Azim Premji University, Bangalore’s Center for Sustainable Employment released the report of ‘State of Working India 2019’ based on unemployment figures on Tuesday.
According to the report, around 50 lakh people have lost their jobs since November 2016. The time when the decline in jobs began collides with the time of the demonetization, but no ‘casual link’ can be established on the basis of the data. In the report, the unemployment rate has been described as 6% in 2018, which has been doubled in comparison to 2011.
It is worth noting that surveys conducted under the ‘Periodic Labor Force Survey’ leaked in January mentions the unemployment rate of India to be 6.1% in 2017-18. This is highest in the last 45 years.
Women have suffered more in this ‘unemployment race’. It is written in the report, “Whether or not the the declines in jobs is due to demonetization, but this is definitely the cause of concern and policy intervention is needed soon.”
This report shows that unemployment in general has increased rapidly since 2011. It is mostly highly educated and youth who are unemployed. In addition to educated in this time frame, job losses and job opportunities have reduced for less educated people. Also, it has been said in the report that there has been a huge upheaval in the Indian labor market in the last three years. The report claims that unemployment has emerged as a primary economic issue in the elections. Demonetization has affected bankers, the general public, and the youth. This one decision snatched employment from many others.
Voting has started for the 2019 Lok Sabha elections. But BJP does not mentions unemployment, GST or demonetization in any rally. It is trying to hide its failures and is still struggling to form its government.