Bihar Elections: PM Modi, Congress leader Rahul Gandhi address rallies
Finance Ministry releases Rs. 6,000 crore to states as GST revenue
Govt imposes stock limit to check rise in onion prices
India gets Chairmanship of Governing Body of ILO after 35 years
US approves sale of weapons systems worth around 1.8 billion dollar to Taiwan
FreeCurrencyRates.com

इंडियन आवाज़     25 Oct 2020 04:33:03      انڈین آواز

50 lakh people lost jobs after demonetisation in India: Study

Young urban people are being hit hardest, a Bengaluru-based private university said in a report

 

WEB DESK / NEW DELHI

At least 5 million (50 lakh) people lost opportunities to work across the country, while the overall unemployment rate doubled between 2011 and 2018 to 6%, says a ‘State of Working India’ (SWI) report published by Centre for Sustainable Employment (CSE) of Azim Premji University (APU).

Researchers from the university used unit-level data from the Consumer Pyramids Survey of the Centre for Monitoring the Indian Economy (CMIE), which covers around 5.22 lakh individuals quarterly, to get an outline of unemployment and what could be done to address it.

 

“In addition to rising open unemployment among the higher educated, the less educated (and likely informal) workers have also seen job losses and reduced work opportunities since 2016,” said Amit Basole, an economist and lead author of the report

The rural Workforce Participation Rate (that is, the percentage of people working against the population within the working age) among men dipped from close to 72% in Jan-April 201 (a few months before demonetisation) to slightly above 68% by Dec.2018. The corresponding figure for urban men reduced from 68% to nearly 65% in this time.“The numbers seem to suggest we are in a perfect storm-like situation.

On the supply side, there is rising aspirations, youth bulge, higher levels of general educational degrees. On the demand side, there has been a collapse of public sector employment, the weak link between growth in private industry and employment, and factors such as demonetisation and GST,” Amit Basole, lead author of the report, said at its release. “It seems like employment opportunities have been hit by demonetisation and has not recovered after that,” he observed.

The report shows that the worst-hit in terms of lost employment opportunities were those in rural areas with pre-university or graduate certification and those between the ages of 20 and 24 years.SWI relied primarily on the date from CMIE rather than Centre’s Periodic Labour Force Survey (PLFS), whose last report was in 2011-12. While a report on 2017-18 had been prepared, it ran into controversy as the Centre refused to release it. Leaked versions of the report pointed to soaring unemployment rates — reportedly highest in 45 years.

PC Mohanan, who resigned from National Statistical Commission in protest against Centre’s decision not to release the report, said there was much insight in 2017-18 report, which had been carefully drafted totally with previous 5-yearly PLFS reports.

Leave a Reply

Your email address will not be published. Required fields are marked *

SPORTS

SAI approves coaching camp for Table Tennis; TTFI to conduct camp in Sonepat

AMN The Sports Authority of India has approved the national coaching camp for Table Tennis. The camp will c ...

IPL: Kolkata Knight Riders beat Delhi capitals by 59 runs

AMN In IPL Cricket, Kolkata Knight Riders beat Delhi Capitals at Abu Dhabi. Spinner Varun Chakravarthy pick ...

خبرنامہ

حکومت نے پیاز کی قیمتوں میں اضافے کو روکنے کیلئے ذخیرے کی حد مقرر کی

حکومت نے آج کہا کہ اس نے ملک میں پیاز کی قیمتوں میں اعتدال پید ...

دنيا بھر ميں کورونا وائرس کا مسلسل پھيلاؤ

WEB DESKدنيا بھر ميں کورونا وائرس کے متاثرين کی تعداد 41.38 ملين ہو ...

برطانيہ اور جاپان کے درميان آزاد تجارت کا معاہدہ

WEB DESK برطانيہ اور جاپان نے آزاد تجارت کے معاہدے پر دستخط کر ...

TECH AWAAZ

Covid 19 induces scientists to work for Fastest Innovations for Survival

From Touchless Soap & Water Dispenser, Mechanical Ventilator to Pioneering E-classroom Software or Low-cos ...

Digital tech companies have responsibility to abide by govt rules: India

WEB DESK India has said it remains open and continues to welcome FDI in the country including in the area o ...

MARQUEE

Chaitanya Venkateswaran becomes British High Commissioner for a day

WEB DESK On the International Day for Girls today, an 18-year-old woman from NEW DELHI became the British ...

Andaman and Nicobar: Various tourism activities restart

AMN Various tourism activities will restart today after a gap of six months in Andaman and Nicobar Islands. ...

MEDIA

I&B Ministry asks TV channels not to malign or slander individuals, groups

The police named Republic TV, Fakt Marathi and Box Cinema in the matter. Police Commissioner Param Bir Singh h ...

TRP SCAM:’People are Paid to watch Republic TV’, 3 Channels in Dock, says Mumbai Police

Republic TV Among 3 Channels Being Probed For TRP Manipulation WEB DESK / AGENCIES Mumbai Police ...

@Powered By: Logicsart

Do NOT follow this link or you will be banned from the site!