India Unveils New Employment Survey to Measure Economic Health
(Bloomberg) -- India released new employment data on Monday, as part of a survey to help the government fine-tune its policies in the wake of the pandemic that left millions jobless.
The survey will be conducted every quarter and will cover enterprises with at least 10 employees across nine sectors. An identical exercise for the unorganized sector is also planned from next year.
“This was a void which has been filled for the first time in the country,” Labor Secretary Sunil Barthwal told reporters in New Delhi. “Data deficit will no longer be there.”
More than 30 million people were employed in the three months to June, according to the survey. Although it did not provide comparable numbers for the year-ago period, the survey noted that 27% of the establishments saw employment decrease during the pandemic.
More recent private sector data has shown that over 10 million jobs were lost in the manufacturing sector alone because of the pandemic. India’s unemployment rate had started rising even before the virus hit as the economy slowed, prompting Prime Minister Narendra Modi to cut corporate taxes and ease investment rules to attract companies.
More new policies are needed to drive growth and create jobs, given about 12 million young people enter the workforce every year.
India’s statistics office also collects separate estimates on various labor force indicators, with a quarterly one for urban areas and an annual survey for the hinterland though it comes with a lag.
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