News: Five Mn job lost since 2016: Report

#Csuite

Five Mn job lost since 2016: Report

The report ‘The State of Working India (SWI) 2019’ report reveals that five million individuals lost their jobs between 2016 and 2018.
Five Mn job lost since 2016: Report

The State of Working India (SWI) 2019 report, released by the  Azim Premji University reveals that five million individuals lost their jobs between 2016 and 2018.

The reason for the job loss has been primarily pointed at the implementation of demonetization in November 2016. However,  no direct causal relationship can be established. The report also found that in addition to rising unemployment among the higher educated, the less educated workers have also seen job losses and reduced work opportunities since 2016. 

The SWI report is based on the Consumer Pyramids Survey of the Centre for Monitoring the Indian Economy (CMIE-CPDX). CMIE is a Mumbai-based business information company with an independent think tank. This survey is an ongoing nationally representative panel survey of around 1.6 lakh households and 5.22 lakh individuals, conducted every four months.

The report also highlighted that urban women were most affected by job loss. Among the women, graduates are 10% of the working-age population but 34% of the unemployed. The age group 20-24 years is over-represented among the unemployed. Among urban men, this age group accounts for 13.5% of the working-age population but 60% of the unemployed.

Amit Basole, associate professor at Azim Premji University, was quoted sharing in media, "In the absence of official numbers from the Periodic Labour Force Survey (PLFS), the only other household survey available for us to take stock of the employment situation is the Consumer Pyramids Survey of the Centre for Monitoring the Indian Economy (CMIE-CPDX)."

Topics: C-Suite

Did you find this story helpful?

Author


QUICK POLL

Is technology the answer to new-age talent acquisition challenges?

On News Stands Now
q_auto,f_auto/v1560247231/mag-june-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

In the next three years, 120 million jobs in the world’s 10 largest economies will need retraining or re-skilling. To adapt to this new environment and help shape it, employees need to embrace continuous learning. Amid these changes, HR needs to not think, act, or be like traditional HR; they need to understand their job is now “human transformation”. In this issue, we will focus on what HR leaders and organizations need to consider today to prepare for tomorrow.

Subscribe
And Save 59%

Subscribe now