Breaking News - Unemployment in India is projected to witness marginal increase between 2017 and 2018, signalling stagnation in job creation in the country, according to a UN labour report.
The United Nations International Labour Organisation (ILO) released its 2017 World Employment and Social Outlook report on Thursday, which finds economic growth trends lagging behind employment needs and predicts both rising unemployment and worsening social inequality throughout 2017.
Job creation in India is not expected to pick up pace in 2017 and 2018 as unemployment rises slightly, representing a near stagnation in percentage terms.
"Unemployment in India is projected to increase from 17.7 million last year to 17.8 million in 2017 and 18 million next year. In percentage terms, the unemployment rate will remain at 3.4 per cent in 2017-18," the report added.
India had performed slightly well in terms of job creation in 2016 when a "majority" of the 13.4 million new employment created in Southern Asia happened in the country.
The report also acknowledged that India's 7.6 per cent growth in 2016 helped Southern Asia achieve 6.8 per cent growth that year.
"Manufacturing growth has underpinned India's recent economic performance, which may help buffer demand for the region's commodity exporters," it added.(Read more)
No comments:
Post a Comment