(image for representational purpose only)
Thousands of people on Wednesday gathered in Chennai to apply for 14 vacancies in posts like sweeper and sanitary worker. Wheat was more depressing that most of the applicants were bachelors and masters degree such as B.Tech, M.Tech and Master of Business Administration, holders.
This comes at a time when unemployment is increasingly becoming a very important matter in political discourse. The opposition parties have been constantly criticising the ruling BJP for not being able to provide adequate jobs to the youth.
As per the sources of labour bureau over the last several years the employment growth in India came down significantly during the period between 2012 to 2016 after the slight rise in the employment rate in the period between March 2010 to March 2012. Following this, the labour market saw the sharp decline of employment in 2013-14 of 4.9 per cent and in 2015-16 of 5 per cent primarily owing to sluggish performance of sectors like construction, manufacturing and information technology.
Besides, according to a survey of National Sample Survey – which is yet to be made public but has been reported in Business Standard, the rate of unemployment in India has reached up to the level of 6.1 per cent in the period of 2017-18 which is alarmingly highest in the last four decades.
The survey further states that among the rural males in the age group of 15-29 years the rate of unemployment was at 17.4 per cent three times greater than the rate of 2011-12 which was calculated 5 per cent. The Modi government however refutes this grim job data.
PM Modi and Finance Minister Piyush Goyal both cited the EPFO data in Parliament to drive home their point that job-creation has not fallen during the NDA govt era. The EPFO data provides figures on the number of new Provident Funds created in the organised/formal sector.