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LATEST NEWS UPDATES | Tracking employment data in ’22 as jobs return 2 yrs after Covid -Abhishek Jha

Tracking employment data in ’22 as jobs return 2 yrs after Covid -Abhishek Jha

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published Published on Dec 30, 2022   modified Modified on Dec 30, 2022

-Hindustan Times

Since the Covid-19 pandemic started in 2020, economies all around the world have learnt that they must balance lives and livelihood to survive.

Since the Covid-19 pandemic started in 2020, economies all around the world have learnt that they must balance lives and livelihood to survive. In 2022, India got the first part of this act almost right, due to both the natural trajectory of the pandemic and widespread adult vaccination. Not only were infections fewer (95% and 40% of that in 2020 and 2021), they also led to much fewer (officially recorded) deaths (34% and 15% of that in 2020 and 2021). This has also helped recovery in livelihoods. GDP went above pre-pandemic 2019 levels for the January-September interval for the first time this calendar year since 2020. Does this also mean a recovery in jobs? The answer to this question is not as simple as one might expect from the official numbers available for 2022. However, these numbers give an idea about the employment situation.

Unemployment a smaller problem for urban India in 2022 than even in 2019

The complete data on jobs for India – collected in the Periodic Labour Force Survey (PLFS) – is only available only up to June 2021. However, the National Statistical Office (NSO) has published key numbers for urban areas up to the quarter ending September 2022. These show that 2022 was a better year than even 2019 in terms of the urban unemployment rate. Urban employment in the March, June, and September quarter of the 2022 calendar year was the best, second best, and fourth best since the quarter ending June 2018, the earliest period for which these bulletins have data. To be sure, job market comparisons are best made for the same quarter across years, as some jobs, such as those in agriculture, are seasonal. This paints an even better picture. Urban unemployment was the lowest ever in each quarter in 2022. This was not because people stopped looking for jobs. Labour force participation rate (LFPR) – the share of population working or looking for a job – was also consistently higher in 2022 than earlier. LFPR was the second highest for the March quarter this year and the highest in June and September for those quarters.

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Hindustan Times, 30 December, 2022, https://www.hindustantimes.com/india-news/tracking-employment-data-in-22-as-jobs-return-2-yrs-after-covid-struck-101672337418397.html


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