There has been a massive increase in joblessness of at least 10 million due to COVID-19 on top of the 30 million already unemployed in 2019.\u00a0<\/span><\/p>\n According to the Periodic Labor Force Survey(PLFS), the number of new non-farm jobs generated between 2013-2019 was only 2.9 million, when at least 5 million were joining the labour force annually.<\/span><\/p>\n The agricultural output may have performed well during COVID and free rations may have alleviated acute distress.\u00a0<\/span><\/p>\n But this completely ignores that between 2019 and 2020, the absolute number of workers in\u00a0<\/span>agriculture increased from 200 million to 232 million, depressing rural wages \u2014 (a reversal <\/span>of the absolute fall in farm employment of 37 million between 2005-2012, when non-farm\u00a0<\/span>jobs were growing 7.5 million annually).\u00a0<\/span><\/p>\n According to PLFS, manufacturing employment increased between 2017-18 and 2019-20 by 1.8 million. But what this ignores is that between 2011-12 and 2017-18, manufacturing employment fell in absolute terms by 3 million, so recovery is hardly any consolation.\u00a0<\/span><\/p>\n Further, manufacturing as a share of GDP also fell from 17% in 2016 to 15%, then 13% in 2020, despite \u2018Make in India\u2019.<\/span><\/p>\n It is being said that GDP in FY22 could not have returned to the pre-COVID FY20 level without workers returning to work and MSMEs recovering. However, this is not true.<\/span><\/p>\n This is because the Consortium of Indian Association(CIA) conducted a survey of over 81,000 micro-businesses across India in June 2021 two months after the second wave was over.\u00a0<\/span><\/p>\n According to the survey, 59% of these MSMEs reduced their staff compared to pre-COVID levels; 88% of respondents had not availed of any government stimulus packages; 28% reported they were unable to get payment dues from their customers from private or government; 64% reported banks were not giving loans.<\/span><\/p>\n Source: <\/b>The post is based on the article<\/span> \u201cJoblessness on the rise in India<\/b>\u201d <\/b>published in <\/span>The Hindu <\/b>on 4th May 2022.\u00a0<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? There has been a massive increase in joblessness of at least 10 million due to COVID-19 on top of the 30 million already unemployed in 2019.\u00a0 What are the key highlights from the article? Less number of Non-Farm Jobs Generated According to the Periodic Labor Force Survey(PLFS), the number of new… Continue reading Joblessness on the rise in India<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10498],"class_list":["post-182701","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704869218},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/182701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=182701"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/182701\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=182701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=182701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=182701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What are the key highlights from the article?<\/b><\/h5>\n
Less number of Non-Farm Jobs Generated<\/b><\/h6>\n
Increase in Farm Employment<\/b><\/h5>\n
Manufacturing Employment<\/b><\/h6>\n
MSMEs have not recovered to Pre-Covid Levels<\/b><\/h6>\n