Unemployment rate in India a record high in 45 years says leaked report

a representational image (Source: Social Media)
The Labour Force Participating Rate is a measure of people looking for jobs. So, if this is declining while unemployment is growing, it means that there is a very real and serious crisis in jobs. It means youths are disappointed and have left seeking jobs now.

According to a leaked report on unemployment data from the National Sample Survey Office’s (NSSO’s) published in Business Standard shows unemployment a record high in 2017-18. The report seems to be a validation of trends being seen on the ground, according to labour economists, job-seekers and workers’ representatives. It is the main reason they opine government not disclosing the data pertaining to it that led resignation of two independent officials – acting chief of the NSSO PC Mohanan and member J V Minaskhsi. Delay in releasing official data on unemployment was one of the reasons behind their resignation as claimed in the media.

“The NSSO findings are not surprising, but they are alarming. The trends of rising unemployment were already visible. Our analysis showed it was higher in 2015 than in 2011-12, and we expected demonetisation to have a harsh effect,” The Hindu quoted Amit Basole, head of the Centre for Sustainable Employment at Azim Premji University in Bengaluru, and lead author of a report, “State of Working India, 2018” as saying.

The survey, conducted by the National Sample Survey Office (NSSO) between July 2017 and June 2018, showed that the unemployment rate stood at 6.1 percent, higher than the previous high point reached in 1972-1973.

That year, when India was just coming out of a war with Pakistan and hit by global oil shocks like other oil-importing countries, the unemployment rate was 5.18 percent.

The report also said that Labour Force Participating Rate came down from 39.5 percent of 2011-12 to 36.5 percent in 2017-18. It means job seekers got dissappointed and they left seeking jobs in a state of hopelessness.

Rahul Gandhi, the Opposition leader said the job report was “a national disaster”. “NoMo Jobs! The Fuhrer promised us 2 Cr jobs a year. 5 years later, his leaked job creation report card reveals a National Disaster. Unemployment is at its highest in 45 yrs. 6.5 Cr youth are jobless in 2017-18 alone. Time for NoMo2Go,” he tweeted.

Narendra Modi’s unhappy parliamentarian Shartughan Sinha also hit out at his leadership saying the crisis of unemployment was a difficult test for him. In his back to back four tweets, he said this report seemed to be latest tough Pariksha (examination).

“India’s unemployment rate is the highest in 45 yrs. After the job data was reviewed, the concerned officials resigned as they were unhappy with delay in the process. Sirji, after ‘Pariksha pe Charcha‘ this seems to be the latest tough Pariksha. Instead of coming out clean after the Rafale deal etc. this seems to be the most difficult ‘Pariksha’ based on hard & true facts. Our people are yet again taking the old route of diverting attention, especially when elections are round the corner by harassing some of the important & prominent leaders of our country along with their people from U.P. to Bengal. False promises, policies & performances, what answers do we have Sirji? There is a proverb in English,….’You can fool all the people some of the time & some of the people all the time, but you cannot fool all the people all the time. God Bless! Jai Hind!” he tweeted.

CPI parliamentarian Sitaram Yechury also questioned Modi’s promise to create 10 crores fresh job after the publication of the leaked report.

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