Young voters want Jobs-Lets measure job creation every

month.
Every time growth numbers move up or down a few percentage points or the
industrial production data is announced, there is a frenzy of headlines and
markets react violently. Yet what these numbers provide is only a part of the
story. The most critical aspect of the story - jobs - is largely ignored.
For a decade now, basking in a high growth rate, we have been trumpeting our
demographic dividend. True, having among the largest working age populations
in the world is a blessing - but only if we are able to find productive jobs.
Otherwise this demographic dividend could turn into a demographic curse.
Youth Connect
What is inexplicable is that while the economic discourse focuses on the growth
rate, current account deficit and the rupee, there is almost no discussion about
jobs. We have regular disclosures of numbers like the IIP and inflation, but little
on the number of jobs created or lost during a given month, quarter or year.
Data on jobs - apart from being a great economic indicator - can also become a
potent political argument. Today 20% of the electorate consists of first time
voters, a group most analysts believe could influence the outcome of the 2014
polls. What these young people care about, above almost everything else, is
jobs. Any political combine that talks about jobs: the numbers it has created or
are planning to create through its economic programme would strike a chord
with these young voters.
One reason why there is little discussion about jobs is because our data
collection is just not good enough. We have data for the organized sector, which
provides for less than one tenth of all jobs in the country. Micro, small and
medium enterprises sector (MSME) provides 90% of the jobs, but we have little
data for this sector.
Where's the Data?
This skews our economic discourse as well as our economic policy making. Take
this year's Economic Survey for example: perhaps the first official attempt to
explore in some depth the so called demographic dividend. The Survey reveals
that over the next seven years India will have to provide for 11.8 million jobs,
just to make up for the number of people moving from agriculture to other
sectors.
It says that between 2009 and 2011 when the GDP grew at 8%, 8.5% and 6.5%
respectively, the organized sector was able to provide only 900,000 additional
jobs. Obviously the organized sector will be unable to provide these 11.8 million
jobs that are required and most of them will have to come from the MSME sector.

But if we do not have data on how our economic policies are impacting job
creation in the MSME sector, we will be shooting in the dark.

Job Creation sector wise from 19992009

Source NSSO surveys, Planning Commission, Govt of India

So we have to collect more data on jobs. This can be helped a great deal if
decision makers at the highest levels, the prime minister and finance minister
onwards, start discussing this on a monthly basis.
Economies like the US disclose data related to jobs on a monthly basis. To start
with, we should attempt to do it on a quarterly basis. It should also become a
part of our budget documents. We need data on an industry level and on state
level. Today, we tend to rank states by their growth numbers; we need to start

tracking them by the numbers of jobs created to get a clearer idea about the
best performing states. Peter Drucker once said what gets measured gets done.

Jobs as Ideology

The entire debate on FDI in retail would have had a completely different
complexion, if it had centred on how many jobs are likely to be created if global
majors invest in large format retail stores and associated supply chains. Take the
case of sectors like aviation, telecom and finance. De-regulation led to
competition and creation of millions of new jobs. Whatever the ideology, for a
political party to oppose measures that create jobs would become difficult. In this
process of creative destruction there will be some job losses as the old order
gives way to new, but if we can demonstrate that reforms will lead to greater and
importantly, more productive jobs, that will find resonance with people.
As campaigning for the 2014 elections starts to heat up, this is perhaps the best
time for parties to bring jobs to the centre-stage of our economic and political
discourse. That is something every voter will identify with.