The first-ever annual employment survey by the Labour Bureau under the Union Ministry of Labour points to a “jobless economic growth” last fiscal year. During the bureau’s survey period 2009-10 — also the year in which India’s gross domestic product grew by 7.4 per cent — unemployment was 9.4 per cent. The National Sample Survey Organisation, using its Consumer Expenditure Survey for 2007-08, had painted a rosy unemployment figure of 2.8...
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Jobless rate in India pegged at 9.4%
The unemployment rate in the labour force was estimated to be 9.4 per cent during the 2009-10 financial year, a government survey has said. The Indian jobless rate was till now arrived at strictly by guesswork. According to the first national level household survey conducted by the Labour Bureau, out of 1,000 employed persons, 455 were employed in agriculture, forestry and fisheries group during this period. The survey was conducted with a view...
More »Microfinance: What's wrong with it by M Rajshekhar
The poster boy of microfinance is now seeking some anonymity. In Andhra Pradesh, the epicentre of the worst crisis faced by microfinance in India, SKS Microfinance is playing down its identity and going into preservation mode. At its modest office in a residential colony in Warangal district, India’s largest microfinance company has taken down its board. At its head office in upmarket Begumpet in Hyderabad, it hung a cloth mesh...
More »‘9.4% unemployed, agriculture accounts for less than half of all jobs’ by Amitav Ranjan
A first-ever survey by the Labour Bureau under the Union Ministry of Labour has shown that chronic unemployment — being jobless for more than six months — in India for 2009-10 stands at 9.4 per cent of the population, more than thrice the 2.8 per cent estimated by the National Sample Survey Organisation (NSSO). The survey was conducted in 300 districts among the 28 states and union territories with working class...
More »'Nearly 10%' of Indians are without jobs
Nearly 10% of Indians are without jobs, a new study of the country's labour force has found. The study by the federal labour ministry was conducted in some 46,000 households in 28 states all over the country. It also found that over 85% of Indians had no access to social security. Various surveys have pegged India's unemployment rate between 2.8 to more than 10%. Analysts say the actual figure is much higher. They say...
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