Between 2000 and 2012, jobs grew by a mere 2% per year
As India heads towards a bruising general election, one of the key issues in the minds of both people and political parties is jobs. Big parties and their star campaigners can already be heard harping on the theme. The reason is that the jobs scenario has been decidedly grim for more than a decade. Between 2000 and 2012, jobs have increased at an abysmal rate of just 2.2% per year. Agricultural employment, the mainstay for over two thirds of the people, has practically not grown in these thirteen years. Manufacturing jobs have grown by just 4% per annum as industry languishes. The one sector showing big growth is services, but as recently released survey findings from the NSSO show, the bulk of it is in retail trade, construction and personal services, and these are transitory, low-paying and tough jobs.
Read the Economic Times news report here.