According to a recent survey, economists believe that inflation in the United States will reach the Federal Reserve's 2% target ahead of schedule, in early 2025. This prediction closely follows the central bank's own projections released last week, which also included a slight increase in the unemployment rate by the end of next year. The survey highlights the potential impact of the Fed's monetary policies on the economy, as inflation and interest rates continue to be closely monitored by investors and businesses alike.
Leader of Opposition in the Lok Sabha, Rahul Gandhi, took to social media to criticize the BJP for the rising unemployment in Haryana, which has forced many youth to migrate to foreign countries. He shared a video of his interaction with Haryanvi immigrants in the US, who talked about their struggles in a foreign land. Gandhi pointed out how the families of these migrants are paying the price of the BJP's failures with their absence and how lack of opportunities is affecting generations to come.
Congress leader Rahul Gandhi has highlighted the plight of Haryana's youth forced to migrate abroad for employment opportunities due to the BJP-led government's failure in providing jobs. Using the term "Dunki," Gandhi's tweet and accompanying video emphasize the struggles faced by youth in search of work and the resulting consequences for their families. He pledges to address this issue if the Congress forms a government in Haryana, putting a spotlight on employment ahead of the state's upcoming elections.
The Congress party has slammed the BJP's manifesto for the Jammu and Kashmir Assembly polls, accusing it of being a "jumla patra" and using false promises to gain sympathy. The manifesto, released by Union Home Minister Amit Shah, promises 25 guarantees including the restoration of 100 "ruined temples" and the creation of five lakh jobs. However, the Congress points out that these proposals were not considered during the BJP's tenure in the state and the party dismisses them as empty promises. The Congress also highlights the difficulties faced by the public under the BJP's rule, including heavy taxes, unemployment, and inflation.
In a district-level employment and loan fair, Uttar Pradesh Chief Minister Yogi Adityanath distributed appointment letters to 5,000 youths and loans worth Rs 30 crore to selected beneficiaries and MSME entrepreneurs. He also provided 1,000 tablets and smartphones to the younger generation, as part of the Swami Vivekananda Yuva Sashaktikaran Yojana. This event marked a crucial step towards tackling unemployment in the western UP region and empowering the youth to contribute to the local economy.
The latest data from the Periodic Labour Force Survey (PLFS) released by the government shows that India's urban unemployment rate for individuals aged 15 years and above has remained steady at 6.6% in the first quarter of the current fiscal year. This rate reflects a marginal improvement from the previous quarter, suggesting a potential stabilization in the urban job market amidst economic challenges. The survey also highlights gender disparities in employment, with men more likely to secure jobs than women. These findings highlight the need for continued efforts to create jobs and achieve gender parity in the workforce.
In a highly anticipated decision, the Federal Reserve has announced that it will maintain its policy rate at the range of 5.25%-5.5%. In a post-meeting press conference, Federal Reserve Chairman Jerome Powell addressed questions and the market's response to the decision. While acknowledging a slowdown in consumer spending and stalled investment in the housing sector, Powell reassured that the labor market remains strong and balanced, with the unemployment rate remaining low. He emphasized the Fed's commitment to a "restrictive stance" and attentiveness to risks on both sides of the dual mandate. Stay tuned for our live coverage of the market reaction to the Fed's decision.
In a heated discussion regarding the Union Budget 2024, Leader of the Opposition (LoP) Rahul Gandhi mentioned the ancient battle formation of Chakravyuha to illustrate how the current government is failing to address issues such as unemployment and paper leaks. Drawing parallels between the famous Mahabharata story and the current political climate, Gandhi criticized the concentration of power in the hands of a select few individuals, undermining the democratic structure of the country. He also highlighted the budget's focus on strengthening this "Chakravyuha" by aiding big businesses, while neglecting the needs of youth, farmers, and small businesses.
Chaos ensued at a private company's job interview in Gujarat's Bharuch district as 1,800 people showed up for just 10 vacancies, resulting in a rush that caused a steel railing to collapse and several people to fall. The videos have now gone viral, with the Congress blaming the incident on the ruling BJP and their touted Gujarat model, while an MP from the BJP has shifted the blame onto the company. The incident has raised concerns about growing unemployment and the failures of the Gujarat model.
Amidst the upcoming assembly polls in the state, Haryana Congress has launched a campaign to highlight the alleged failures of the BJP government. State Congress chief Udai Bhan, along with other party leaders, announced the 'Haryana Maange Hisab Abhiyan', targeting issues such as unemployment, law and order, and farmers' problems. According to senior Congress leader Birender Singh, the BJP has been unable to understand Haryana's social and political dynamics, leading to a rise in unemployment and crime. The Congress plans to take this message to all 90 assembly constituencies.