NZ air transport industry hardest hit by Covid

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Wellington, Oct 28 | The air transport industry in New Zealand employed 35 per cent fewer people in February 2021 compared with February 2020, when the Covid-related travel restrictions were not yet in place, the country’s statistics department Stats NZ said on Thursday.

This was the biggest percentage drop in employment for any industry at subdivision level in the year to February 2021, reports Xinhua news agency citing the department as saying.

“The country’s international borders remained closed for quarantine-free travel for most of this period, while domestic air travel was severely affected by lockdowns, regional travel restrictions, and the lack of international tourists,” statistical business register manager Stuart Pitts said.

At February 2021, there were 370 enterprises engaged in air transport –a drop of 10 from February 2020.

The total number of enterprises in New Zealand edged up 0.5 per cent to 562,520 during the year to February 2021, while the number of employees fell 0.4 per cent to 2.31 million.

“Though the overall business counts moved within a narrow range, there was a wide variation in how different industries fared over the first 12 months of the Covid-19 pandemic,” Pitts said.

Transport was one of the worst-affected industries, particularly in terms of the number of people employed.

In February 2021, the industry subdivision “other transport”, which includes the scenic and sightseeing transport industry, had 32.4 per cent fewer employees than in February 2020.

The number of enterprises engaged in road transport was down 10.1 per cent during the year. Within road transport, road passenger transport was particularly affected with enterprise and employee numbers declining by 22.1 per cent and 13.8 per cent, respectively.

Businesses in the accommodation industry also bore the brunt of the Covid-19 pandemic. Accommodation providers in New Zealand employed 26,700 people in February 2021 — a 23.5 per cent drop from the previous year.

The gambling activities industry was also badly affected by the Covid-19 restrictions, with 5.0 per cent fewer enterprises and 24.6 per cent fewer employees in February 2021 compared with February 2020.

Construction was at the forefront of industries that went against this declining trend.

The building construction industry had 6.4 per cent more enterprises and 6.5 per cent more employees in February 2021 than in February 2020.

The construction services industry, which includes services such as site preparation, plumbing, electrical and landscaping, had 3.9 per cent more enterprises and 6 per cent more employees than in February 2020.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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