echo ''; Clamorworld » In everyday life every one of us comes across various experiences, incidents which we either don’t share with anyone or share with family members and friends. Print media, electronic media and various medium shows the news, but its ends up showing one sided of the story. We never come to know the other side of story. With so much happening every day, every second across our neighborhood, society, and world it’s difficult for the news media to cover all the news. Many times we have felt wish we could share our voice, opinion, thoughts with the world. Many a times we have felt the frustration, anger and helplessness for not being able to do anything about an incident. Have you ever felt, for a good cause, you need support, but don’t know how to garner the support and attention. So, now you have an option “www.Clamorworld.com“. This is a platform to share everything you want to. A website 100% runs by the people for the people. The world is waiting to listen to your voice, the voice which has kept you suppressed so far. If you do not want to share the incident, event personally, please send it to us at contact@clamorworld.com, and we will share it on your behalf and assure to keep your name confidential. Let’s make this world a peaceful and a happy place to live. » India’s Economy Grew At 7% Last Year, But Jobs Increased By Just 1%

India’s Economy Grew At 7% Last Year, But Jobs Increased By Just 1%

 

While the economy is growing at just over 7% per year, jobs increased by just 1.1% last year, according to a recently-released report covering eight key sectors of the non-farm economy. An earlier report had pegged joblessness at a fiveyear high of 5% in 2015, and under-employment at a staggering 35% of the over-15 years labour force.”

Seen in this context, the government is facing a growing employment crisis which its various initiatives are unable to address.

Both reports are based on large surveys carried out by the Labour Bureau. Job growth is tracked by a revamped quarterly survey of over 10,000 units while unemployment is recorded in an annual survey of 7.8 lakh people.

The new quarterly survey started in April 2016 and replaced an earlier one which covered certain export-oriented sectors. Providing decent jobs was one of the most popular promises which swept the Modi-led BJP to office in 2014 and helped it win several state elections.

Most recently, Yogi Adityanath too had promised to address the jobs situation in UP after being anointed the chief minister following BJP’s dramatic victory in the state assembly elections. UP itself has an estimated 1 crore unemployed, according to the report.

Recent reports of several IT and BPO majors shedding jobs have added to the worries of people, especially urban middle-class families which had been riding the IT boom. Global slowdown in IT services and components and new visa restrictions are thought to be behind this.

Several other indicators explain this painful situation. Gross credit given to industry has grown by just 6.7% in the past three years, the index of industrial production has inched up by just 6% and growth in gross fixed capital formation slipped to an alarmingly low 0.6% in January this year compared to 6.1% last year. A total of 2.3 lakh jobs were added to the eight sectors covered in the quarterly survey including manufacturing, construction, trade, transport, accommodation and restaurants, IT/BPO, education and health.

Nearly half of the new jobs added were in education and health. Both these sectors are known for low paying jobs. Construction and the hospitality/food sectors showed loss of jobs, the most serious ones, amounting to a dip of nearly 7%, is in construction.

One usually neglected aspect of India’s unemployment crisis is of under-employment or concealed unemployment. This is of two types —not finding work for full year and work at very low wages. The Labour Bureau’s 2016 report on unemployment paints a dire picture of both fronts.

Only 61% of people in the workforce were found to have year-round jobs with 34% working only 6-11 months even though they were willing to work for 12 months. The report also revealed that 68% households were earning only Rs 10,000 per month or less. In all, nearly 16 crore people in the workforce were under-employed in this manner.

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