Do you want a job that does not pay you at all? The answer will be surely 'no' for most of us. And yet, in our previous analysis, it was found that the proportion of 'helpers in household enterprises' among the total number of workers grew over various rounds of annual PLFS (Periodic Labour Force Survey), from 13.3 percent to 15.9 percent between PLFS 2018-19 and PLFS 2019-20, and then...
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Rationale behind raising interest rates -Sashwath Swaminathan nd Anand Srinivasan
-The Hindu A critical facet of the consequences of an interest rate increase is the correction of asset prices. Interest rates act as gravity to stock market prices The Federal Reserve and other central banks around the world have raised interest rates to curb inflation. The rationale behind raising interest rates is that the cost of borrowing rises whenever they are raised, and the incentive to save and invest rather than consume...
More »Expand MGNREGS to 150 days: House panel -Saubhadra Chatterji
-Hindustan Times The House panel also made a “strong appeal” to authorities to change the index that decides wage revision for better wages under the programme. New Delhi: A Parliamentary panel has recommended extension of work allocation under Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), India’s flagship job scheme, to 150 days per year, according to a committee report. The MGNREGS currently guarantees 100 days of wage employment to each person in...
More »Global recession increasingly likely as cost of living soars: WEF survey
-PTI/ The Hindu Business Line The survey showed that food security could be at risk over the next three years A global recession is becoming increasingly likely due to stubbornly high inflation and real wages continuing to fall, the World Economic Forum said on Wednesday, citing a survey of chief economists from across the world. According to the WEF Chief Economists Outlook report, real wages are expected to continue falling across the world...
More »Quality of work matters, and not just job creation
Contrary to the rising economic distress on the ground since the last few years, the official press release related to the fourth Annual Report on the Periodic Labour Force Survey (PLFS) at first glance seems to give a rosy picture about the employment situation in India. Defined as the percentage of persons unemployed among the persons in the labour force, the unemployment rate in usual status (principal activity status + subsidiary economic activity status)...
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