With the Labour Bureau releasing unemployment numbers for 2015-16, Manish Sabharwal, Advisory Board Member at IDFC Institute and Chairman of Teamlease Services, reflects on the debate about India's job growth.
Interestingly, Sabharwal said underemployment, instead of unemployment, was the right place to look to introduce positive change in employment trends in India. He also highlighted that the numbers released are not very pertinent to track the impact of policy changes made in this regard. Sabharwal said these unemployment figures were not relevant for India. These numbers are measured over too small a time frame and there’s not much that a government can do over “three days, three weeks or three months.” Recording changes in unemployment figures over three to five years makes more sense, as it gives a better indication of the changing employment trends in India. Sabharwal said that the result of “the skill agenda, the urbanisation agenda, the ‘Make in India’ agenda and the ‘Ease of Doing Business’ agenda” could be better judged over a longer time frame and are, in any case, bound to create good jobs.
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