Economy

Post demonetisation, nearly 50 lakh people, mostly youth lost their jobs, reveals study

A study by the Azim Premji University has revealed that nearly 50 lakh people in India lost their jobs between 2016-2018. The report highlighted that the “beginning of the decline” coincided with demonetisation, although “no direct causal relationship could be established” between the trends.

The report titled State of Working India was based on the CMIE-CPDX data that highlighted India’s unemployed were mostly the youth.

“In general, women are much worse affected than men. They have higher unemployment rates, as well as lower labour force participation rates,” it added.

The report revealed that unemployment, in general, has risen steadily post 2011. Both the Periodic Labour Force Survey 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.”

“Among urban women, graduates are 10 per cent of the working age population but 34 per cent of the unemployed. The age group 20-24 years is hugely over-represented among the unemployed.

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