Punjab job crisis: Note ban haunts as labour pleads for work at 1/3rd wages

Most end up consenting to compensation as low as Rs 150-Rs 200 while the official the lowest pay permitted by law is Rs 311.12 for an untalented worker and Rs 375.62 for a talented worker

Stress had put profound wrinkles on Balkara Singh’s temple however he was only 32 years of age. The day by day wage specialist, wearing a blurred blue sweater and pants, has gone to the Gol Diggi work center in southern Punjab’s Bathinda city each and every day throughout the previous five years to search for employments. Since the finish of 2016, he has returned home frustrated generally days. As well as could be expected trust in were around 10 days of work in a month, he said.

Neediness drove Balkara out of school when he was in Class 2 and his solitary dream was to see his kids – matured four and six- – complete their training. His little house in Amargarh town where he lives with his significant other, kids and guardians, is around 14 km from Gol Diggi. It takes two transport changes and Rs 30 to achieve the center point.

When we met Balkara toward the beginning of April 2019, he was never again beyond any doubt if his fantasy could ever worked out as expected. The move by the Narendra Modi government in November 2016 to pull back 86% of India’s money, by esteem, had thumped the scrape the bottom of the easygoing employments division which kept running on money installments – farming, little scale material units, chaotic retail organizations, and the travel industry as IndiaSpend has announced.

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Five million men, for the most part from the chaotic segment, lost their employments over the two years following demonetisation, said another report ‘Territory of Working India 2019’. This most recent gauge of occupation misfortunes was distributed by the Center for Sustainable Employment (CSE), Azim Premji University, Bengaluru, and discharged on April 16, 2019. The numbers would have spiraled if ladies somehow managed to be incorporated into the examination. As Punjab cast a ballot on May 19 in the progressing general races to the Lok Sabha, we investigate the state’s casual occupations emergency.

The joblessness rate in Punjab in November 2016- – when demonetisation was reported – was 4.9%, which expanded to 6.1% in December 2016 as indicated by the Center for Monitoring Indian Economy, a consultancy. This joblessness rate achieved 8.9% in June 2017 and further expanded to 9.2% on the main commemoration of demonetisation in November 2017. In October 2018, the figure achieved 11.7%, and by February 2019, recorded 12.4%…

5 million men lost their jobs after demonetisation, says SWI 2019 report

Though the report does not establish any causal link with the note ban, it says the labour force participation started falling suddenly between September and December 2016 for both urban and rural men

Economy News: According to an analysis by Bengaluru-based Azim Premji University researchers, five million men lost their jobs between 2016 and 2018. The beginning of the decline in unemployment coincided with Prime Minister Narendra Modi’s demonetisation of high-value currency notes on November 8, 2016. The university released its State of Working India 2019 (SWI 2019) report here on Tuesday, adding to the already raging debate over employment generation at a time when India votes to elect a new government.

The government has not released the results of the new high frequency Periodic Labour Force Survey (PLFS) conducted by the National Sample Survey Office (NSSO). In its absence, the researchers have used data from the Consumer Pyramids Survey of the Centre for Monitoring the Indian Economy (CMIE-CPDX) to understand the employment situation between 2016 and 2018. The CMIE-CPDX is an ongoing nationally representative panel survey of around 160,000 households, conducted every four months.

According to the report, the labour force participation started declining suddenly between September and December 2016 for both urban and rural men. The rate of decline slowed down by the second half of 2017, but the general trend had continued and there had been no recovery, SWI 2019 said, adding that though the timing of the decline coincided with demonetisation in November 2016, the researchers could not bring any causal link based on these trends. The Work Participation Rate (WPR) declined as well but not as sharp as the Labour Force Participation Rate (LFPR).

SWI 2019 found that between January to April 2016 and September to December 2018, the urban male LFPR fell by 5.8 percentage points while the WPR for the same group fell by 2.8 percentage points. The SWI report states that the unemployment rate has steadily increased to around 5 per cent in 2015 and then just over 6 per cent in 2018. Both the PLFS and the CMIE-CPDX report the overall unemployment rate to be around 6 per cent in 2018, double of what it was in the decade from 2000 to 2011…