StatusWire — Clear Updates for Your U.S. Journey

Why Saurabh Mukherjea advises to stop studying after class 12: 'Construction worker will earn twice...’

Livemint – News

1d ago

Summary

Saurabh Mukherjea, Founder and CIO of Marcellus Investment Managers, has scathingly attacked India's education system, calling it “ratta maaro and regurgitate in the exam”. Mukherjea contended that learning in India continues to revolve around memorisation rather than critical thinking. He further stated that India is failing to provide students with the skills required for today's rapidly evolving economy. He claimed that graduate employment outcomes remain weak, adding: “Out of every 100 graduates coming out of college, only three are getting a job in the year of their graduation.” He further stated that unemployment among graduates is significantly higher than among those with little or no formal education. According to Mukherjea, hiring trends indicate that employers are increasingly questioning the value added by university degrees. Referring to his book Breakpoint, he said some of India's highest earners are individuals who completed Class 12 and entered the workforce instead of pursuing higher education. To illustrate his point, Mukherjea cited examples from Mumbai's job market. He argued that many graduates seeking office-based employment may earn less than workers in skilled manual occupations. Her coverage frequently explores the struggles of startup founders, inspiring journeys of CEOs, and the experiences of candidates dealing with the complexities of visa processes. <br><br> Kanishka holds an undergraduate degree in Journalism from Delhi University and a diploma from the Indian Institute of Mass Communication. Stay updated with the latest Trending , India , World and US news.

From the source

Saurabh Mukherjea contended that learning in India continues to revolve around memorisation rather than critical thinking. Describing the prevailing approach, he said the system is built around 'rote learning.'

Read the full article

Published by Livemint – News on livemint.com

Open on livemint.com ↗

One chart shows AI's jobs impact — and how it compares to other tech advances

AI is reshaping how Americans work, but some research shows it's not destroying jobs on a large scale. Drazen_/Getty Images Yale Budget Lab researchers are tracking the impact of AI on the job market. They found that AI isn't causing major unemployment, and its impact is similar to the internet's early days. It's easy for job seekers to feel stuck in an AI doom loop . An analysis by Yale Budget Lab found that AI has had a modest impact on America's job market since the release of ChatGPT in 2022. Yale's team put it bluntly: AI usage has "no connection" to changes in employment or unemployment. Occupational churn, which measures growth and decline in the job market, however, is following a similar trend line to these other moments in tech history — not causing a massive reset. The Yale report also found that high AI exposure doesn't have a stark impact on how long job seekers are unemployed — those who have been out of work for less than 5 weeks have a relatively similar trend line to those who have been unemployed for 27 weeks or more. It's not to say that the job market is rosy. A lack of vacancies, widespread hiring freezes , and layoffs — which some CEOs say are somewhat related to AI — have boxed people of all ages out of offices.

businessinsider.com Read ↗

Record revenues. Record profits. Record revenue per employee. The Fortune 500 is richer than ever—and employing fewer people

Up and to the right: that’s the story of nearly all the collective data from the 2026 Fortune 500 , which ranks the largest U.S. companies by revenue. Together, the companies generated record revenue of $21 trillion, up 5% from a year ago. Fortune 500 headcount has declined before, but since 1995, when the Fortune 500 incorporated service firms for the first time , a downward trend has only taken place during or after a recession. A second labor-heavy retailer Nordstrom also fell off the list in a take-private deal; it employed 41,000 people. But for a group of companies that collectively employ tens of millions of people, employment among incumbent firms was, in fact, remarkably steady, growing only 0.1%. Headcount at No. 2 Walmart was flat, and at No. 3 UnitedHealth Group , employment dipped by 10,000, or 2.5%. Employment in the second-largest sector, technology, dropped 1% to 3.8 million, while the number of workers in the third-largest sector, financials, grew 0.9% to 3.5 million. Large firms have outsourced labor-intensive work while reaping technology’s huge productivity gains. “Those factors have meant the sales and value-added have gone up dramatically more than employment for the largest firms,” Katz says. Big companies hire “professional, talented individuals who are rewarded dramatically, but they’re not sharing…the huge productivity gains with this broader workforce in the way that old, often unionized manufacturing companies or even old-style banks [once did].” This continues a decades-long trend, and the math is stark: Fortune 500 companies are earning more revenue per employee—$687,094—and more profit per employee—$68,743—than ever before. But the upside is not necessarily reserved for the titans of industry that currently occupy the Fortune 500. “We are seeing a rise in new business startups, a flourishing of smaller scale enterprises, some of which may eventually become huge, but maybe, as they’re re-engineered to focus on AI agents as their main sort of workers, maybe they don’t end up having as large an employment imprint as traditional firms,” says Katz, adding a note of caution that we’re still in the early days of AI adoption.

Jobs & Hiring1d ago

Miserable K-shaped economy might actually be fading, as lower-income families bounce back, says Bank of America

Green shoots are appearing in the spending patterns of lower-income earners, with their consumption tracking up in recent days on goods and services excluding gas. The trend could signal the beginning of the end of the so-called a ‘K-shaped’ economy in which the spending and fortunes of upper-income earners rise, while those of lower earners fall. Bank of America’s Shruti Mishra has another theory for the optimism: “A recent Bank of America Institute report showed a rise in after-tax wage growth for lower- and middle-income households. It is still too early to confirm a sustained shift, as the recent improvement could partly reflect tax relief, but the data bear watching.” Improved job prospects would meaningfully boost the outlook for consumers, and here things seem to be looking up. The unemployment rate is holding steady (4.3%, according to the latest Bureau of Labor Statistics report ), with payroll giant ADP reporting private employers added 122,000 jobs in May. “Hiring was more broad-based in May than we’ve seen in the last few years. The labor market continues to show sustained momentum going into the summer hiring season,” Dr. Mishra noted that if K-shaped spending keeps narrowing, it could be due to job growth broadening into blue-collar sectors such as leisure and hospitality, and construction and manufacturing. The economist wrote: “Recent data provide some tentative evidence of this, alongside an improvement in professional and business services hiring after job losses throughout ’25, which disproportionately affected younger, lower-income workers.” “Potential drivers could be reduced tariff uncertainty, ongoing equity market strength, and consequently robust higher-income spending.” Indeed, the New York Fed has already discovered evidence that blue-collar workers are faring better at present than some counterparts. The regional Fed’s latest wage inflation report found that most, but not all, industries have seen a synchronized decline in wage growth since October 2022, with the notable exceptions of two sectors: public administration and mining and construction. The mining and construction sector has been more consistent and persistently stronger than the rest of the economy, the report adds, which could be related to the construction of AI data centers, with sustained demand fueling wage growth.

fortune.com Read ↗

Why Saurabh Mukherjea advises to stop studying after class 12: 'Construction worker will earn twice...’

From the source

More in Jobs & Hiring

One chart shows AI's jobs impact — and how it compares to other tech advances

Record revenues. Record profits. Record revenue per employee. The Fortune 500 is richer than ever—and employing fewer people

Miserable K-shaped economy might actually be fading, as lower-income families bounce back, says Bank of America