Trends of Jobless Growth in the Beginning of 21st Century: Evidences from the Indian Manufacturing Sector

Vidyarthi Vikas¹

¹Assistant Professor of Economics, A N Sinha Institute of Social Studies, Patna, Bihar, Email: drvidyarthivikas@gmail.com 

ABSTRACT:

There has been a constant phenomenon of unemployment in Indian Economy in particular and world in general. Youths are counted under several headcounts but never enumerated under unemployment codes due to the nature of economic growth coupled with political instability. Economists have coined a phenomenon i.e, Natural Rate of Unemployment. Despite the cheap labour and cheap natural resources, analysis of the manufacturing organised industry sector indicates that there is trend of employment displacing growth rather than employment creating growth. It may be apprehended that there may be planned stagflation in economy. This paper examines the status of Labour Force Participation Rate (LFPR), and Unemployment Rate (UR) and analyse the trend of jobless growth using Annual Survey of Industries Data and to analyse some important characteristics and put forward certain plausible hypothesis.

Keywords: Jobless Growth, Labour Force Participation Rate, Unemployment Rate, Industry, Employment Elasticity

DOI:

FULL TEXT:

---

REFERENCES:

Abraham, V. (2017). Stagnant employment growth last three years may have been the worst. Economic & Political Weekly, LII(38), 13-17.

Anthuvan, M. V. (2005). Jobless growth and unemployment. World Affairs: The Journal of International Issues, IX(1), 57-68.

Basole, A. (2019). State of working India. Centre for sustainable employment. Azim Premji University.

CMIE. (2021). Unemployment in India.

CMIE. (2024). Retrieved from www.cmie.com: https://www.cmie.com/kommon/bin/sr.php?kall=warticle&dt=20240701180501&msec=110

Friedman, M. (1968). Presidential address “the role of monetary policy”. The American Economic Review, LVIII(1).

Goldar, B. (2000). Employment growth in organised manufacturing in India. Indian Journal of Labour Economics,  XXVII(2).

Government of India (2014). Report on enemployment and employment survey. Chandigarh: Ministry of Labour & Employment Labour Bureau.

Himanshu. (2011). Employment trends in India: A re-examination. Economic and Political Weekly, 16(37), 43–59.

IHD. (2014). India labour and employment report: Workers in the era of globalization. New Delhi: Institute for Human Development.

IMF. (2018). Cyclical upswing, structural change. World Economic Outlook.

Indian Express (2019, June 06). Retrieved from https://indianexpress.com/article/india/unemployment-rate-at-45-year-high-joblessness-at-6-1-of-labour-force-5759095/

Kannan, K. P., & Raveendran, G. (2009). From jobless to job-loss growth gainers and losers during 2012–18 2019. Economic and Political Weekly, LIV(44), 38-44.

Kapsos, S. (2005). The employment intensity of growth: Trends and macroeconomic determinants. International Labour Office. Employment Strategy Papers.

Kumar, A. (2022). Right to work: Feasible and indispensable for India to be a truly civilized and democratic nation. Unpublished Report. New Delhi: People’s Commission on Employment and Unemployment.

Mitra, A. (2019). Rising unemployment in India a statewise analysis from 1993–94 to 2017–18. Economic and Political Weekly, LIV(50), 12-16.

Nagraj, R. (1994). Wages and employment in manufacturing industries: Trends, hypothesis, and evidences. Economic and Political Weekly, XXIX(4), 177-186.

Oner, C. (2021). Unemployment: The curse of joblessness finance & development. IMF. Retrieved from https://www.imf.org/external/pubs/ft/fandd/basics/unemploy.htm

Piketty, T. (2017). Capital in the twenty- first century. England: Harvard University Press.

Sanyal, K. (2007). Rethinking capitalist development: Primitive accumulation, governmentality and post colonial capitalism. London, New York, Delhi: Routledge.

Srivastava, N., & Srivastava, R. (2010). Women, work and employment outcomes in rural India. Economic and Political Weekly, 45(28), 49–63.

The Hindu (2019). Retrieved from www.thehindu.com: https://www.thehindu.com/business/Economy/unemployment-rate-at-45-year-high-confirms-labour-ministry-data/article62001095.ece#:~:text=The%20data%20released%20by%20Labour,for%20the%20rural%20was%205.3%25&text=Job%20seekers%20fill%20up%20f

Verick, S. (2018). Female labor force participation and development. IZA World of Labour. doi:10.15185/izawol.87.v2