India losing jobs at a worrisome rate; report

A report by PRAHAR, a Delhi based civil society group has come with a report which present a dystopian future for the country. According to the data released in a report, India’s unemployment rate has gone significantly higher while its employment rate gone down with an equally or an even higher rate.

Unemployment in India

According to the data released by Labour Bureau in early 2016, India created only 1.35 lakh jobs in 2015 which is significantly lower than the 4.19 lakh in 2013 and drastically lower when compared to 2011, when 9 lakh jobs were created.

The data by Labour Bureau were released in a report by the civil society group. According to the report, as many as 550 jobs have disappeared every day in last four years from 2011 to 2015, the unemployment rate would spike with up to 7 million by 2050.

According to these claims, it would be farmers, petty retail vendors, contract labourers and construction workers or to use it in Karl Marx’s term, ‘the petty bourgeois’ are the most vulnerable sections facing never before livelihood threats in India today.

Clearly, it would be this vulnerable group which would be most hardly hit due to such recession. According to a statement from the report, “A deeper analysis of the date reveals a rather scary picture. Instead of growing, lively hoods are being lost in India on a daily basis. As many as 550 jobs are lost in India every day (in last four years as per Labour Bureau data) which means that by 2050, jobs in India would have got reduced by 7 million, while population would have grown by 600.”

The sheer number is staggering and so could be best understood when compared to the jobs lost by the United States of America during the recent recession of 2008 when it suffered up to 8.8 million job losses.

The reason according to the report is, “.. sectors which are the largest contributor of jobs are worst-affected. Agriculture contributes to 50 per cent of employment in India followed by SME sector which employs 40 percent of the workforce of the country.”

The organized sector contributes to even less than 1 percentage of the employed in India. This is evident from the fact that there are 30 million jobs in the organized sector compared to a humongous 440 million in the unorganized.

The report suggested measures such as protecting this vulnerable section which contributes up to 99 per cent of current livelihoods in the country.

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