Employment in India is increasing, with more jobs being created than the growth in the population.
The worker-population ratio has risen from 34.7% in 2017-18 to 43.7% in 2023-24, indicating more people are employed.
While jobs are growing, real wages for regular salaried jobs have not kept up with inflation over the past seven years.
This means people’s wages are not increasing enough to match the rising cost of living.
The main reason for stagnant wages is the lack of skilled workers.
The country needs to focus on improving skills training to match the needs of the job market.
Better skills lead to increased productivity, which in turn can drive higher wages.
The government is taking steps, but more work is needed at the district level to improve skilling and create jobs.
India has an opportunity to leverage its growing population, but to fully take advantage, improving the quality of education and training is crucial.
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