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CRISIL Research Report Employment Eco Insight Aug 2011

CRISIL Research Report Employment Eco Insight Aug 2011

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Published by Firstpost
CRISIL Research Report Employment Eco Insight Aug 2011
CRISIL Research Report Employment Eco Insight Aug 2011

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Published by: Firstpost on Aug 18, 2011
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Economy InsightsEconomy Insights
August 2011
Vidya MahambareRamola Nadkarni
Employment in India
Uneven and Weak 
Employment in India: Uneven and Weak 
A study by CRISIL Centre for Economic Research
 Analytical contacts
Vidya Mahambarevmahambare@crisil.com
Employment in India: Uneven and weak
Key points
India needs at least 55 million additional jobs by 2015–twice the job addition between 2005 and 2010–tomaintain the current ratio of employed people to total population of 39 per cent. The estimate assumes thatthe number of self-employed persons will decline by nearly 25.5 million, as it had happened during 2005-2010.
With millions of people employed today either retiring or losing their jobs, new job hiring will have toexceed 55 million by 2015.
For growth to be inclusive, employment intensity of production will have to increase. Employmentintensity– the number of employed persons per lakh of real GDP – declined to 1.05 in 2010 from 1.71 in2005.
Appropriate policies are needed to complement high growth for facilitating the required job creation. Easingdemand constraints in manufacturing through labour reforms and supply constraints in services through fast-track reforms in higher education will be the key for future job growth.
Between 2005 and 2010 the addition in jobs was 27.7 million but the number of self-employed peopledecreased by 25.5 million. This restricted the increase in number of employed people to 2.2 million.
The pattern of employment generation was lopsided during 2005-2010. In manufacturing - a crucial source of  jobs for relatively low-skilled labour - employment declined by nearly 7 per cent, despite a faster growth inmanufacturing output. In services, employment growth slowed in financial intermediation and businessservices – a key source of salaried jobs. In contrast, employment grew by almost 70 per cent in theconstruction sector, but it was mainly in casual jobs.

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