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Disturbing employment trends in India

Saturday - October 6, 2018 9:47 am , Category : OPINION & INTERVIEW

WTN- A recent study conducted by the Azim Premji University’s Centre for Sustainable Employment has brought forth some startling and disturbing facts regarding employment trends in the country. 

The study says that unemployment in India has reached the highest point in the last 20 years, with employment growth rate stagnating at less than one per cent. The study also clarifies that GDP has nothing to do with employment rate, which means, a higher GDP doesn’t necessarily mean higher employment. 

To support its claim, the study says, in the 1970s and 80s, when GDP was a mere 3-4 per cent, employment rate was growing at a respectable 2 per cent per annum. In contrast, in the 90s and 2000s, as the GDP rose to 6-7 per cent, employment started plummeting, ending in less than 1 per cent. This shows that celebrating GDP figures is just a partial indicator of the health of the nation. 

Employment is a major indice of the economic well being of the people and if there is more joblessness, there has to be multiple problems snowballing into a crisis before long. Unemployment leads to unrest, hooliganism and a reduced spending power of the people, that will lead to demand slump and hence a depressed market scenario. 

Other than unemployment, another sorry figure that has come out is the paltry wages most people in the service sector get. Against the 7th Pay Commission recommendation of minimum Rs 18,000 per month salary, at least 82 per cent males and 92 per cent female workers are getting Rs 10,000 or lesser wage per month. This is leading to an increasing gap between the haves and have-nots, creating a social rift between the rich and the poor, which is detrimental to the country’s future. 

As long as the imbalance is promoted and sustained, inclusive development model will remain a far cry. A large section of the populace will remain marginalised and deprived of the benefits of development. There is urgent need for the government to locate avenues to create more jobs with greater innovation and investments in technology, science and infrastructure. Falling investments and closing of big firms operating out of India like Nokia, Chevrolet and the like, and the insignificant presence of Indian brands in the leading global pecking order have dented the employment prospects further. 

Even if a major employment cannot be generated easily, the government must ensure that at least those in employment are paid well and the disparity is minimised. This will lead to better integration of classes and better spending power and living standard of a large section of people. The youth too should be better prepared through hard work and sincere study to acquire more skills and be employable.  

Unemployment is a problem in the country not just because of lack of opportunities but also because of lack of employability in a large section of the youth. Our education system has much to do with that and the government must bring about education reforms to set the basics right before launching bigger programmes.


-Window To News
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