Left Menu
Development News Edition

Five million lost jobs in India between 2016 and 2018 - report

Reuters | Updated: 17-04-2019 18:09 IST | Created: 17-04-2019 18:09 IST
Five million lost jobs in India between 2016 and 2018 - report
At least five million Indians lost their jobs between 2016 and 2018, and young urban men are being hit hardest, a Bengaluru-based private university said in a report on Tuesday.

The report by the Azim Premji University comes as Indians are voting in a staggered general election, which is due to end on May 19, with Prime Minister Narendra Modi's government keen to defend its economic record, including on jobs. "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 report did not say how many jobs were created during the period. Modi's abrupt withdrawal of high value currency notes from circulation in November 2016, with the aim of curbing tax evasion and promoting digital transactions, disrupted small businesses and sparked layoffs.

The introduction of a national sales tax the following year compounded difficulties for some businesses. The unemployed were mostly higher educated and young people, in the 20-24 age range, according to the study titled "State of Working India 2019".

"Among urban men, for example, this age group accounts for 13.5 percent of the working age population but 60 percent of the unemployed," it said. Modi has faced criticism for not doing enough to create jobs for millions of unemployed young people despite official annual economic growth of about 7 percent for the past five years.

An official survey that the government withheld showed unemployment rose to its highest level in at least 45 years in 2017/18, the Business Standard newspaper reported in February. The unemployment rate rose to 7.2 percent in February 2019, its highest since September 2016, and up from 5.9 percent in February 2018, according to data compiled by the private research house, Centre for Monitoring Indian Economy (CMIE).

The report suggested the next government should consider an urban employment guarantee scheme to create jobs, build infrastructure and provide services. India has a rural jobs guarantee programme, launched in 2006, which offers work to about 70 million rural people at the minimum wage for 100 days a year.

"India is at a crucial juncture in its economic development where timely public investment and public policy can reap huge rewards," Basole said. (Reporting by Manoj Kumar Editing by Martin Howell)



New farm bills in India: Focusing on farms or farmers?

... ...

Kenya’s COVID-19 response: Chaos amid lack of information

Confusing numbers and scanty information on how effective curfews and lockdowns have been in breaking transmission have amplified coordination and planning challenges in Kenyas response to COVID-19. Without accurate data, it is impossible t...

Farkhad Akhmedov: Calculating the price of impunity from the law

In insistences such as the battle over the Luna, Akhmedov has resorted to extreme legal machinations to subvert the High Courts decision and keep his assets from being seized. ...

Guinea’s elections hearken back to the autocracy and violence of its past

... ...


Latest News

Lebanon security chief returns to Beirut after positive COVID-19 test in U.S.

Top Lebanese security official Major-General Abbas Ibrahim returned to Beirut from the United States on Friday where he had tested positive for COVID-19, local media reported. Ibrahims positive test result, announced on Monday, had delayed ...

Biocon Q2 net profit down 23 pc at Rs 195 cr

Biotechnology major Biocon on Friday reported a 23.01 per cent fall in its consolidated net profit to Rs 195.4 crore for the second quarter ended September 30, mainly on account of higher expenses. It had posted a net profit of Rs 253.8 cro...

Australian police not investigating Vatican money transfer

Australian state police said Friday theyre not investigating the transfer of money from the Vatican to Australia, throwing doubt on Italian media speculation that it might be linked to the overturned convictions of Cardinal George Pell for ...

NDA govt under Nitish Kumar in Bihar is necessary to strengthen resolve of 'aatmanirbhar Bharat': Modi at Bihar rally.

NDA govt under Nitish Kumar in Bihar is necessary to strengthen resolve of aatmanirbhar Bharat Modi at Bihar rally....

Give Feedback