Jagmoha Garg News Delhi India has lost 550 jobs a day in last 4 years: Study

As many as 550 have disappeared every day in last four years and if this trend continues, employment would shrink by 7 million by 2050 in the country, a study has claimed.


Farmers, petty retail vendors, contract labourers and construction workers are the most vulnerable sections facing never before livelihood threats in today, the study by Delhi-based civil society group PRAHAR has said.


According to the data released by Labour Bureau early 2016, created only 1.35 lakh in 2015 in comparison to 4.19 lakh in 2013 and 9 lakh in 2011, the group said in a statement.


“A deeper analysis of the data reveals a rather scary picture. Instead of growing, livelihoods are being lost inon a daily basis. As many as 550 are lost inevery day (in last four year as per Labour Bureau data) which means that by 2050, in would have got reduced by 7 million, while population would have grown by 600 million,” the statement said.


The data clearly points to the fact that job creation in is successively slowing down, which is very alarming, it pointed out.


“This (rise in unemployment) is because sectors which are the largest contributor of are worst-affected. Agriculture contributes to 50 per cent of employment in followed by SME sector which employs 40 per cent of the workforce of the country,” the statement said.


The organised sector actually only contributes a minuscule less than one percentage of employment in India. has only about 30 million in the organised sector and nearly 440 million in the unorganised sector.


According to the World Bank data, percentage of employment in agriculture out of total employment in has come down to 50 per cent in 2013 from 60 per cent in 1994.


It said that the labour intensity of small and medium enterprises is four times higher than that of large firms.


It further said that the multinationals are particularly capitalistic a fact vindicated during investment commitments of $225 million made for the next five years during the Make in Week in February 2016.


However, what went unnoticed is that these investments would translate into creation of only 6 million jobs, it said.


needs to go back to the basics and protect sectors like farming, unorganised retail, micro and small enterprises which contribute to 99 per cent of current livelihoods in the country. These sectors need support from the Government not regulation. needs smart villages and not smart cities in the 21st century,” it added.
SOURCE: http://www.business-standard.com/article/current-affairs/7-million-jobs-can-disappear-by-2050-says-a-study-116101600378_1.html

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