Data shows millions of frustrated Indians give up job hunt, but Modi’s government remains unmoved
According to new data from the private research body Center for Monitoring Indian Economy (CMIE), more than 45 million Indians have given up on their job search after becoming frustrated with the process and failing to get one. a. This figure represents half of the 90 million Indians of legal working age, comparable to the total population of the United States and Russia.
Data showing the decline in the country’s labor market participation indicates that from 445 million it fell to 435 million in six years, from 2016-17 to 2020-2021. Only 40% of participants of legal age sought jobs in the industrialization process as a workforce in 2020-21, while in 2016-17 they accounted for 46% of total age workers legal according to a CMIE survey. This time the pandemic was not severe and therefore no need for containment arose.
According to estimates made on GDP growth, this showed a sharp contraction in economic activity of 24% in the quarter from April to June 2020. The popular masses had to suffer great tragedies and bear the brunt of them. impact on lives and livelihoods. The effects of the crisis that hit the entire population of the country slowly became visible as the economy shrank. The tragic shrinking process is still going on even though the worst phase has passed.
Currently, according to CMIE, in our country there are 1085 million able-bodied people of legal working age. They have every right to be employed, but they cannot.
Among women, labor market participation was much lower, at only double digits. It fell to 9.5% in 2021-2022. In 2016-17, this data was much higher at fifteen percent.
Among men, the participation rate rose from 74% to 67%.
In urban areas, the participation rate showed a greater decline than in rural areas. The decline in urban areas was estimated at 37.5% from 44.7%, a drop of 7 percentage points. The rate of decline was estimated in rural areas at 41.4% compared to 46.9%.