It also mentions:
- India also had the lowest percentage of jobless people among the BRIC nations.
- the employment to population ratio was also lowest in India at 50.5 per cent. This ratio was in the range of 66-71 per cent in the other three countries.
-In China and India, the rural sector is characterised by excess labour: despite significant rural-urban migration, almost two-thirds of Chinese workers are employed in rural areas and 79 per cent in India.
Understandably, the editorial in Economic Times - sees it as " the glass half-empty rather than half-full"
- According to the NSSO’s 61st round, while employment grew 2.48% per annum, labour force grew even faster at 2.54% per year.
- Today, we are riding high on our demographic dividend, the advantage that a large and young workforce gives us. But this is an asset only if we are able to create employment opportunities for them.
We need to act (read create more jobs) rather than get lulled into complacency by flattering reports, even from reputed bodies like the OECD.
Elsewhere in the world, it is construed as a reality check on the negative aspects of globalisation.
- the divide between high-earners and those at the bottom end of the scale had widened, and feelings of job insecurity had grown more acute.
- Offshoring was enough to fuel insecurity, especially among the low-skilled. The OECD urged governments to resist protectionist responses and instead adapt employment policies to help people move from one job to another with greater ease and sense of security.
Is there a lesson for all of us? One quick glance on who is hiring is enough to give us enough hints? The employment generated is mostly in service sector. And one can notice it is ironically the 'war for talent' one often hears of!!
Are there enough opportunities coming up in agriculture & manufacturing? Would all jobs have a future? What if some of the jobs just moved away...to cheaper locations? Would our people be skilled enough for transplanting their competencies?