Thejobscrisis.com Website Review

 Despite the politically-charged nature of the debate around jobs, we need to debunk one needless myth: India’s problem is not one of jobless growth. We may have periods of low or no jobs growth, and then we have catch-up years in which jobs grow faster than usual. For example, the period from January 2017 till recently, when we saw huge disruptions—from demonetization to the implementation of the goods and services tax and the crimp on bank lending due to an attempt to resolve bad loans by recourse to bankruptcy courts—may have seen low or even negative jobs growth in some months, but the economy has a basic potential to create jobs most of the time. Read more Manufacturing’s golden age is gone. It is going through the same process of huge increases in productivity that agriculture witnessed in the 20th century. When productivity increases faster than demand for long periods of time, an industry has to shrink in terms of job  An HDFC Bank report on India’s tapering jobs growth says that “employment elasticity” in the economy is very low – for every one point rise in GDP, jobs grow only 0.15. Fifte*n years ago, it was 0.39. The economy’s job creating potential has shrunk 60 percent during the last decade-and-a-half. Put simply, we are close to literally achieving “jobless growth.” In the 2000-10 decade, India created 64 million jobs, most of it during the NDA tenure, but average annual employment growth has slipped from 2 percent in the 1970s and 1980s (the heyday of Indira Gandhi’s socialism) to 1.5 percent, says the HDFC Bank report. .Read more offered by the Indian Railways for positions ranging from engine drivers and technicians to track inspectors, some 2.4 crore Indians applied earlier this year. This huge number – which implies 266 job applicants for every job on offer – has been interpreted by many It is nothing of the kind. What this actually signals is a preference for secure and formal jobs – and not all the applicants may be