TMS Ep300: India's job market, EV scooter, Markets, MAC

On the heels of Twitter, Facebook parent Meta Platform too has announced massive job cuts. More than 11,000 employees are being asked to leave. Google, Microsoft, Amazon and Apple have already hit the pause button on hiring. Fear of recession in the US is forcing tech giants to tread carefully. The Indian job market too is facing some heat, especially in the IT services. A report said that there was a 50% reduction in job openings in IT services when compared to last year. But, recent CMIE data says that overall salaried jobs are on the rise. So how does the IT piece fit in the larger job market puzzle? 

A good jump in vehicle sales is as good an indicator of economic turnaround, as the thriving job markets. The sales of electric two-wheelers saw an impressive 44% jump in October from the previous month. Ola electric was the market leader, followed by Okinawa. A look at the sales data suggests that the Indian EV market is witnessing a consolidation now. 

Moving on, the US midterm elections have historically marked bullish pivot points for the stock market, notwithstanding the outcome. In 17 of the 19 midterms since 1946, stocks performed better in the six months following the election than they did in the six months leading up to it. Will this time be any different? And will this money chase Indian equities as well? 

The US on Tuesday reassured the world that it will stick to its energy transition goals even if Republicans win the midterm polls. The same day, India joined the newly-formed Mangrove Alliance for Climate (MAC) at the ongoing UN climate conference in Egypt. What is this alliance? And what does it plan to achieve? This episode of the podcast tells more.