India’s unemployment rate hit 45-year high in 2017/18

Feb 01, 2019, 14:31
India’s unemployment rate hit 45-year high in 2017/18

On the concerns regarding the labour force survey, the Centre said that, "the Periodic Labour Force Survey (PLFS) has been created to yield annual estimates of the labour force on employment and unemployment along with quarterly estimates for the urban areas".

The labour force participation rate - the proportion of the population working or seeking jobs - declined to 36.9 percent in 2017-18 from 39.5 percent in 2011-12, the report said.

Over the last couple of years, India's economy has been growing rapidly by about seven percent annually, but uneven growth has meant that there are not enough new jobs to keep pace. The comparable rate for the United States was 63.1 percent in December.

To a question on why Niti Aayog was holding a press conference on NSSO data, Kumar said Chief Statistician Pravin Srivastava is out of Delhi and could not be present. "We are waiting for six-quarter data in the absence of which we can not do quarter-on-quarter comparison".

Mr Kant said that Niti Aayog's estimate shows that the country is creating 7-7.8 million jobs every year and the nature of jobs is also changing.

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The head of the government-funded National Statistical Commission PC Mohanan said on Wednesday that he and colleague J Meenakshi were unhappy at the non-publication of jobs data that had been due for release in December and alleged interference by other state agencies over backdated GDP data.

NITI Aayog CEO Amitabh Kant said that India's growth rate is 7.2 per cent.

"There's no link between this and the quarterly data", Mohanan told Reuters. But, "Jobs data not final", says The Economic Times.

"Data collection method is different now and we are using a computer-assisted personal interviewee in the new survey".

The NSSO's annual household survey of 2017-18 is the first after the November 2016 demonetisation, when PM Modi declared an overnight ban on high-value notes.

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After the chaotic launch of a national sales tax in July 2017, hundreds of thousands have lost jobs in small businesses. "Had it released the report on time, it (the Centre) would have fared badly on performance... now even its intent will be viewed with serious doubt", it concludes. Adding to his embarrassment, two members of the national statistics commission, created to bring transparency to government economic reports, resigned this week in protest at being sidelined.

Soon after Gandhi's tweet referring to Modi as Fuhrer, the BJP claimed EPFO data showed a "sharp increase" in jobs over the past 15 months and also referred to Gandhi as inheriting "Mussolini's shortsightedness" and having "myopic understanding of issues". "The confusion is being created by those using a job report which has been leaked, and it has not been finalised", he added.

Some sociologists say that there are instances of a correlation between high unemployment and an increase in criminal behaviour.

More than 900 million people will be eligible to cast votes in the world's biggest ever democratic exercise and the pressure to woo them is intense.

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