Post-demonetisation, unemployment highest in India in 45 years

unemployment rate highest

The Hush Post |17:40 am |two-minute-read

The unemployment rate in India was at its highest at 6.1 per cent in 2017-18. This data is as per the National Sample Survey Office’s Periodic Labour Force Survey. The NSSO’s annual survey of 2017-18 is the first after November 2016. It was then that Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1,000 currency notes.

The report has been at the centre of a controversy. This after two members of the National Statistical Commission resigned this week. They resigned protesting against the withholding of the NSSO’s (National Sample Survey Organisation) first Annual Survey on Employment and Unemployment for the year 2017-18, which contains data on job losses in the wake of demonetisation.

PC Mohanan confirmed that one of the reasons why he resigned was the delay in the release of the report. The report was due to be released in December 2018.

“Over a period, it was noticed the government does not take the NSC seriously. NSC was kept out while key decisions were taken. We were unable to effectively discharge our duties,” he said.

Unemployment has been highest in India since 1972-1973 as per the NSSO report

As per the Business Standard, the NSSO report showed that unemployment was at its highest since 1972-73. According to the survey, the unemployment rate stood at 2.2 per cent in 2011-12, during the United Progressive Alliance’s second term.

Unemployment among youth in urban areas was higher than in rural areas. It was 18.7 per cent for men and 27.2 percent for women in 2017-18 as per a survey report.

Questioned about the resignation of the two members, the Ministry of Statistics and Programme Implementation clarified on Wednesday that it was “processing” the quarterly data and the report would be released after that. It also said the two members had never voiced their concern in the past few months.

“Keeping in view India’s strong demographic dividend and around 93 per cent of the informal workforce, it is important to improve measures of employment through administrative statistics and complemented by periodic surveys,” the Ministry of Statistics and Programme Implementation said in its statement on Wednesday.

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