🅾️In light of recent debates on employment figures, analyze the structural issues in the Indian economy that may lead to an overestimation of job creation despite high economic growth rates. How do these structural challenges affect the quality of employment and the sustainability of economic development? Provide suggestions to address these issues.
🔰Ans : Structural Issues Leading to Overestimation of Job Creation
⚜️1. Shifts in Employment Structure:workers moving from urban to rural areas and from formal to informal sectors.
⚜️2. Data Collection and Methodology:relying on Work Participation Rates (WPR)
⚜️3. Sectoral Imbalances- growth has been concentrated in capital-intensive sectors
⚜️4. Quality of Employment: Poor
⚠️Suggestions : Improving the accuracy of employment data+ Promoting Labor-Intensive Sectors+ Investing in Skill Development+Formalization of the Informal Sector
🅾️In light of recent debates on employment figures, analyze the structural issues in the Indian economy that may lead to an overestimation of job creation despite high economic growth rates. How do these structural challenges affect the quality of employment and the sustainability of economic development? Provide suggestions to address these issues.
🔰Ans : Structural Issues Leading to Overestimation of Job Creation
⚜️1. Shifts in Employment Structure:workers moving from urban to rural areas and from formal to informal sectors.
⚜️2. Data Collection and Methodology:relying on Work Participation Rates (WPR)
⚜️3. Sectoral Imbalances- growth has been concentrated in capital-intensive sectors
⚜️4. Quality of Employment: Poor
⚠️Suggestions : Improving the accuracy of employment data+ Promoting Labor-Intensive Sectors+ Investing in Skill Development+Formalization of the Informal Sector
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