India Adds Over 8 Million Jobs In April The Largest Since The Corona Pandemic Hindi News | NewsBust India Adds Over 8 Million Jobs In April The Largest Since The Corona Pandemic Hindi News | NewsBust

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India Adds Over 8 Million Jobs In April The Largest Since The Corona Pandemic Hindi News

By Amit - May 15, 2022

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The country’s labor market stood at 428.4 million in March.

Kolkata:

In April, 8.8 million people got jobs since the start of the pandemic. This has come to light according to the data provided by the Center for Monitoring Indian Economy (CMIE). However, the jobs that did become available were far insufficient compared to the demand. CMIE Managing Director and CEO Mahesh Vyas said India’s labor force grew from 8.8 million to 437.2 million in April, the biggest monthly increase since the start of the pandemic.

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The country’s labor market stood at 428.4 million in March. According to the data, the average monthly increase in the country’s labor force in 2021-22 was 0.2 million. The report said an increase in labor force participation to 8.8 million was possible only when some working-age people who were out of jobs joined the working list in April. This is because the working age population cannot grow by more than two million per month and any further increase means that those who were out of jobs are back in jobs.

In fact, it is worth noting that the increase of 8.8 million in April comes after a decline of 12 million during the last three months. Vyas said that the labor market is dynamic as the workforce depends on the demand at a given point of time. The increase in employment in April was in industry and services. According to the data, the industry added 5.5 million jobs and services and added 6.7 million jobs. The manufacturing sector created 3 million jobs, while construction added about 4 million opportunities.

Also read: Appointment of new Chief Minister in Tripura, a big exercise to re-establish roots?

CMIE data shows that employment in the agriculture sector has declined by 5.2 million. The report said that part of the decline in farm opportunities may be a reflection of the end of the rabi harvesting season, adding that the decline in wheat production also acted as a contributing factor. Simultaneously, the report states that the new industry jobs added are unlikely to be of better quality as these growth has mainly occurred among daily wagers and small traders.

VIDEO: Central government banned the export of wheat, said- decided to reduce inflation

Amit

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