Unemployment in India on the rise, rural women worst hit

June 21, 2013

Unemployment_in_India

New Delhi, Jun 21: Between 2009-10 and 2011-12, the proportion of people working slipped slightly in India, and the share of unemployed persons ticked up, a government report released on Thursday has revealed. In 2009-10, 36.5% of the population was gainfully employed for the better part of the year. By 2011-12, the proportion of such workers had dipped to 35.4%. Meanwhile the unemployment rate went up from 2.5% to 2.7%.

These findings form the crux of a survey on employment and unemployment carried out by the National Sample Survey Organisation (NSSO). The survey covered over one lakh households and was carried out between July 2011 and June 2012.

The pan-India figures hide a deepening chasm between job opportunities for men and women. While the share of employed men remained roughly constant between 2009 and 2012, women's employment dropped from 18% to 16%.

This may appear a small decline, but when translated into real numbers, the crisis in employment is stark. In rural areas, about 90 lakh women lost their jobs in the two-year period. This would have been catastrophic but for the fact that in urban areas about 35 lakh women were added to the workforce.

Men joined the workforce in both urban and rural areas, though they got many more opportunities in towns and cities than in rural areas. Men's participation in the workforce jumped from 99 million to 108 million in urban areas and from 228 million to 231 million in rural areas.

Kerala had the highest unemployment rate of close to 10% among larger states. West Bengal (4.5%) and Assam (4.3%) were other large states with relatively high unemployment rates. Among the smaller states, Nagaland had a staggering jobless rate of 27%, but this may be compromised data as surveys are difficult in strife-torn areas. Tripura, another north-eastern state, but relatively more peaceful, too had a high unemployment rate of over 15%.

The NSSO report also contains striking information on daily wage rates of casual labourers and regular or salaried employees. Wages given to casual labourers in the government's job guarantee program (MGNREGS) were lower than similar work elsewhere and more than a third lower than other types of casual work. In the job guarantee scheme, male workers were getting an average of Rs 112.46 per day, while in non-MGNREGS public works the rate was Rs 127.39. In non-public works wages stood at Rs 149.32. For women, the average was more similar at about Rs 102-110, though lower than men for the same work. This appears to go against a widely held belief that MGNREGS wage rates are setting the standard for all other wages in rural areas.

The wide difference in wage rates in urban and rural areas explains why people are migrating from their homes to live in cities to earn a living. A male casual laborer earned about Rs 150 per day in rural areas, but his urban counterpart got Rs 180 a day. Similarly, a salaried employee could earn about Rs 300 per day in rural areas but in urban areas the daily earning would shoot up to nearly Rs 450.

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March 24,2020

New Delhi, Mar 24: Thirty-two states and Union Territories (UTs) have announced complete lockdown to check the spread of the coronavirus in the country, informed the Central government on Tuesday.
There is a complete lockdown in as many as 560 districts of the country affecting several hundred million people.
Earlier, the complete lockdown was imposed in 30 districts, as of now, almost the entire country is in lockdown to restrict public movement in an attempt to break the chain of transmission of coronavirus.
Three states -- Uttar Pradesh, Madhya Pradesh and Odisha -- have announced lockdown in select districts with the governments continuously monitoring the situation and ready to extend the restrictions to other districts as well.
The Union Territory of Lakshadweep has announced restrictions on certain activities.
The Indian Railways has suspended all passenger train operations till March 31 in view of coronavirus.

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News Network
May 28,2020

New Delhi, May 28: With 6,566 more coronavirus cases and 194 deaths reported in the past 24 hours, India's COVID-19 tally reached 1,58,333 on Thursday, according to the Union Ministry of Health and Family Affairs.

The number of active coronavirus cases stands at 86,110, while 67,692 people have recovered and one patient has migrated, it said. The death toll due to the infection has reached 4,531 in the country.

Maharashtra is the worst affected state with 56,948 cases. Tamil Nadu has recorded as many as 18,545 cases while Gujarat and Delhi have recorded 15,195 and 15,257 coronavirus cases respectively.

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Agencies
July 24,2020

Mumbai, Jul 24: Reliance India Limited (RIL) on Friday overtook ExxonMobil to become the world's second most valuable energy company and 46th among the world's largest companies by market capitalisation.

RIL's market capitalisation stood at Rs 14.16 lakh crore (USD 189.3 billion) at market close on Friday. ExxonMobil's current market value is USD 184.77 billion.

"Reliance Industries, with a market capitalisation of USD 189.3 billion now is the second-most valuable energy company in the world. Reliance Industries now stands at 46th among the world's largest companies by market capitalisation ahead of well-known names like ExxonMobil, Abbott Laboratories, Oracle Corp, Chevron and Unilever Plc, and just below PepsiCo," RIL said in an official release.

RIL continued its rally on Friday, notwithstanding overall weak market conditions.

RIL shares made a new all-time high of Rs 2,163 and were last traded at Rs 2,148.8 on NSE with a gain of 4.4 per cent. The market capitalisation of fully paid-up shares stands at Rs 13.62 lakh crore (USD 182.06 billion), the release said.

Reliance partly paid-up shares gained 9.33 per cent on NSE today to last trade at Rs 1289.95. The partly paid-up shares now have a market capitalisation of Rs 0.55 lakh crore (USD 7.29 billion).

"Reliance's share price had touched a bottom of Rs 867 on March 23, 2020, when the total market value of the company stood at Rs 5.5 lakh crore or $73.5 billion. Thus, RIL has added $115.9 billion to shareholder wealth within just four months - one of the highest value creation feats in the world in such a short time," the release said.

Reliance had earlier raised Rs 212,809 crore through Rights Issue, combined investments in Jio Platforms and investment by bp.

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