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LATEST NEWS UPDATES | Job Losses Soar as Modi Govt Continues to Grope in the Dark -Subodh Varma

Job Losses Soar as Modi Govt Continues to Grope in the Dark -Subodh Varma

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published Published on May 10, 2020   modified Modified on May 11, 2020

-Newsclick.in

In April alone, over 12 crore jobs were estimated to have been lost, and unemployment is at over 27% in the beginning of May.

After the loss of nearly 80 lakh jobs in March, most of them in the last week after the countrywide lockdown was suddenly announced by Prime Minister Narendra Modi on March 24, latest data collected by CMIE or Centre for Monitoring Indian Economy through their periodic sample survey, shows a staggering loss of 12.12 crore jobs in the full month of April. That’s almost 30% of the average number of employed persons in the preceding financial year.

These figures, though estimates, indicate that there is unprecedented economic distress in the country, mostly being shouldered by common people. While much hue and cry has been raised by powerful industrial lobbies to demand stimulus and assistance packages for the revival of industrial activity, the plight of working people, left without earnings for over a month, has been largely ignored, both by the Modi government and the mainstream media.

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Newsclick.in, 10 May, 2020, https://www.newsclick.in/Job-Loss-Continues-During-Lockdown-While-Govt-Does-Nothing?fbclid=IwAR3d5xVzAFHIuwCaoBe-BrwQHiJmo3iH13RnBS6SAgUKFAMctK0PgIKhIiQ


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