Economic Growth Spurs Shift from Casual to Formal Employment

Minister of Labour and Employment Mansukh Mandaviya reports a significant shift of casual workers toward formal employment as India's economy grows. He highlights improving job opportunities, increased self-employment, and rising wages, all contributing to a lower unemployment rate and a healthier job market.

In a notable economic development, India's Minister of Labour and Employment, Mansukh Mandaviya, announced on Monday a significant trend of casual workers transitioning to formal employment. He emphasized that with the economy's expansion, job opportunities are on the rise, leading to a decrease in unemployment figures.

During the Question Hour, Mandaviya stated, "Day by day, employment is increasing in the country, and unemployment is getting reduced. When any economy grows, employment is generated." His remarks underscore the critical role of manufacturing in meeting the economic demands.

Further, Mandaviya highlighted that self-employment has surged from 52 percent in 2017-18 to 58 percent, and the average income of casual workers has increased from Rs 255 in FY18 to Rs 418. Regular salaried positions are becoming more prevalent as casual labour decreases, marking a positive shift in India's employment landscape.

(With inputs from agencies.)