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LATEST NEWS UPDATES | Jobs revival

Jobs revival

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published Published on Sep 12, 2022   modified Modified on Sep 15, 2022

-The Hindu Business Line 

The latest PLFS report shows that urban India has recouped jobs lost during Covid, but there are some structural shifts

As Covid wanes, India’s high-frequency indicators suggest that economic activity is normalising quickly, with high-contact services such as trade, hospitality and travel being the latest to revive. NSO’s latest Periodic Labour Force Survey (PLFS) for the April-June quarter of 2022 shows that the growth revival is reflecting in urban job creation. The job losses witnessed during peak Covid are now a thing of the past with key metrics such as the all-India unemployment rate, Worker Population Ratio (WPR) and Labour Force Participation Rate (LFPR) back to pre-Covid levels. About 43.7 per cent of India’s population aged 15-plus was in the workforce just before Covid hit, in January-March 2020. The lockdown levelled this to 36.4 per cent, but the ratio bounced back to 43.9 per cent by April-June 2022. The unemployment rate, which had spiked from 9.1 per cent before the pandemic to 20.8 per cent during the lockdown, fell back to 7.6 per cent in April-June 2022, suggesting that the economy has recouped urban jobs lost during Covid and then, some more.

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The Hindu Business Line, 12 September, 2022, https://www.thehindubusinessline.com/opinion/editorial/the-latest-plfs-report-shows-that-urban-india-has-recouped-jobs-lost-during-covid-but-there-are-some-structural-shifts/article65883490.ece


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