55 Million Jobs by 2015
For those who are not aware, only 39 people out of every 100 in India is employed. If we take the rate at which population is rising, we would need at least 55 million more jobs to maintain only that ratio by 2015! These are the findings of CRISIL, a known house in the field of research. The study is based on a recently released National Sample Survey Organisation (NSSO) data on employment in India. Total employment includes jobs as well as self-employment.
Key Points of the survey
- Employment intensity – the number of employed persons per lakh of real GDP – declined to 1.05 in 2010 from 1.71 in 2005.
- Between 2005 and 2010, the addition in jobs was 27.7 million but the number of self-employed people decreased by 25.5 million. This has restricted the increase in number of employed people to 2.2 million.
- In manufacturing employment declined by about 7 per cent, despite a faster growth in manufacturing output
- In services, employment growth slowed in financial intermediation and business services
- Employment grew by almost 70 per cent in the construction sector, but it was mainly in casual jobs
369,200 more jobs by September
The organised sector in India created 704,800 jobs between January 2011 and June 2011 and 369,200 more jobs are expected to be created by September 2011, according to the latest findings of Ma Foi Randstad Employment Trends Survey – Wave2. The survey was conducted among 690 companies across 13 industry segments panning 8 Indian cities. The respondents included members of senior management and HR professionals who were questioned on specific areas relating to hiring plans across various timelines, manpower requirements for the current quarter vis-à-vis the last two quarters, and their views on how they see the job market to be in the year 2011.
Healthcare sector has remained the largest employment generator with 1, 15,000 jobs created in the period Jan-June 2011, followed by the hospitality sector with 94,000 jobs.
The IT/ITeS sector continues to grow at the same pace and has added 91,000 jobs in the same period.
In the cities, New Delhi, Mumbai and Chennai continue to lead the job market generating 1,39,700 jobs between January and June 2011, as predicted earlier this year.
The organized sector in India created 704,800 jobs between January 2011 and June 2011 and 369,200 more jobs are expected to be created by September 2011, according to the latest findings of Ma Foi Randstad Employment Trends Survey – Wave2.