Unemployment

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CMIE Report on unemployment

CMIE Report on unemployment Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment News: The Centre for Monitoring Indian Economy (CMIE) has released a report on Unemployment in India. Prelims focus: Key findings of the report. Mains focus: Concerns, reasons for rise in unemployment, challenges ahead and steps to be taken to address them. Key findings:

ANOTHER GRIM REMINDER

ANOTHER GRIM REMINDER Context: The economic slowdown of India, whether due to cyclical Downturn or structural factors. Projections: IMF projects India's annual GDP at 6.1 %. World Bank projects India's annual GDP of 6% Moody's rating agency projects it as 5.8% Most of the multilateral Agencies call it a structural failure. Reasons for structural failure : 1.Weak financial sector due to high NPA and high share of NBFCs on banks total credit. NBFCs has borrowed

MGNREGA and annual work limit

MGNREGA and annual work limit Part of: GS-III- Economy (PT-MAINS-PERSONALITY TEST) About MGNREGA The Mahatma Gandhi National Rural Employment Guarantee Act, earlier known as the National Rural Employment Guarantee Act was passed on 7th September 2005 to augment employment generation and social security in India. It covers all districts of India except the ones with 100% urban population. Key objectives: Generation of paid rural employment of not less than 100 days for each work

Differential impact of COVID-19 and the lockdown

Differential impact of COVID-19 and the lockdown COVID-19 has established economic equality: The disease can strike anyone. The resultant lockdowns have led to widespread job losses and economic hardships across a range of income and occupational distribution. The marginalised at risk: Preliminary data and early indirect evidence from several parts of the world indicate that the incidence of the disease is not class-neutral. Poorer and economically vulnerable populations

Analysis of the Unemployment in India and Gig Economy

Analysis of the Unemployment in India and Gig Economy With the Indian economy gradually finding its feet after a historic contraction of negative 23.9% in the April-June quarter, economic commentators have busied themselves with debating the need for fiscal expansion and the viability of a “V-shaped recovery”. These debates, however, have shifted focus away from the employment question, considered resolved after a sharp rally following the collapse in employment numbers in A

Work From Anywhere (WFA)

Work From Anywhere (WFA) Introduction For companies and workers facing woes dealing with United States immigration, Work-from-anywhere can be the only solution. Impacts due to Executive Order limiting entry of migrants For years, high-skilled economic migrants seeking to relocate to the U.S. have faced uncertainty due to lack of clarity and flexibility in the H-1B visa programme. In addition to the negative effects this had on individual migrants and their families, restr

Reservation of Jobs-Rising nativism and sub-regionalism

Reservation of Jobs-Rising nativism and sub-regionalism The present condition of Haryana The Haryana government has recently passed legislation that mandates companies in Haryana to provide jobs (75%) to local Haryanvi first, before hiring people from outside the State. The unemployment rate in Haryana is the highest of all States in India, as per data from the Centre for Monitoring Indian Economy. A whopping 80% of women in Haryana who want to work cannot find a job. More than half

Data on Employment

Data On Employment Employment during COVID-19 According to ILO, of the 535M labour force in 2019, 398 M will have poor-quality jobs. National Rural Employment Guarantee Scheme witnessed 243% rise in person workdays in 2020-21 Shrinking Sectors have been affected the most Construction(-50%), Trade, Hotels(-47%), Manufacturing(-39%)and Mining(-23%). CMIE report: Unemployment rate in Haryana is the highest of all states. 80% of women in Haryana who want to work cannot find job. And &

Rising Unemployment and Need for Domestic Demand

Rising Unemployment and Need for Domestic Demand Unemployment Rising unemployment, including among the salaried class, and shrinking real incomes have led to a lack of demand that bodes ill forthe economy, said Mahesh Vyas, managing director at the Centre for Monitoring Indian Economy (CMIE). Unemployment rose to8% in April, from 6.5% in March, the CMIE said. Labour participation rate Labour participation rate recovered soon after the lockdown was eased last year, but ha

Periodic Labour Force Survey (PLFS) - Unemployment rate for women

Periodic Labour Force Survey (PLFS) The unemployment rate for women Periodic Labour Force Survey (PLFS)- conducted by National Statistical Office (NSO), Ministry of Statistics and Programme Implementation. In 2019-20, Labour Force Participation Rate(LFPR) for the persons aged 15 years and above on usual status (principal status + subsidiary status) basis, LFPR for women has increased from 24.5% in 2018-19 to 30.0% in 2019-20 and the unemployment rate for women has come down from 5.1%

Global Employment Trends for Youth: ILO

Global Employment Trends for Youth: ILO A report titled "Global Employment Trends for Youth 2022: Investing in transforming futures for young people" was just released by the International Labour Organization (ILO). Findings related to India: Youth Employment Decline: Compared to its value is 2020, the youth employment participation rate fell by 0.9% over the first nine months of 2021, while it rose by 2% for adults over the same period. For extremely young people

Periodic Labour Force Survey 2022

Periodic Labour Force Survey 2022 The Periodic Labour Force Survey (PLFS) was just released by the National Statistical Office (NSO). In metropolitan areas, the unemployment rate decreased from 9.8% in July-September 2021 to 7.2% in July-September 2022. What are the main conclusions of the PLFS (July–September 2022)? Unemployment Ratio: The percentage of unemployed people among those who are eligible for employment is referred to as the unemployment ratio. 6.6% of mal