India faces deepening crisis on job front: CPI-M

New Delhi, Oct 27 (IANS) Saying India is facing a deepening crisis on the employment front, the CPI-M has said THAT the failure to create jobs “is the single biggest failure of the Modi government”.

An editorial in “People’s Democracy”, the party mouthpiece, quoted a new Employment-Unemployment Survey by the Labour Bureau as saying that unemployment in India was at a five year high of 5 percent of the workforce who are 15 years and above.

“Over a third of the people at work are employed for less than a year. Based on the Census 2011 figures, 5 percent of those above 15 years would work out to 2.3 crore persons; further, 35 percent underemployed would mean nearly 16 crore persons,” it said.

The editorial added that the latest survey by another Labour Bureau survey of employment in eight employment intensive sectors – textiles, leather, metals, autos, gems and jewellery, transport, information technology and handloom and power looms – covering the July-September 2015 quarter showed that only 1,34,000 jobs were created.

This, it said, was much lower than the three lakh jobs created every quarter between 2009 to 2011.

“The inflated GDP growth rate claimed by the Modi government is only leading to jobless growth,” the editorial said.

“This is evident from the fact that between 2012-13 and 2015-16, for every one percent increase in GDP, jobs grew only by 0.20 percent.

“The failure to create jobs is the single biggest failure of the Modi government so far,” it said.