Employment grew by 2 million, or 0.5% in 2017: CMIE report

unemployment in 2017
unemployment in 2017

After the disapponiting data by CSO on the growth of economy, the Centre for Monitoring Indian Economy has revealed another disappointment for the employment sector of the country , in a report published on 9th January it sated that in 2017 employment grew by only 0.5 percent.

Both the reports raises questions over the Government’s claim of a healthy and rapidly growing economy. The CMIE has claimed that employment increased from 405.3 million in 2016 to 407.4 million (preliminary estimates) in 2017.

This implies an increase of 2 million jobs during the year. This is very low compared to the estimated 11.5 million who should have come into the labour force during the year.

Distinguishing between the rural and Urban employment growth in 2017 the report states that in rural areas employment increased by 2 percent whereas the employment in rural areas decreased by 0.3 per cent.
According to the CMIE-BSE surveys, the LPR (Labour Participation Rate) (daily status) fell from 46.6 per cent in 2016 to 43.9 per cent in 2017.

With Inputs From CMIE Report

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