Good morning, in June last year, the highest ever temperature was recorded in the Arctic at 38C (100F), and all alarm bells have gone off.
It might look like stale data but with an 18 degree spike over average daily temperatures in the region, the recording required time taking verification, which has just been completed.
Cut to other things gaining heat, the job market across sectors is beginning to warm up, and the rich are making floating residences red hot.
😷↔😷
Hiring Trends For Q4, FY22
The last quarter of FY22 is almost about to start and with all the uncertainty around finding jobs or keeping one, we found a recent report that seems to put the fizz back in the soda.
But It's A Mixed Bag
Per ManpowerGroup's recent chats with 3,020 employers across key sectors, 64% job givers say that they will be hiring manpower in the last quarter of FY 22.
20% respondents said that employee levels would remain the same, while the balance 15% said that pink slips are in order, meaning headcount will be lowered in the coming quarter.
Net employment outlook - the difference between companies looking to hire and those expecting to fire - thus stands at 49%.
Getting Better Or Worse?
It's feeling better for sure. The hiring sentiment has improved 5% from Q3, FY22 [October-December 2021] and 43% when compared to Q4, FY21.
⚠ Most metrics when compared to 2020 look promising, which they are, but a real feel would be a comparison with 2019 numbers. We could not find that data in the report.
Where Are The Jobs?
Technology related roles are hottest: IT, telecoms, communications and media reported the strongest outlook (60%), followed by restaurants and hotels (56%) and banking, finance, insurance and real estate (52%).
Is It All Good?
No. While all 11 sectors surveyed reported positive intentions to add employees, the hiring forecast is least optimistic in the construction and primary production sectors, with the net employment outlook at 29% and 28%, respectively.
With core real estate products like offices and retail - accounting for most of a developer's recurring income - still a long way from full recovery, real estate and construction hiring could normalise by Q3, FY23, we reckon.
Tamil Nadu's Housing Now On Steroids
Tamil Nadu's construction sector contributed 18.3% to the Gross State Domestic Product and the government raked in a cool INR 5,973 crore from registration of houses and land alone.
But the best part is - the state's leaders understand that to maintain this momentum and to look good while doing it, housing policies need to become more flexible and accommodating.
Bye Bye To Unorganised Housing
The Tamil Nadu government aims to make the state hut free by 2031, and to get there they are ready to change old laws by bringing about radical technological and administrative changes.
These include:
- Amending the Tamil Nadu Town and Country Planning Act (TNTCPA), TN Apartment Ownership Act and TN Slum Areas Act. Under the TNTCPA, the government aims to increase the building plan permission validity from 5 to 8 years.
- Arrangements in place with private firms to build houses for workers and provide it on rent. PPP rental housing project aspirants, keep your ears to the ground.
Word On The Street
🎙 By November of this year, real estate projects in Tamil Nadu have grown by 17% showing positive signs for the future...
...to make Tamil Nadu hut free by 2031, the government has to work together with the private sector and ease building laws. - extracts from Tamil Nadu CM, MK Stalin's address at CREDAI's Statecon 2021.
Home Address? This Cruise Ship
Sometimes, black swan events can also have bizarre outcomes.
As the pandemic showed the world that work-from-home is a solid alternative to the office, the rich have quickly found a way to max out on the benefits of that recent discovery.
Say Hello To Floating Residences
To be seen across the seven seas from 2023, the Storylines’ MV Narrative will be a 741-foot-long and 98-foot-wide ocean liner with 547 residences onboard, ranging from 237 to 1,970 sq. ft.
The average starting price for an interior studio is USD1 million. The top end USD8 million residences are 1,970-square-foot penthouse suites with access to a private deck.
Apparently, living at sea offers city-weary luxury home shoppers a chance to buy real estate without buying the dirt.
Let That Sink In
Instead of offering plush cabins for temporary guests, residential vessels provide condominium suites as permanent residences—offering buyers an opportunity to live at sea and never call any port home.
The Narrative’s course will take it across six continents over a 1,000-day maiden voyage to circumnavigate the globe.
On board residents will have multiple days to explore most ports of call and, hold your finger out to be inked, have the opportunity to vote on whether to stay or sail for the next destination.
🤯 - ecommerce delivery guy with a COD package in hand.
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Extreme weather events in 2021 shattered records around the globe. Hundreds died in storms and heatwaves.
Farmers struggled with drought, and in some cases with locust plagues. Wildfires set new records for carbon emissions, while swallowing forests, towns and homes.
Find out more about nature's fury in this Reuters report.
See you tomorrow. 💚
☕ The Crew@Ginger Chai