50 lakh jobs lost after Demonetisation: Report

50 lakh jobs lost after Demonetisation: Report

Agency News

A report said that around 50 Lakh people have lost their jobs since the demonetization exercise by the Narendra Modi government in November 2016.

The report on demonetization was conducted by the Azim Premji University's Centre for Sustainable Employment, News18 said. The report states that women are much worse affected than men because they have higher unemployment rates as well as lower labour force participation rates.

The study also pointed out that India’s unemployment reached its highest at 6 per cent in 2018, double of what it was in the decade between 2000 and 2010.

The 'State of Working India 2019' report on employment and labour states that unemployment is highest among the 20-24 years age-group.
While official numbers on unemployment from the Periodic Labour Force Survey of the National Sample Survey Organisation (NSSO) is not available from the Ministry of Statistics, the only other survey available to take stock of employment situation is that of the Centre for Monitoring the Indian Economy (CMIE). The University's study draws from this CMIE survey of about 1,60,000 households conducted every four months.