Organized sector jobs grew by more than 4% annually in 7 years

Organized sector jobs grew by more than 4% annually in 7 years

The newly revised Quarterly Employment Survey (QES) for the organized sector has shown that during the seven years leading up to the first quarter of the current financial year, the average employment in nine sectors grew by a little over four per cent annually.

The estimated total employment across nine sectors in manufacturing, construction, trade, transport, education, health, housing and restaurants, IT/BPO and financial services stood at 30.8 million against a total of 23.7 million during April-June, 2021. These areas were reported in the Sixth Economic Census. The census covers the period from January 2013 to April 2014.


This implies a growth rate of 29 percent over a period of about seven years.

Meanwhile, the survey also revealed that the decline in COVID-induced employment was evident in 27 per cent of the establishments during the first wave that hit the country from March 25 to June 30, 2020. The silver lining is that 81 percent of the establishments got their full wages during the lock down.

However, a total of 16 per cent received low wages and nearly three per cent were denied any wages.

In the construction sector, 27 per cent had to accept reduced wages and seven per cent had none. More than 90 percent of workers in health and financial services received full wages.

The new QES was launched on Monday by Labor Minister Bhupendra Yadav after it was suspended three years ago in 2018. The new QES has one more added area as compared to the previous one – Financial Services.

Highlights of the first round of quarterly employment survey:

• IT/BPO sector has recorded the most impressive growth of 152 per cent, while health is at 77 per cent, education at 39 per cent, manufacturing at 22 per cent, transport at 68 per cent. percent and in construction it is 42 percent. However, employment in business decreased by 25 percent and in housing and restaurants by 13 percent. Financial services saw an employment growth rate of 48 percent.

• About 90 per cent of the establishments are estimated to function with less than 100 workers. About 35 per cent of IT/BPO establishments operated with at least 100 workers, of which about 13.8 per cent employed 500 or more workers. In the health sector, 18 percent of establishments had 100 or more employees.

• The overall participation of women workers stood at 29 per cent, which is slightly less than the 31 per cent recorded during the Sixth Economic Census (2013-14).

• In nine selected sectors, regular workers constitute 88 per cent of the estimated workforce, of which only 2 per cent are casual workers. However, 18 per cent of the construction workers are contract workers and 13 per cent are casual workers.

• Only 9 per cent establishments (with at least 10 workers) were not registered under any authority or any Act. While 26 per cent of all establishments were registered under the Companies Act with 71 per cent registration in IT/BPO, 58 per cent in construction, 46 per cent in manufacturing, 42 per cent in transport, 35 per cent in business and 28 per cent registration. Percentage in financial services.

• About 18 per cent establishments have provision for on-job skill training programmes.

                                                    </div><div style="background: #fee8dd; padding: 12px; border: dashed 1px black; margin-bottom: 20px;">

mail Dear reader,

Business Standard has always worked hard to provide updated information and commentary on events that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even during these difficult times arising out of COVID-19, we are committed to keeping you informed and updated with relevant news, authoritative views and sharp comments on relevant relevant issues.
However, we have a request.

As we grapple with the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. Subscribing to more of our online content can only help us achieve our goals of providing you with better and more relevant content. We believe in independent, unbiased and credible journalism. Your support through more subscriptions can help us practice the journalism we’re committed to.

support quality journalism and Subscribe to Business Standard.

digital editor

.

—-*Disclaimer*—–

this is an unedited and auto-generated supporting article of the syndicated news feed are actualy credit for owners of origin centers. intended only to inform and update you about Sakari naukri , result , UPSC , Exam Jobs etc. for Provides real or authentic news. also Original content may not have been modified or edited by nixatube team members.

Leave a Reply