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Foreign jobs in jeopardy, oil price fluctuation increases the risk

Picture Courtesy: HT

New Delhi: The data of 2016 shows a steep fall in the numbers of jobs for Indians in the west as well as in Gulf. When Countries like the United States and Austrailia abolished many visas for security reasons, on the other hands Gulf jobs also were taken away.

According to a news report in Hindustan Times, there is a 33% fall in the blue-collared job for Indians in Six Gulf countries. Whereas, the United States and Australia put political restrictions on Indians getting jobs in the software domain.

A Diplomat from a Gulf country showed that there was a loss of total capital, as people who worked in those countries would send a good amount of their income to their home.

The World Bank, on Friday, said that India has observed an 8.9% dip in money sent back by its citizens from other countries in 2016, which is a sharp decline as compared to the 1% drop in the previous year.

India has also seen $69.6 billion in remittance from 2014 dropped to $68.9bn in 2015 and further fell down to $62.7bn last year. There was a continual decrease in the money sent to India by its citizen in the last three years consecutively.

The data also reveals that only half as people in 2016 got the job in Saudi Arabia as in 2015. “I lost two jobs in Gulf back to back, due to which I returned to Kerala.” Satheesh Kurup said. The decrease in the price of the oil to $40 per barrel has also fanned the unemployment.