Kolkata:
In one of the largest labor market expansions since the start of the pandemic, 8.8 million people joined the workforce in April, according to data from the Center for Monitoring Indian Economy (CMIE).
However, the jobs that became available were insufficient compared to demand, it said.
India’s labor force jumped 8.8 million to 437.2 million in April, one of the largest monthly increases since the start of the pandemic, said CMIE director and CEO Mahesh Vyas.
The country’s labor market stood at 428.4 million in March, he added.
In 2021-22, the average monthly increase in the country’s workforce was 0.2 million, according to the data.
According to the report, an 8.8 million increase in the employment rate would only be possible if a number of people of working age who were out of work joined the workforce in April.
This is because the working-age population cannot grow by more than two million per month, and any increase above that implies those who were out of work went back to work, the report said.
It may be helpful to note that April’s 8.8 million increase comes after a 12 million drop in the previous three months, it said.
Vyas said the job market is dynamic, with the workforce flowing in and out, presumably depending on demand at any given time.
The rise in employment in April occurred in manufacturing and services. Industry added 5.5 million jobs and services added another 6.7 million jobs, according to the data.
Within the industry, 3 million jobs were created in manufacturing, while construction created nearly 4 million opportunities.
Employment in the agricultural sector fell by 5.2 million, CMIE data shows.
Some of the decline in opportunities in the agricultural sector could reflect the end of the rabi harvest season, the report said, adding that the decline in wheat production was also a contributing factor.
The new jobs in the sector are unlikely to be of better quality, as the increase was largely due to daily betting and small traders, the report said.
(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)