is booming, with projections indicating a record-breaking 14.5 million net additions in fiscal year 2024-25, surpassing previous highs. While new EPFO registrations have dipped, possibly due to lack of incentives, increased formalization driven by wage digitization is fueling job growth. Government initiatives like employment-linked incentives are expected to further boost establishment registrations.

Net formal job creation under EPFO has declined for two consecutive years through FY25, falling from its FY23 peak. Revised data indicates 12.9 million jobs were created in FY25, down from 13.1 million in FY24 and 13.8 million in FY23, which was boosted by the ABRY scheme. Experts are concerned that this decline doesn't align with India's strong economic growth.

Net employment generation in the formal sector was higher at 8.14 lakh in March 2019 against 7.88 lakh in February this year, according to the latest EPFO payroll data. Around 67.59 jobs were generated in the entire 2018-19 fiscal, the payroll data based on members joining the schemes of the Employees' Provident Fund Organisation showed.

Finance minister introduces 3 new schemes to enhance employment through EPFO, with a total outlay of Rs 1.07 lakh crore. Schemes aim to benefit first-time employees, encourage job creation in manufacturing sector, and support employers for additional employment. EPFO records highest net addition of 19.50 lakh members in May 2024, with significant growth in 18-25 age group.

Formal employment under ESIC witnessed a significant surge in March, with new job creation rising by 5.79% to 1.63 million. A notable 33.9% increase in establishments joining ESIC's social security umbrella was observed, alongside strong youth employment and encouraging female participation. The organization also recorded registrations of transgender employees, highlighting its commitment to inclusivity.

Creating a fertile habitat for private, non-farm, formal job creation needs the budget to fix four things.

The Indian Staffing Federation urges the finance ministry to lower the GST rate on employment services from 18% to 5%. ISF argues this reduction would boost formal job creation, enhance competitiveness in sectors like healthcare and retail, and align with national employment goals. They believe the fiscal impact would be minimal while promoting formalization and expanding the tax base.

New Delhi, Jul 28 () New wage code bill will hamper formal job creation in the country and impact the overall hiring scenario, say experts. The Union Cabinet on July 26 approved the new wage code bill which will ensure a minimum wage across all sectors by integrating four labour related laws.

Finance Minister Nirmala Sitharaman, in her seventh budget, emphasized job creation and skill development amidst challenges from various sectors and political pressures. She delivered the budget with a focus on providing more employment opportunities, a persistent challenge for the Narendra Modi government, despite its ongoing efforts in infrastructure and manufacturing incentives. The prioritization of job creation and skill development reflects the government's continued aim to address employment needs across the country. This emphasis comes in the face of growing demands from different industries and the political landscape.

The job market is looking forward to a big boost from the new GST regime and expects over one lakh immediate new employment opportunities, including in specialised areas like taxation, accounting and data analysis.

New Delhi, Jun 25 () The job market is looking forward to a big boost from the new GST regime and expects over one lakh immediate new employment opportunities, including in specialised areas like taxation, accounting and data analysis.