'Not only jobs are not being generated, but people are also losing jobs.'
The wage data from the latest NSS round throw up some really wonky stuff.
Financial and business magazine Forbes has warned that India faced the risk of jobless growth, saying its booming services sector was too small to provide employment for the burgeoning work force.
Jobless growth has found a new home - India's life insurance companies. In the last financial year, private life insurers reduced headcount by 27 per cent to achieve profitability.
Singh asserted that the domestic challenges of India's economy were daunting in their complexity and devastating in their impact on the society.
Top 10 trends for 2015 are deepening income inequality; jobless growth; lack of leadership; rising geostrategic competition; weakening of representative democracy; rising pollution in developing world; rising occurrence of severe weather events; intensifying nationalism increasing water stress and growing importance of health in the economy.
Growing protectionism in their main markets - the US and the UK - has forced them to hire local workers, upending the cost arbitrage model they had built their business on.
'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
The new Cabinet member says growth cannot come unless all sectors of the economy -- agriculture, manufacturing and services -- expand.
'it's not just youth in India who are left behind because of their inability to find jobs; nearly two-thirds of Indian women of working ages do not participate at all in the paid labour force.'
'The noise that we are hearing is because the five big IT players are not hiring significantly.'
'The first job you pick up may not be your ultimate dream job.' 'When the situation is no job or any job, my advice to them will be, pick up any job at the moment.' 'You should use that job as a learning experience.' 'It is easier to find a job when you are working somewhere than when you are sitting at home with no work.'
'When you do some job for a few hours, you are hardly earning enough to survive.'
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
'The policy focus of the government should have been on creating more good quality jobs but that was not their focus.'
According to principal advisor with the Planning Commission and former chief statistician, Pronob Sen, there were 40-45 million more people in the age group of 15-59 between 2004-05 and 2009-10. The unemployment rate has correspondingly fallen from 2.3 per cent to 2 per cent of the labour force.
The Geneva-based World Economic Forum would be playing host to 1,400 from top 1,000 companies around the world, 30 heads of states or governments, renowned academicians, artists and the faith leaders, including head of the Chinmaya Mission in New Delhi.
'Last year, India exported more software than Saudi Arabia exported oil.' 'Last year India got $83 billion of private equity.' '50 percent of India's FDI has come in the last five years.'
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Niti Aayog vice-chairman Rajiv Kumar debunked claims of jobless growth, saying how can a country grow at an average of 7 per cent without employment.
The gig economy can serve up to 90 million jobs in the non-farm sectors in India with a potential to add 1.25 per cent to the GDP over the "long term", a report said on Tuesday. The gig economy, where workers get hired typically for short durations, can lead to transactions of over $250 billion over the long term, the report by the consultancy firm BCG said. The firm said gig economy is not a new concept but has seen greater adoption following the advent of technology.
'It is building the country's infrastructure, and delivering it very efficiently.'
The party promised to contain inflation, pursue tax reforms and promote foreign investments.
The United Progressive Alliance's (UPA) growth story is far from truth and is mere a statistical jugglery.
Chief Economic Adviser K V Subramanian on Monday said India is likely to post current account surplus in the current financial year as there is moderation in import due to under heating of the economy triggered by the COVID-19 crisis. This crisis is different from what the world witnessed during the taper tantrum, he said while addressing a virtual conference organised by industry body CII. Taper tantrum phenomenon refers to the 2013 collective reactionary response that triggered a spike in US treasury yields, after investors learned that the US Fed was slowly putting brakes on its quantitative easing (QE) program.
The government has been accused of ushering the economy into a period of jobless growth.
Former chief statistician Pronab Sen says slow pace of growth has led to a rise in joblessness, but it is not huge.
Expressing concern over rising prices, the Congress party on Monday asked the government to deal with the issue of inflation with candour and courage and take stern action against hoarding and black-marketing.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
Warning against social consequences of increasing phenomenon of jobless growth in developing nations, India has said partnerships between governments and private sector can explore means of corporate social responsibility as an instrument for achieving productive employment and decent work for all.
Nearly 31 million Indians are unemployed and looking for jobs. While economic growth has been humming along, the pace of job creation has been poor. A revealing excerpt from Dev Kar's India: Still A Shackled Giant.
Rejecting criticism of jobless growth, he said if state after state is creating good number of jobs, how can the Centre be creating joblessness?
According to the global financial services major, following two years of sub 5 per cent growth, India's GDP is expected to be around 5.6 per cent in 2014-15 and around 6.5 per cent in 2015-16.
'You will see more and more people working independently -- starting beauty parlours, driving cars, etc.' This is what we call the gig economy.' 'The same people who have been laid off in India or are unable to get visas to work in the US may be part of this gig economy.' 'India needs billions of jobs, and it can only be created by self-employment or the gig economy.'
'One thing is sure: After this Budget, no Ambani-Adani tag will be attached to the government.'
The labour participation rate tells us how many of the working age population are willing to be employed. If this proportion keeps falling as it evidently is, it does not bode well for India's growth story. It renders all stories of a revival in the economy as a myth, warns Mahesh Vyas.
'High denomination cash notes which was 1.4 lakh crores of Rs 500 and Rs 1,000 notes in 2004 became Rs 15.5 lakh crores in 2016.' 'If it had been allowed, by 2022, it would have been Rs 34 lakh crores, and that would have been the end of the Indian economy.' 'Demonetisation was a huge hit on the head of the economy, but without the hit, you could not U-turn the economy.'
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