Finance, tech firms on hiring spree amid coronavirus turmoil: LinkedIn

News Network
April 30, 2020

London, Apr 30: The coronavirus is roiling global job markets, but the picture is not all gloomy. Finance, technology and consumer goods firms are hiring tens of thousands in the United States and other countries, according to data from Microsoft Corp's professional networking site LinkedIn.

Across seven countries in North America, Europe and Asia, healthcare providers are among the busiest recruiters given the ongoing battle against the novel coronavirus, which has killed over 200,000 people and infected over 3 million people worldwide, LinkedIn said. But lifestyle changes during lockdown are also driving demand for financial consultants, factory workers, animators and game designers, and delivery workers.

Overall, the hiring rate has plunged in the first quarter from the year-ago period, and in late April remains lower than a year ago across most countries surveyed by the platform. But the data offer a glimmer of hope with a gradual uptick in China, where the coronavirus emerged last year and which leads the world in surfacing from a months-long lockdown.

LinkedIn, with over 690 million users worldwide, counts new hires when people add a new employer to their profile. The rate is the number of new hires divided by the total number of LinkedIn members in a country.

The figures, tracked since mid-February, are not corroborated by official jobs data and do not represent the actual number of jobs in an economy. Government figures are usually released with a time-lag of several weeks.

"We are confident that our data is directionally correct in that there has been a huge decline in hiring in the U.S. and abroad," Guy Berger, principal economist at LinkedIn in California, told Reuters.

Hiring in China plummeted 50% during the height of its coronavirus crisis in mid-February from 12 months earlier. Since restrictions were eased in early April, the hiring rate has inched up, and for the week ending April 24 was 3% lower than the same period in 2019.

Hiring in the United States, United Kingdom, France and Italy - which lead the world in coronavirus-related deaths - remains hugely depressed, but is falling less rapidly than a few weeks ago as the countries pass the peak of their epidemics.

Retailers including Walmart Inc, Amazon.com Inc and Instacart have said they would hire a total of over 700,000 workers to meet a surge in demand for groceries and household essentials during the coronavirus outbreak.

Coronavirus state-wise India update: Total number of confirmed cases, deaths on April 30

Consumer goods manufacturers such as Unilever, whose products include soap and shampoo, confirmed on Wednesday it was hiring to fill 300 jobs globally, but declined to elaborate.

Nestle told Reuters it was looking to fill 5,000 full-time U.S. positions in "a variety of levels across corporate and frontline."

Fidelity Investments, a Boston-based financial services firm, said it had accelerated recruitment because of the pandemic and was looking to fill at least 2,000 full-time roles for financial consultants, software engineers and customer service staff in the United States in 2020.

Companies hiring in the United States and other countries also include Apple Inc; ByteDance, the Chinese parent of video-sharing social network TikTok; Takeda Pharmaceutical Co Ltd; and aerospace and defence company Lockheed Martin Corp. These companies did not immediately respond to requests for comment.

DIRE WARNINGS

The International Labour Organization warned on Wednesday that 1.6 billion workers, or nearly half of the global workforce, especially in the informal economy, could lose their livelihoods.

Record numbers of people have applied for U.S. jobless benefits since mid-March, and the unemployment rate is expected to soar to 16%, White House economic adviser Kevin Hasset said this week, from a 50-year low of 3.5% before the pandemic hit.

Both Italy and France, in lockdown for nearly two months, have seen hiring rates drop by around 70% from a year ago, according to LinkedIn.

Since China is ahead of other countries on the pandemic timeline, improvements there could suggest the same is in store elsewhere, Berger said. Several American states and European countries have begun allowing some non-essential businesses and schools to reopen in the hopes of restarting the economy and allowing a gradual return to normal life.

"It's still slightly early to call it a firm recovery," Berger said, referring to improving prospects in China. "We're not expecting a full recovery but rather it's an indication that parts of the economy will switch on as lockdowns are eased, at least relative to the worst point of the pandemic."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 11,2020

Geneva, Jul 11: The World Health Organization said Friday that it is still possible to bring coronavirus outbreaks under control, even though case numbers have more than doubled in the past six weeks.

WHO chief Tedros Adhanom Ghebreyesus said the examples of Italy, Spain, South Korea and India's biggest slum showed that however bad a outbreak was, the virus could still be reined in through aggressive action.

"In the last six weeks cases have more than doubled," Tedros told a virtual press conference in Geneva.

However, "there are many examples from around the world that have shown that even if the outbreak is very intense, it can still be brought back under control," said Tedros.

"And some of these examples are Italy, Spain and South Korea, and even in Dharavi -- a densely packed area in the megacity of Mumbai -- a strong focus on community engagement and the basics of testing, tracing, isolating and treating all those that are sick is key to breaking the chains of transmission and suppressing the virus."

The novel coronavirus has killed at least 555,000 people worldwide since the outbreak emerged in China last December, according to a tally from official sources compiled by AFP on Friday.

Nearly 12.3 million cases have been registered in 196 countries and territories.

"Across all walks of life, we are all being tested to the limit," Tedros said, "from countries where there is exponential growth, to places that are loosening restrictions and now starting to see cases rise.

"Only aggressive action combined with national unity and global solidarity can turn this pandemic around."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 12,2020

May 12: Several Indians in the US, either on the H-1B work visa or Green Card having children who are American citizens by birth, are being prevented from travelling to India aboard the special repatriation flights being run by Air India amidst the coronavirus-linked global travel restrictions.

According to the regulations issued by the Indian government last month and updated last week, visas of foreign nationals and OCI cards, that provide visa-free travel privileges to the people of Indian-origin, have been suspended as part of the new international travel restrictions.

For some of the Indian citizens like the Pandey couple in New Jersey (name and place changed at request), it's a double whammy. Having lost their H-1B job, they have to go back to India within the stipulated 60 days as required by law. The couple has two kids aged one and six years who are American citizens.

In the wee hours of Monday, they had to return from Newark airport as Air India refused to give their kids a ticket to fly to India along with them, despite them having a valid Indian visa. The young mother and father are Indian citizens.

They said that the officials from Air India and (Indian) Consulate (in New York) were very cooperative.

Also Read: COVID-19: Top senators urge Trump to temporarily suspend all new guest worker visas, including H-1B

But they could not do anything as their hands were tied by the latest regulation issued by the Indian government, a shocked Ratna Pandey told PTI.

"I would like to urge the Indian government to reconsider their decision on the humanitarian basis," said the Indian national who has lost her job but could not leave the US within the stipulated 60 days to avoid any future visa complications.

She now plans to make an appeal to the US Citizenship and Immigration Services (USCIS) to extend their stay.

Last month, H-1B visa holders, mostly Indians, launched a White House petition urging US President Donald Trump to extend their permissible stay from 60 to 180 days after job loss. However, there has been no decision from the White House so far.

While there is no official statistics of how many Indian H-1B visa holders have lost their jobs, it is believed to be substantial.

The US, due to the coronavirus pandemic, is experiencing an unprecedented unemployment rate and more than 33 million Americans have lost their jobs in the last two months. Given this massive job loss, Indians, who have lost their jobs, are unlikely to get one and thus many would have no other option but to travel back home.

In the case of single mother Mamta (name changed), the situation is graver as her son is just three-month old. Only she was given the ticket and the infant was not allowed to fly along with her because he carried an American passport.

"I would like to request the Indian government to let us fly back home. I don't want to stay in the US any longer," she told PTI hours after being prevented from boarding her hometown Ahmedabad-bound flight from Newark on Sunday.

"I am alone here. I don't have a relative here. It's a difficult situation," she said.

"Vande Bharat Mission is a humanitarian mission. But this is certainly inhuman," said Rakesh Gupta (name changed) from Washington DC.

An H-1B professional, Gupta has lost his job and needs to return to India within the stipulated 60 days. He and his wife, Geeta (name changed) being Indian citizens, received the confirmation of their seats in the flight but have been told that their two-and-a-half-year-old daughter cannot travel with them as she carried an OCI card.

"I don't believe this," he said.

Unlike the Pandey couple and Mamta, who had made the payment of USD 1,361 per ticket for their flight back home, Rakesh has not made the payment. Air India has said that the money would be refunded.

All the three Indian citizens requested the Indian government to help them travel back home by making necessary changes in the current regulations.

As per a recent government notification, all existing Indian visa holders, and visa-free travel facility, granted to OCI card holders who are not in India, have been suspended till restrictions on international air travel remains.

New York-based community leader Prem Bhandari said that the May 5 travel advisory has created multiple painful issues for the OCI card holders in the US and also to Indian citizens who are either on Green Card or H-1B visas and want to travel back home, but cannot leave their kids who are Americans by birth.

"We would like to express our disappointment with the discrimination between OCIs and citizens in respect of entering India at this critical stage when many OCIs have lawfully built their homes, families and businesses in India," Bhandari said in a letter to Union Home Secretary Ajay Kumar Bhalla on Monday.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 8,2020

Washington, Jul 7: President Donald Trump on Tuesday formally started the withdrawal of the United States from the World Health Organization, making good on threats to deprive the UN body of its top funding source over its response to the coronavirus.

Public health advocates and Trump's political opponents voiced outrage at the departure from the Geneva-based body, which leads the global fight on maladies from polio to measles to mental health -- as well as Covid-19, at a time when cases have again been rising around the world.

After threatening to suspend the $400 million (Dh1.47 billion) in annual US contributions and then announcing a withdrawal, the Trump administration has formally sent a notice to UN Secretary-General Antonio Guterres, a State Department spokesperson said.

The withdrawal is effective in one year -- July 6, 2021 -- and Joe Biden, Trump's presumptive Democratic opponent, is virtually certain to stop it and stay in the WHO if he wins the November election.

A spokesman for Guterres and the global health body itself confirmed that the United States, a key founding WHO member, gave its notice.

In a speech earlier in the day, WHO chief Tedros Adhanom Ghebreyesus said of Covid-19, "National unity and global solidarity are more important than ever to defeat a common enemy."

In line with conditions set when the WHO was set up in 1948, the United States can leave within one year but must meet its remaining assessed financial obligations, the UN spokesman said.

'Total control'

In late May, Trump said that China exerted "total control" over the WHO and accused the UN body led by Tedros, an Ethiopian doctor and diplomat, of failing to implement reforms.

Blaming China for the coronavirus, Trump, a frequent critic of the UN, said the United States would redirect funding "to other worldwide and deserving, urgent, global public health needs."

Democratic lawmakers have accused Trump of seeking to deflect criticism from his handling of the pandemic in the United States, which has suffered by far the highest death toll of any nation despite the president's stated hope that the virus will disappear.

"To call Trump's response to Covid chaotic and incoherent doesn't do it justice," said Senator Robert Menendez, the top Democrat on the Foreign Relations Committee.

"This won't protect American lives or interests -- it leaves Americans sick and America alone," he wrote on Twitter.

Representative Ami Bera, himself a physician, said that the United States and World Health Organization had worked "hand in hand" to eradicate smallpox and nearly defeat polio.

"Our cases are increasing," Bera said of Covid-19. "If the WHO is to blame: why has the US been left behind while many countries from South Korea to New Zealand to Vietnam to Germany return to normal?"

Even some of Trump's Republican allies had voiced hope that he was exerting pressure rather than making a final decision to abandon the World Health Organization.

The investigative news outlet ProPublica reported last month that most of Trump's aides were blindsided by the WHO withdrawal announcement, which he made during an appearance about China. 

The Trump administration has said that the WHO ignored early signs of human-to-human transmission in China, including warnings from Taiwan -- which, due to Beijing's pressure, is not part of the UN body.

While many public health advocates share some criticism of the WHO, they question what other options the world body had other than to work with China, where Covid-19 was first detected late last year in the city of Wuhan.

The anti-poverty campaign ONE said the United States should work to reform, not abandon, the WHO.

"Withdrawing from the World Health Organization amidst an unprecedented global pandemic is an astounding action that puts the safety of all Americans the world at risk," it said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.