Unemployment in India to witness marginal increase: ILO

In a 2017 World Employment and Social Outlook report released by the United Nations International Labour Organisation (ILO) on last Thursday, unemployment in India is projected to witness marginal increase from 17.7 million last year to 17.8 million in 2017 and 18 million next year. In percentage terms, unemployment rate will remain at 3.4 per cent in 2017-18, signalling stagnation in job creation in the country. It finds economic growth trends lagging behind employment needs and predicts both rising unemployment and worsening social inequality throughout 2017.

India had performed slightly well in terms of job creation in 2016, when a “majority” of the 13.4 million new employment created in Southern Asia happened in the country. India’s 7.6 per cent growth in 2016 helped Southern Asia achieve 6.8 per cent growth that year, the report mentioned. Continue reading “Unemployment in India to witness marginal increase: ILO”

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