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Employment Situtation in India

30-Oct-2024 by Charan Singh

EGROW Foundation has organized 3 webinars on an important contemporary topic on employment. The speakers and key highlights of webinars are as follows:-

Speakers

  1. Santosh Mehrotra
    Visiting Professor, Centre for Development Studies, University of Bath, UK
    Former Professor, Jawaharlal Nehru University

  2. Kingshuk Sarkar
    Associate Professor, General Management and Public Policy Area, Goa Institute of Management

  3. Surjit Bhalla
    Former Former Executive Director, IMF
    Former Member, Economic Advisory Council to the Prime Minister

  4. Bishwanath Goldar
    Non-Resident Senior Fellow, Insititue of Economic Growth

  5. Mahesh Vyas
    Manging Director and Chief Executive, Centre for Monitoring Indian Economy

1. Employment in India – Facts and Figures

Key Highlights

  • Requirement of 7 mn jobs annually
  • Unemployment situation is grim: driven by shocks, lockdown, weak global situation
  • Situation of youth [high suicides], females worrisome
  • Non-farm jobs growing slower, unorganised sector barely recovers

Read Santosh Mehrotra's Presentation
Read Kingshuk Sarkar's Presentation

2. Female labor force participation

Key Highlights

  • Fertility Change baking working age population
  • Youth unemployment rate is higher than 10%. Graduate unemployment not unique to India
  • Female labor force participation is good & is dependent on education, social norms incl religion

3. Employment in India

Key Highlights

  • Labor participation rate still lower than 2019
  • Unemployment rate elevated at 8 percent
  • Female employment rising rapidly
  • Salaried employment & entrepreneurship rising but of poor quality
  • Mudra loans helped create entrepreneurs

Read Mahesh Vyas's Presentation

Conclusion

My take is as follows:

  1. The employment situtation is complex issue
  2. Some stress on unemployment is noted in India
  3. Only way to meet heavy employment is MSME