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Explained: What is ‘rage applying’ and why it is the newest trend?



Move over quiet quitting and moonlighting, rage-applying is dominating the internet space now, quite literally. The trend which reportedly took off after a Tik Tok video went viral, means exactly what it says. Gen Z and millennials are aggressively shooting off applications in search of better pay and work environments. Read on to know why.

What is all the rage about?

2022 was defined by quiet quitting and moonlighting, the concept of doing the bare minimum at your workplace or “acting your wage” and taking up a second job, typically secretly, respectively.

‘Rage-applying’ is supposedly taking charge of your unhappy professional life and channelling the frustration into getting back at your unfair bosses by applying to scores of vacant positions. It aims to realise your worth and attach a quantitative value to it with respect to your career.

Last December, a Canadian Tik Tok user Redweez, a social media marketeer, shared her experience of applying to 15 jobs after being angry at her workplace and subsequently landing a job with a $25,000 hike. Garnering millions of views, many users are vouching for the trend by sharing their successful stories of securing jobs with hefty hikes and perks. Christen, another TikToker, also went viral for bagging a 20 per cent raise by rage-applying. “Rage on,” users cheered on in the comment section.

I’m making almost 30k more a year bc of rage applying 🤣 DO ITTTT

— Jas ⚡️ (@Jasminnhere) January 5, 2023

Why the aggression?

The cost of a good quality of living in the present times is at an all time high with reports of a looming recession, massive layoffs across sectors, economic slowdown amid the raging Russia-Ukraine war, record-level inflation and high borrowing costs leading to the disillusion amongst the young workforce. Adding to the woes, stagnancy, dissatisfaction and a poor work-life balance are forcing individuals to literally flee from their previous toxic jobs.

The people who have resorted to rage-applying have complained of being unfairly treated by managers and ignored during promotion cycles and appraisals. Coupled with less disposable income in hand after expenditures for the increasingly expensive essential items, job seekers are desperate for fat paychecks.

However, for the current generation, it’s not just about the money. According to a report by the Society for Human Resource Management, Gen Z, being the “most ethnically and racially diverse generation”, wants meaningful jobs that give them a sense of purpose, along with fair pay.

A 2022 report from Gallup, an analytics and advisory company, stated that only 21 per cent of employees were actively involved in their work while stress was at an all-time peak with 44 per cent workers saying they underwent a huge amount of stress the previous day.

Since the ‘instant-messaging’ generation is more averse to difficult conversations over phones with their bosses regarding issues faced at work, they prefer the more comfortable route of ghosting employers or quiet quitting, a Forbes report quoted Alison Papadakis, the director of clinical psychological studies at Johns Hopkins University.

Are there cons to rage-applying?

Although many on the internet have claimed to have benefitted from rage-applying, experts say that a decision taken in a “fit of rage” may not be the ideal option always. Applying to dozens of jobs when looking to change roles is not a new concept. However, the term captures the frustration of young adults in a post-pandemic, climate-challenged world.

We used to call this, “applying for new jobs”.

— Andrea Kuszewski 🧠 (@AndreaKuszewski) January 14, 2023

For a generation that feeds on instant gratification, a career expert in a Stylist UK report, warns against mass applying to jobs without proper reflection and weighing the pros and cons. Higher pay does not always guarantee a happier work environment or mental satisfaction. The expert also suggested to focus on rage-searching for jobs instead of applying, as a job-change should never be a hasty decision based on an impulse.

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India’s inflation will fall to 5% in 2023, 4% in 2024: IMF



Inflation in India is expected to come down from 6.8 percent in the current fiscal year ending March 31 to 5 percent the next fiscal, and then drop further to 4 percent in 2024, the International Monetary Fund (IMF) said on Tuesday.

“Inflation in India as in other countries is expected to come down from 6.8 percent in 2022 to 5 percent in 2023 and then 4 percent coming towards the target in 2024,” Daniel Leigh, Division Chief, Research Department of the IMF told reporters here.

Also Read | ‘Turning point’: IMF raises 2023 world growth forecast to 2.9%, 1st in a year

“That partly reflects the central bank’s actions,” he added,

According to the World Economic Outlook update released by the IMF on Tuesday, about 84 percent of countries are expected to have lower headline (consumer price index) inflation in 2023 than in 2022.

Global inflation is set to fall from 8.8 percent in 2022 (annual average) to 6.6 percent in 2023 and 4.3 percent in 2024 — above pre-pandemic (2017–19) levels of about 3.5 percent, it said.

Also Read | UK economy to fare worse than any other country in developed world in 2023: IMF

The projected disinflation partly reflects declining international fuel and non-fuel commodity prices due to weaker global demand. It also reflects the cooling effects of monetary policy tightening on underlying (core) inflation, which globally is expected to decline from 6.9 percent in the fourth quarter of 2022 (year over year) to 4.5 percent by the fourth quarter of 2023, the IMF said.

“Still, disinflation will take time: by 2024, projected annual average headline and core inflation will, respectively, still be above pre-pandemic levels in 82 percent and 86 percent of economies,” it said.

In advanced economies, annual average inflation is projected to decline from 7.3 percent in 2022 to 4.6 percent in 2023 and 2.6 percent in 2024 — above target in several cases. In emerging markets and developing economies, projected annual inflation declines from 9.9 percent in 2022 to 8.1 percent in 2023 and 5.5 percent in 2024, above the 4.9 percent pre-pandemic (2017–19) average, the IMF said.

In low-income developing countries, inflation is projected to moderate from 14.2 percent in 2022 to 8.6 percent in 2024 — still high, but close to the pre-pandemic average, it further said.

In a blog post, Pierre-Olivier Gourinchas, Chief Economist and Director, Research Department of the IMF, wrote that global inflation is expected to decline this year but even by 2024, projected average annual headline and core inflation will still be above pre-pandemic levels in more than 80 percent of countries.

“The inflation news is encouraging, but the battle is far from won. Monetary policy has started to bite, with a slowdown in new home construction in many countries. Yet, inflation-adjusted interest rates remain low or even negative in the euro area and other economies, and there is significant uncertainty about both the speed and effectiveness of monetary tightening in many countries,” Gourinchas said.

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At 6.1%, India to be fastest-growing economy, projects IMF; China at 5.2%



The International Monetary Fund (IMF) on Tuesday released its latest projections on world economic growth and predicted a dip in the Indian economy from 6.8 per cent in 2022 to 6.1 per cent in 2023. But India is expected to grow at 6.8 per cent again in the financial year 2024.

The global economy is estimated to take a plunge to 2.9 per cent in the next fiscal year, slowing down from 3.4 per cent in the current fiscal year until March. It predicted a rise of 3.1 per cent in FY 2024.

India remains the fastest-growing economy in the world with the current estimates surpassing growth in emerging and developing Asia as well as projections on China’s economy. Growth in China is predicted to increase to 5.2 per cent in 2023, amid the loosening of Covid-19 restrictions and then dip to 4.5 per cent in 2024.

China and India together account for nearly half of the global growth in 2023. The outlook in emerging and developing Asia is positive with a rise to 5.3 per cent from 4.3 per cent.

A marginal rise in growth has been projected for emerging market and developing economies from 3.9 per cent in 2022 to 4 per cent in 2023, while advanced economies are expected to slump with a decline from 2.7 per cent to 1.2 per cent and 1.4 per cent this year and next. Growth in the US will decelerate to 1.4 per cent in the next fiscal year amid increasing interest rates. Euro area is projected to nosedive from 3.5 per cent in the current FY to 0.7 per cent in 2023, amid war in Ukraine, energy crises and a tightening monetary policy.

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‘Turning point’: IMF raises 2023 world growth forecast to 2.9%, 1st in a year



AFP | | Posted by Ritu Maria Johny

Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China’s lifting of zero-Covid restrictions provides another boost.

The International Monetary Fund expects the world economy to expand 2.9 percent this year, slowing from 2022 to a rate that remains weak by historical standards, said its latest World Economic Outlook update.

“The year ahead will still be challenging… but it could well represent a turning point with growth bottoming out and inflation declining,” IMF chief economist Pierre-Olivier Gourinchas told reporters.

While China’s easing of coronavirus restrictions paves the way for a faster-than-expected recovery, the rise in central bank rates to fight inflation and Russia’s war in Ukraine continue to weigh on economic activity, the Washington-based crisis lender said in its report.

But “adverse risks have moderated” since October’s forecast, the IMF added.

The fund now sees Germany and Italy avoiding recessions, as European growth proved “more resilient than expected” despite war in Ukraine.

But it warned that slower growth this year is driven by advanced economies.

US growth is seen falling to 1.4 percent in 2023 and euro area growth is to slump to 0.7 percent, while the United Kingdom economy contracts.

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