The number of employed people in the country has increased by about 5% to 58 crore in the financial year 2022-23. This has emerged from the estimates being prepared by the Reserve Bank of India (RBI). According to preliminary findings of the report, the number of employed people has increased by nearly 3 crore from 55.3 crore in 2021-22.
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In the last five years, 11 crore jobs have been added in the country
People with knowledge of the matter said that 11 crore jobs have increased in India in the last 5 years. Only 47 crore people got employment in 2017-18. According to the 2021-22 statistics, agriculture and allied sectors have created the highest number of 23.7 crore jobs.
This was followed by 6.8 crore jobs in construction and 6.3 crore jobs in trade. The lowest number of jobs, 3.24 lakh, were in industries involved in the production of petroleum products. The plastics industry has created more than 13 lakh jobs.
Opportunities closed during the pandemic are reopening
Pronab Sen, noted economist and former director of the India Program at the International Growth Center (IGC), said that last year, Corona had a severe impact on employment, causing the unemployment rate to rise to 9% compared to our normal rate. is 3%.
He said these are not new job opportunities, but re-opening of job opportunities that were closed during the pandemic. Therefore, it cannot be considered as motion. Instead, it indicates that our economy is recovering from the Covid year.
Growth matters
Dr. B.R. Ambedkar School of Economics University, Bengaluru Vice Chancellor Professor N.R. Bhanumurthy said the increase of around 2.7 crore between two years is a big number. It shows the number of jobs created during that period. This increase is significant as both organized and unorganized sectors were badly affected during the Covid pandemic.
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According to RBI’s KLEMS database, total job creation in India has increased to 55.3 crore in 2021-22, as against 47.1 crore in 2017-18. That means more than 8.2 crore jobs were created.
RBI’s KLEMS data provides information on five key inputs of production – capital (K), labor (L), energy (E), materials (M) and services (S). The report will be released in a few months.
When how many people were employed
Number of people employed in a year
47.1 crore in 2017-18
48.3 crore in 2018-19
52.2 crore in 2019-20
54.4 crore in 2020-21
In 2021-22 Rs. 58 crores (approx.)
Source: RBI KLEMS Database