According to data given by the Centre for Monitoring Indian Economy (CMIE) , 8.8 million people joined the workforce in April, one of the highest increases in the labour market since the outbreak began. However, the available positions were insufficient in comparison to the demand, the report said.
According to CMIE Managing Director and CEO Mahesh Vyas, India's labour force surged by 8.8 million to 437.2 million in April, one of the greatest monthly rises since the pandemic began. He said that the country's labour market was at 428.4 million in March.
As per the data, the average monthly increase in the country's labour force was 0.2 million in 2021-22. It shows an 8.8 million increase in labour force participation could only be achieved if some working-age persons who were unemployed in April joined the workforce. This is due to the fact that the working-age population cannot increase by more than two million every month, and any increase over that means that individuals who were unemployed returned to work, according to the research. It's worth noting that the 8.8 million gain in April comes after a 12-million drop in the previous three months, according to the report.
Vyas said, the labour market is dynamic, with workers flowing in and out based on need. In April, employment increased in both industry and services. According to the figures, the industry added 5.5 million jobs and services added 6.7 million.
Manufacturing added 3 million jobs to the economy, while construction added nearly 4 million. According to CMIE data, employment in the agriculture industry declined by 5.2 million. The new industrial positions are unlikely to be of higher quality because the increase was primarily among daily wagers and small dealers.
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