Interesting article by Shankar Acharya (see below). Among a range of insights he also highlights the fact that the employment trends in India are difficult to capture due to unavailability of data- something I have time and again highlighted.
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India: Where are the jobs?
By Shankar Acharya
This piece is the first in an occasional series on the Indian economy.
What’s happening to employment in India? We know that every year there are nearly 13m new entrants into the nation’s labour force. Are they getting half-way decent employment opportunities? What proportion of the labour force is unemployed? How widespread is under-employment? What sort of job security do workers enjoy? What are the trends in real wages? The truth is we don’t know, at least not for any year after financial year 2004/5, the last year for which the National Sample Survey 61st Round gives reasonably good employment information.
Those inclined to paint a rosy picture point to the unprecedented, rapid growth of total employment at 2.9 per cent a year between 1999/2000 and 2004/5 (according to NSS data), which was far higher than the 1 per cent per annum growth recorded from 1993/4 to 1999/2000.
...more
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