The trauma of distress migration of 2020, low wages, lack of social security and support systems in urban areas have combined to reduce the return of migrant workers to urban centres.
Manufacturing accounted for the highest share in employment among major formal sectors, followed by education, IT/BPOs, health, trade, and transport.
The estimated GDP growth of 7.5% for FY23 is likely to create 6 million jobs, which is grossly insufficient, claims CMIE.
Over the past three years, agriculture has added 11 million jobs while the rest of the economy lost 15 million.
While job crisis tightens its grip, state governments are seeking an easy escape by passing the burden to private sector, although not entirely without valid reasons.
The increased capital expenditure by government, ECLGS and production-linked incentive scheme in the Budget are meant to create jobs, says FM Sitharaman.
Numbers paint a grim picture of employment composition in India, where the salaried jobs have been disproportionately hit during the pandemic.
The falling labour participation rate and rising unemployment — partly due to Covid-19 lockdowns — pose concerns for the government.
Haryana, Rajasthan and Jharkhand had the highest unemployment rates in December 2021, while Karnataka, Gujarat, Odisha and Chhattisgarh had the lowest.
The salaried class saw a loss of 9.5 million jobs, while another 1 million jobs were lost among entrepreneurs.
