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India created over 1,100 jobs a day in ’16-17

PUBLISH DATE 31st December 2017

India’s organised sector created a little over 1,100 jobs a day in 2016-17 which totalled up to 4.16 lakh new jobs for the entire year. The rate of job creation was 2% higher than 2015-16. Last quarter of 2016-17, the hardest hit by the demonatisation, saw much higher job creation than the previous three quarters of the year, claims the quarterly report on employment scenario, released by the labour ministry on Friday. Nearly 45% of the total jobs created during the year were generated between January and March 2017.

Overall, the spell of low growth that casts a shadow on India’s economic performance, especially since the 1990s, continues. India has been adding about 8 lakh workers to its labour force every year, implying that organised sector absorbed only about 50% of new workers who seek employment. However, the survey doesn’t reflect the overall employment situation in the country. It covers only the organised sector (establishments employing 10 or more persons) identified by Sixth Economic Census (2013-14). The census counted 58.5 million establishments of which only 1.4% came under organised sector.

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Over 1,100 jobs a day in 2016-17

Nearly half—47.4%--of the 4.16 lakh jobs created in 2016-17 were generated by the manufacturing sector. Education and health that accounted for 32% of the new jobs. An analysis of sector-wise change in employment shows that job market in health sector saw the largest expansion where 5.5% more people were employed on April 2017 as compared to April 2016. Health was followed by trade, transport and IT/BPO--each growing by over 3%. Together, these four sectors account for 21.3% of total employed people on April 2017. Construction and accommodation & restaurant industry saw a 6.3% and 0.5% decline in employment.

One encouraging finding of the survey was 87% of new job creation by employers. Self-employment constituted only 12.7% of the over four lakh jobs added in the financial year. peculiarity of India’s job market is the presence of large underemployment which disguises unemployment. Without a regular job and any unemployment benefit a large part of Indians classified as self-employed actually barely make a living. It is in this context that new job creation under by employers, rather than through self-employment, is a positive trend.

A gender-wise analysis shows 60.8% of new jobs were taken by men while women got 39.2% of the new employment.

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