news-details
Detail

The unemployment rate on its 4 years high during Demonetisation, according to official reports

The much talked ‘Gujarat model’ used by BJP to lure voters doesn’t seem to be fitting in pan India level. Prime Minister Narendra Modi, when he was just a contestant, promised 2 crores jobs in his election speeches. But, as the facts are revealing; the rate of unemployment rose to a four year high level in the fiscal year 2016-17 after demonetisation.

 According to a report by Business Standard, “The unemployment rate rose to a four-year high in 2016-17, when the government demonetised old currency notes, at the same time as more people joined the labour force looking for jobs, according to the findings of the Labour Bureau.

 

The unemployment rate stood was 3.9 per cent in 2016-17, compared to 3.7 per cent in the year 2015-16 and 3.4 per cent in the year 2013-14. The data is confirmed by the Bureau’s Sixth Annual Employment-Unemployment Survey.

 The unemployment rate refers to the proportion of the labour force available for work but unable to get a job.”

 According to Wikipedia, unemployed people are those who are willing and available to work, and who have actively sought work within the past four weeks. Those with temporary, part-time or full-time jobs are considered employed, as are those who perform at least 15 hours of unpaid family work.

 And the noticing thing is that Business Standard wrote that the Labour and Employment Minister Santosh Gangwar approved the report in December 2018, but its release has been withheld by the government.

 Just because elections are near and the reports are not so good, the Govt withheld the release of the report? 

 Earlier it was the Labour Bureau which published the reports on the Jobs, But Modi Govt replaced the Labour Bureau by the National Sample Survey Office’s period labour force survey. And this new office didn’t come out with any report on jobs of 2017-18 yet

You can share this post!