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LATEST NEWS UPDATES | 50 Lakh People Have Lost Their Jobs Since the Demonetisation Exercise, Says Report -Deepa Balakrishnan

50 Lakh People Have Lost Their Jobs Since the Demonetisation Exercise, Says Report -Deepa Balakrishnan

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published Published on Apr 17, 2019   modified Modified on Apr 17, 2019
-News18.com

The report states that women are much worse affected than men because they have higher unemployment rates as well as lower labour force participation rates.

Bengaluru:
India’s unemployment reached its highest at 6 per cent in 2018, double of what it was in the decade between 2000 and 2010. According to a report by Azim Premji University's Centre for Sustainable Employment, 50 lakh people lost their jobs after Narendra Modi’s demonetisation exercise in November 2016.

The report also states that the unemployment rate in the country had been steadily on the rise in the last decade, and hit its worst levels after 2016.

The 'State of Working India 2019' report on employment and labour states that unemployment is highest among the 20-24 years age-group, a great cause for concern as this represents the young workforce. This is true for all segments, urban men and women, rural men and women.

Release of the report, in the middle of the Lok Sabha election, is likely to further give opposition parties ammunition to target the Modi government on job losses during its tenure. Unemployment has regularly topped pre-poll surveys as the issue that concerns voters the most.

"In general, women are much worse affected than men. They have higher unemployment rates as well as lower labour force participation rates," the report states.

While official numbers on unemployment from the Periodic Labour Force Survey of the National Sample Survey Organisation (NSSO) is not available from the Ministry of Statistics, the only other survey available to take stock of employment situation is that of the Centre for Monitoring the Indian Economy (CMIE).

A leaked copy of the NSSO report accessed by the media had shown that unemployment had touched a 45-year-high of 6.1 per cent in 2017-2018.

The University's study draws from this CMIE survey of about 1,60,000 households conducted every four months.

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News18.com, 16 April, 2019, https://www.news18.com/news/india/50-lakh-persons-lost-jobs-since-modi-govt-implemented-demonetisation-says-report-2105271.html?ref=hp_top_pos_2&fbclid=IwAR1ySo0jaxf1kw


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