Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Economy growing at 7%, jobs at 1% -Subodh Varma

Economy growing at 7%, jobs at 1% -Subodh Varma

Share this article Share this article
published Published on May 19, 2017   modified Modified on May 19, 2017
-The Times of India

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.

Please click here to read more.

The Times of India, 19 May, 2017, http://timesofindia.indiatimes.com/india/economy-growing-at-7-jobs-at-1/articleshow/58742227.cms


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close