Country's Unemployment Shoots up by 5 Pct; Highest in Five Years

By SiliconIndia  |   Wednesday, 05 October 2016, 04:56 Hrs   |    1 Comments
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BENGALURU: A recent Employment-Unemployment (EU) survey report conducted by the Labour Bureau suggests the fact that India is experiencing a rise in the unemployment by 5 Pct. The survey also states that over a third of the currently employed population has been working less than a year and tragically, almost 68 Pct of households manage to earn only up to 10,000 per month. The survey was carried out last year between April and December on 7.8 lakh individuals residing in 1.6 lakh households.

As always, when compared to rural areas, more and better paying jobs are available in urban areas. Considering the current status of job opportunities available, a soaring 82 Pct of the total job seekers get jobs in urban areas and only 53 Pct of rural job seekers are able to achieve such a feat.

Furthermore, about 42 Pct of the total workers residing in rural areas primarily depend on the seasonal agricultural activities. This explains the fact that almost over 77 Pct of the rural households earn an average monthly income that lies below 10,000. On the other hand, households in the urban areas manage to earn between 10,000 to 50,000 per month.

Focusing on the status of women's employment, the survey suggests that 8.7 Pct of the women have no jobs. Comparison with the previous surveys sighted a rise in the unemployment rate from about 3.8 Pct in the year 2011 to 4.9 Pct in 2013, resulting in a slower economic progress. The tragic situation intensified further with a 7.3 Pct rise between 2015 and 2016. Additionally, about 47 Pct working individuals were self-employed, which mostly includes shopkeepers and farmers.

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1: yep
Posted by:karan - 11 Oct, 2016