IS THE JOBS ‘CRI­SIS’ OVER?

India Today - - UPFRONT -

A key crit­i­cism of the Naren­dra Modi gov­ern­ment is that it failed to pro­vide enough jobs for In­dia’s bur­geon­ing ranks of job-seek­ers, turn­ing what was long touted as a ‘de­mo­graphic div­i­dend’ into a po­ten­tial tin­der­box of anger and re­sent­ment. But last week, the Em­ployee Prov­i­dent Fund Or­gan­i­sa­tion (EPFO) re­leased data for the first time that showed mil­lions of jobs were cre­ated in the six months up to Fe­bru­ary this year, giv­ing bal­last to the gov­ern­ment’s claim that jobs data so far did not re­flect facts on the ground. In the mean­time, new Tripura CM Bi­plab Deb has re­port­edly an­noyed Modi by sug­gest­ing ed­u­cated young peo­ple in his state would be bet­ter off set­ting up paan shops and milk­ing cows than look­ing to the gov­ern­ment for jobs.

3.1 MIL­LION

The six-month to­tal up to Fe­bru­ary 2018, for em­ploy­ees added to the state-run EPFO; 472,052 were added in Fe­bru­ary, down from 604,557 in Jan­uary

6.2%

In­dia’s un­em­ploy­ment rate in March 2018, ac­cord­ing to the Cen­tre for Mon­i­tor­ing In­dian Econ­omy (CMIE), up from 3.4% in July 2017; pro­jected to reach 6.8% in April

406 MIL­LION

Jobs in In­dia dur­ing FY2017-18, says CMIE; down 700,000 jobs from the pre­vi­ous year

1.85 MIL­LION

Em­ploy­ees added in the 18- to 25-year-old cat­e­gory over 6 months, says EPFO data, a proxy for new jobs, sug­gest­ing about 4 mil­lion pay­roll jobs added in a year

8.1 MIL­LION 23.7 MIL­LION

Ap­pli­cants for 89,409 jobs (or about 265 per post) ad­ver­tised by In­dian Rail­ways last month, sug­gest­ing the de­sire for for­mal em­ploy­ment

91%

Of em­ploy­ment is gen­er­ated by the poorly paid in­for­mal sec­tor

Jobs have to be cre­ated in In­dia per year, said the World Bank in a re­cent re­port, for the 1.3 mil­lion be­ing added to the work­ing age pop­u­la­tion ev­ery month

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