Slowdown bites jobs growth in India as unemployment rises 10% in 2 years

Posted By: Religare
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Unemployment in India rises 10% in 2 years
The government of India, which claims to have worked according to a jobless growth model, failed to arrest the rise in unemployment that rose 10 per cent in last 2 years as the domestic economic growth slowed down amid lack of infrastructure development and stalled projects.

The data released by the National Sample Survey Organisation (NSSO) showed that 10.8 million people were without any job on January 1, 2012 as compared to 9.8 million on January 1, 2010.

Analysts said that it reflects the slowdown in growth to 6.2 per cent in FY'12 and to 5 per cent in FY'13 has much more implications that thought.

They also said that unemployment indicator could be even higher, if the surveyor took only the prime activity into account. NSSO has collected unemployment data on basis of a person's primary area of activity, as well as his other optional works.

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