Now Manmohan Singh should learn the raincoat mythology from Mr PM that “How he has been untouched by Unemployment Crises so far”.
In Februray 2017, Minister of state for planning Rao Inderjit Singh admitted in Rajya Sabha during Question Hour and said that Overall unemployment rate is 5% in 2016, 4.9% in 2013, 4.7% in 2012 and 3.8% in 2011 (2014 & 2015 data are not available) while unemployment rate for OBCs & ST are 5.2% and 5% in 2016 accordingly. It was just 3.1% for ST in 2011
Labour Bureau says unemployment rate in India has peaked up to a five-year high at 5 per cent in 2015-16. Women are more vulnerable at 8.7% as compared to 4.3% for men.
Demonetisation exercise has taken away 2 lacs jobs. According to Labour Bureau, As many as 1.52 lakh casual and 46,000 part-time jobs were lost during October 2016 to January 2017. Though 1.22 lacs jobs were added in key sectors of the economy otherwise figure would be more distressed.
What is more haunting for Mr PM is 56000 job losses alone in IT Industry. With the IT giants such as Infosys, Wipro and Cognizant among others struggling to accommodate recent changes in visa regimes slaughtered by USA, EU and Australia. According to Kris Lakshmikanth, CEO of Headhunters, nearly two lakh IT jobs will disappear by March 2018.
Make in India, Start-Up India, Skill India & Mudra have been failed to create jobs for inclusive growth in the country.
Eligible workforce is still crawling Mr PM tweets of 2014 as above to see some reflection in the job market.
Figures can be more distress, if reports by The International Labour Organisation is considered. They said a stagnation in job creation next year at 3.4% in 2018.