ET NEWS

The U.S. economy likely created 911,000 fewer jobs in the 12 months through March than previously estimated, the government said on Tuesday, suggesting that job growth was already stalling before President Donald Trump's aggressive tariffs on imports. Economists had estimated that the Labor Department's Bureau of Labor Statistics could revise the level of employment from April 2024 through March 2025 down by between 400,000 and 1 million jobs. The level of employment for the 12 months through March 2024 was downgraded by 598,000 jobs. The reading is a preliminary estimate of the BLS' annual "benchmark" revision to closely watched payrolls data. Once a year, the BLS compares its non-farm payrolls data, based on monthly surveys of a sample of employers, with a much more complete database of unemployment insurance tax records, the Quarterly Census of Employment and Wages (QCEW) data. A final benchmark revision will be released in February along with the BLS' employment report for January. Government statisticians will use the final benchmark count to revise payroll data for the months prior to and after March. The payrolls benchmark revision followed on the heels of news last Friday that job growth almost stalled in August and the economy shed jobs in June for the first time in four and a half years. In addition to being hobbled by uncertainty stemming from trade policy, the labor market has also been pressured by the White House's immigration crackdown, which has undercut labor supply. A shift by businesses to artificial intelligence tools and automation also is curbing demand for workers. Economists saw little impact from the employment growth revision on monetary policy, with the Federal Reserve expected to resume cutting interest rates next Wednesday after pausing its easing cycle in January because of uncertainty over the impact of tariffs. 'ACCURATE, INDEPENDENT AND TRUSTED' The monthly employment report is based on data derived from the Current Employment Statistics (CES) program, which surveys about 121,000 businesses and government agencies, representing about 631,000 individual worksites. The QCEW data is derived from reports by employers to the state unemployment insurance programs, and represents about 95% of total employment. Sharp downgrades last month to May and June employment figures totaling 258,000 jobs angered Trump, who fired BLS Commissioner Erika McEntarfer, accusing her, without evidence, of faking the employment data. Trump has nominated E.J. Antoni to replace McEntarfer. Antoni, who has penned opinion pieces critical of the BLS and even suggested suspending the monthly employment report, is viewed as unqualified by economists across the political spectrum. The National Association for Business Economics on Monday urged "policymakers, business leaders, and the economics community to stand with BLS and ensure that America's statistics remain accurate, independent, and trusted worldwide." Economists have attributed the revisions to the "birth-and-death" model, a method the BLS uses to try to estimate how many jobs were gained or lost because of companies opening or closing in a given month. These companies are not initially available for sampling.

NDA’s candidate CP Radhakrishnan on Tuesday won the Vice Presidential election, defeating the INDIA bloc’s nominee, former Supreme Court judge B. Sudershan Reddy, by a sweeping majority.The NDA-backed candidate secured a clear majority in the election and won a total of 452 votes. By comparison, Dhankhar had won in 2022 with 528 votes, while Venkaiah Naidu claimed victory in 2017 with 516.Polling for the election began at 10 a.m. in Parliament, with Prime Minister Narendra Modi casting the first vote of the day. Voting continued through the afternoon before counting commenced in the evening. The outcome, announced late on Tuesday, reflected the NDA’s numerical advantage in both Houses of Parliament.Also Read: NDA nominee CP Radhakrishnan defeats INDIA bloc's B Sudershan Reddy to win Vice Presidential pollRadhakrishnan’s win was expected, with the NDA commanding support from well over the majority mark of 391 MPs. His margin over Justice Reddy has sent a message on the ruling bloc’s strength in Parliament, even as some regional parties chose to abstain from the contest.Who is CP Radhakrishnan?Born on October 20, 1957, in Tiruppur, Tamil Nadu, Chandrapuram Ponnusamy Radhakrishnan has spent over four decades in public life and politics. He holds a Bachelor’s degree in Business Administration and began his career as an RSS swayamsevak, later joining the Bharatiya Janasangh in 1974 as a state executive member.Also Read: VP Elections 2025: Who is Sudershan Reddy? Meet the INDIA bloc candidate who lost to NDA's RadhakrishnanRadhakrishnan entered national politics as a BJP Member of Parliament from Coimbatore, elected in 1998 and 1999, and served on key parliamentary committees including the Standing Committee on Textiles and the Committee on Public Sector Undertakings. He was also part of the Special Parliamentary Committee probing the Stock Exchange Scam and represented India at the UN General Assembly in 2004.At the state level, he served as President of BJP Tamil Nadu (2004–07), undertaking a 19,000 km Ratha Yatra over 93 days to promote causes like river linking, uniform civil code, eradication of untouchability, anti-terrorism measures, and anti-narcotics initiatives. Later, he was Chairman of the Coir Board, oversaw record export growth, served as All-India BJP in-charge for Kerala (2020–22), and held gubernatorial roles in Jharkhand, Telangana, Puducherry, and Maharashtra.Known as a sports enthusiast, he was a college champion in table tennis, a long-distance runner, and enjoys cricket and volleyball. Radhakrishnan has also travelled extensively across Europe, Asia, and North America, reflecting a blend of grassroots activism, parliamentary experience, and administrative leadership.The Political Battle: NDA vs INDIA BlocThe Vice Presidential election Tuesday was marked by a significant contest between the ruling NDA and the opposition INDIA bloc. Prior to the election, the NDA held a clear numerical advantage, with 427 MPs supporting Radhakrishnan—well above the majority mark of 391. In contrast, the INDIA bloc's candidate was backed by 354 MPs, comprising 249 in the Lok Sabha and 105 in the Rajya Sabha. Several parties, including the Biju Janata Dal (BJD), Bharat Rashtra Samithi (BRS), and Shiromani Akali Dal (SAD), chose to abstain from the election, further consolidating the NDA's lead. The INDIA bloc positioned the election as an ideological battle, emphasising the need for a Vice President who would uphold democratic values and institutional independence. Justice Reddy's nomination was seen as a move to counterbalance the NDA's influence. However, the opposition's efforts were hampered by internal divisions and the NDA's overwhelming support base, as was suggested by MPs, politicians representing the ruling base.

Eight out of the ten most widely held stocks by retail shareholders are trading in the red so far in the July-September 2025 quarter. Data from this period highlights a concerning pattern: despite strong popularity among retail investors, most of these stocks have failed to deliver positive returns. It’s important to note that retail shareholding figures are based on the June 2025 quarter and represent individual shareholders holding nominal share capital up to Rs 2 lakh.Bucking the trend, leading the pack in retail shareholder count is Tata Motors, one of only two stocks among the top ten that have posted modest gains. Tata Motors recorded a 4.5% rise in just over two months of trading so far in Q2FY26. The other Tata Group stock in the green is Tata Steel, which grew by 5.7% during the same period.The list of top stocks by retail holders, drawn from the BSE 500 index, includes well-known names such as Reliance Industries, Yes Bank, and Suzlon Energy, many of which disappointed investors by reporting negative returns despite robust retail interest. 123784870Key Insights from the Data:Retail Flock vs. Share Price Performance: Tata Motors leads with over 66 lakh retail shareholders and holds around 65 crore shares. The stock showed resilience with a 4.55% gain. Interestingly, Yes Bank, with the second-highest retail holder count of 62.6 lakh and the largest shares held by retail investors (706 crore), recorded only a marginal decline of 0.84%. This shows that even large retail participation doesn’t guarantee strong price movement.Steep Losses for High Retail Stocks: Suzlon Energy and Indian Railway Finance Corporation stand out for their steep declines of 15.26% and 12.10%, respectively. Both have over 54 lakh retail shareholders, reflecting a significant investor base facing losses, highlighting the risks involved in following popular stocks blindly.Tata Group’s Strong Showing: Three Tata Group companies — Tata Motors, Tata Steel, and Tata Power — dominate the retail investor list. While Tata Motors and Tata Steel posted gains, Tata Power dipped 5.49%, showing mixed performance within the group.Energy Sector Pressure: Apart from Suzlon Energy and Tata Power, two more energy sector companies, NTPC and NHPC, also saw declines of 2.48% and 8.39%, respectively, indicating sector-wide challenges impacting retail investors.Reliance Industries’ Surprising Dip: Reliance Industries, often considered a blue-chip and relatively stable investment, fell 8.12% during the quarter. This underperformance despite having over 42 lakh retail holders reflects broader market volatility and profit-taking.Also Read: Urban Company IPO GMP rises to 28% ahead of launch. Should You Apply?What This Means for Retail InvestorsThis trend is a cautionary signal for retail investors who may be attracted to stocks solely based on popularity or the sheer number of retail holders. High retail ownership does not automatically translate to strong price performance or guaranteed profits. Experts advise retail investors to look beyond popularity and conduct in-depth research focusing on company fundamentals, sector outlooks, and macroeconomic factors. In volatile markets, relying on crowd behaviour without analysis can lead to unexpected losses.