The Genesis India Employment Indicator in January 2019 has improved marginally to 67 from 65 in September 2018. It has also been showing month on month improvement in employment situation in the country. However it is still not adequate enough to provide jobs for all potential employable population in the country.
There is a slight rise in the employment situation from last three months and it is expected that the situation will not change drastically till May 2019 on the context of the General Elections in India.
Under random sampling method, we have interviewed 5,764 respondents across the country in over 150 towns from metro & urban areas.
Sectors generating higher employment namely construction & automotive are down which has affected employment generation in the country. In Housing construction, only low cost (PMAY) Program are getting sold. While residential apartment in metro and urban cities are facing lull on account of higher prices which are probably beyond the budget of the middle class.
The steady progress from September 2018 suggests that, the respondents are optimistic about creation of new jobs. It has been observed that on an average 20-
report Anil Dhaneshwar, Managing Director of GMMR said, “the job market will improve steadily and any efforts 25-30 lakhs jobs are created on monthly basis. But due to the higher employable population base this number is still not adequate enough to address the growing unemployment situation in the country.
Due to the continuous draught like situation in large parts of India, for year 2018 has also affected agricultural employment mostly in rural areas.
According to Government estimates, in organized job market 54.7 crore population is employed.
According to our estimates, the unorganized job market which includes marginal workers and housewives the population is approximately 20 Crore.
Currently there are 76 Crore potentially underemployed/ unemployed population in Metro & Urban areas. To add to that approximately 6 Crore from Rural areas the figure goes to 16 Crore potentially unemployed population in India.
The reason for unemployment may be voluntary un-employed or potential un-employability because of lack of skill required for the job. The proportion of such population roughly ranges between 12-15% of unemployed at any point of time.