Kazakhstan - UnemploymentOfficial GDP data confirmed that the oil-dependent economy grew 4.0% in 2017, escaping the grips of a marked slowdown amid falling oil prices in 2016, when it expanded just 1.1%. The noteworthy turnaround came on the back of a boost to oil production, encouraged by an upturn in oil prices. A robustly performing Eurozone and the recovery in Russia, which are among Kazakhstan’s top trading partners, also aided the substantial pick-up. Recent data points to a promising start to 2018, although the economy likely lost pace. Economic activity rose at a solid, but slower, rate in January compared to December. Retail sales continued growing strongly in January against a steady level of unemployment and falling inflation, but the rate of expansion fell by almost half from the previous month. Growth in industrial output was broadly stable in the same month, dipping marginally from December.
Kazakhstan - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Kazakhstan Unemployment Chart
Source: Agency of Statistics
|Exchange Rate||321.2||0.32 %||Mar 12|
|Stock Market||0.1||0.0 %||Mar 12|
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Kazakhstan: Market analysts are taken by surprise as Central Bank cuts the base rate for second time this year
March 5, 2018
At its 5 March monetary policy meeting, the National Bank of Kazakhstan opted to cut the one-day repo rate—also known as the base rate—by 25 basis points to 9.50%, with a corridor of plus or minus 1.0%.
Kazakhstan: Inflation continues on downward trend in February
March 1, 2018
Consumer prices rose 0.7% over the previous month in February, marginally up from a 0.6% month-on-month increase in January.
Kazakhstan: Economy grows at the fastest pace in three years in 2017
February 20, 2018
A preliminary estimate shows that economic growth accelerated markedly in 2017 to 4.0%, up from 1.1% in 2016, thanks to buoyant oil production and new transportation projects.
Kazakhstan: Industrial production growth moderates slightly in January
February 16, 2018
Industrial output rose 5.2% over the same month of the previous year in January.
Kazakhstan: Inflation drops to over two-year low in January
February 2, 2018
Consumer prices climbed 0.6% over the previous month in January, a marginally smaller increase than the 0.7% month-on-month rise in December.
Unemployment in India is a social issue and unemployment records in India are kept by the Ministry of Labour and Employment of India.
Union Ministry for Labour and Employment claimed national unemployment hovers around 3.7 percent in 2015-16. However, the data is based on usual principal subsidiary status (UPSS) approach that requires only 30 days of work in a year to call the person employed. Seventy-seven percent of the families reportedly have no regular wage earner and more than 67 percent have income less than ₹10,000 per month. Around 58 percent of unemployed graduates and 62 percent of unemployed post graduates cited non-availability of jobs matching with education/skill and experience as the main reason for unemployment. As per the National Skill Development Mission Document, as much as 97 percent of the workforce in India has not undergone formal skill training. About 76 percent of the households did not benefit from employment generating schemes like MGNREGA, PMEGP, SGSY, SJSRY, etc.
A significant change in inequality in income and wealth is possible only in a longer term prospective. Employment structure of an economy is the normal instrument that can cause a change in inequality either way i.e. an increase or a decrease in inequality. Since the government functions within the administrative and fiscal constraints, the target group programmes normally have a marginal impact on income redistribution. Income of labour enables flow of resources across income classes of people and across the social and ethnic groups. Flows of income across locations are influenced both by assets available and modes of creating employment opportunities. However, income generated by employment of migrant labour, facilitates flow of resources across regions of a given regional distribution of capital assets. Employment and equity of income across classes of people and across regions are therefore, closely related to each other in the long term.
According to India Skills Report launched in the 3rd CII National Conference on Skill Development, 96 percent were found unemployable out of 100,000 candidates. The Report not only captured the skill levels of talent pool but also brought out the hiring estimates across major Industry sectors in the country. The report also brings out a general trend amongst the employers to look for skills rather than qualifications in candidates.According to NSS (66th Round) Report from Ministry of Statistics and Programme Implementation, Government of India published on 2013
Steps taken by the Government
Mahatma Gandhi National Rural Employment Guarantee Act 2005
The Government of India has taken several steps to decrease the unemployment rates like launching the Mahatma Gandhi National Rural Employment Guarantee Scheme which guarantees a 100-day employment to an unemployed person in a year. It has implemented it in 200 of the districts and further will be expanded to 600 districts. In exchange for working under this scheme the person is paid 150 per day.
Apart from Employment Exchange, the Government of India publishes a weekly newspaper titled Employment News. It comes out every Saturday evening and gives detailed information about vacancies for government jobs across India. Along with the list of vacancies, it also has the notifications for various government exams and recruitment procedures for government jobs.
Steps taken on Disguised Unemployment
Agriculture is the most labour absorbing sector of the economy. In recent years, there has been a decline in the dependence of population on agriculture partly because of disguised unemployment. Some of the surplus labour in agriculture has moved to either secondary or the tertiary sector. In the secondary sector, small scale manufacturing is the most labour absorbing. In case of the tertiary sector, various new services are now appearing like biotechnology, information technology and so on. The government has taken steps in these sectors for the disguised unemployed people in these methods.
National Career Service Scheme
The Government of India has initiated National Career Service Scheme whereby a web portal named National Career Service Portal (www.ncs.gov.in) has been launched by the Ministry of Labour and Employment (India). Through this portal, job-seekers and employers can avail the facility of a common platform for seeking and updating job information. Not only private vacancies, contractual jobs available in the government sector are also available on the portal.