Job Crisis in India: Due to Corona, there is a bad condition of jobs in the country. As the wave of the pandemic accelerates, the number of jobs is also decreasing. Due to this epidemic, 1.54 crore Indians lost their jobs in May last month. For the last one year, there has been a pause on economic reforms in the country.
The havoc of the epidemic has started doubly affecting the stomach of the people. From the current unemployment figures, there is no possibility of any improvement even further. The purchasing power of consumers has weakened since July 2020 and the economy is showing no signs of recovery. This report has been released by the Center for Monitoring Indian Economy (CMIE).
Not getting job due to lack of opportunity
According to the CMIE report, in April this year 397 crore people had jobs but in May this number has come down to 375 crore. According to the report, during April and May, when the second wave of corona was on the rise, there was a tremendous cut in jobs. After the imposition of lockdown by many states, it accelerated further. The report said that in April and May, there was a decline of 2.3 crore in salaried and non-salary jobs. The latest data showed that out of crores unemployed, 5.07 crore people are actively looking for employment but there is shortage of opportunities. They are not getting jobs due to shortage.
Unemployment rate at 12 percent in May
According to the estimates of Center for Monitoring Indian Economy (CMIE), the unemployment rate stood at 12 percent in May from 8 percent in April. According to CMIE, the main reason for loss of employment is the second wave of Covid-19 infection. People who have lost their jobs are finding it difficult to find new jobs. Employment in the unorganized sector is rapidly created, but it takes time to get good jobs in the organized sector. It is noteworthy that in May last year, due to the nationwide ‘lockdown’ imposed for the prevention of corona virus epidemic, the unemployment rate had gone up to a record level of 23.5 percent. Many experts are of the opinion that the second wave of infection has reached its peak and now the states will start allowing economic activities by gradually easing the restrictions.
97 percent of households have a low income
CMI completed a nationwide survey of 1.75 lakh families in April. Due to this, a worrying situation has come to the fore regarding income generation during the last one year. Of the households surveyed, only 3 percent said that their income has increased while 55 percent said that their income has decreased. In the survey, 42 percent said that their income has remained the same as last year. He said that if inflation rate is adjusted, we estimate that 97 percent family income in the country has come down during the pandemic.