India’s job market rebounds with 8.8 million jobs added in April
This figure was provided by the Centre for Monitoring Indian Economy (CMIE), which said the jobs that became available were inadequate compared to the demand.
India’s labour force increased by 8.8 million to 437.2 million in April, one of the largest monthly increases since the beginning of the pandemic, CMIE Managing Director and CEO Mahesh Vyas said.
The country’s labour market was at 428.4 million in March, he added. In 2021-22, the average monthly increase in the country’s labour force was 0.2 million, as per the data.
The report said that an 8.8 million increase in labour force participation was only possible if some working-age people who were out of jobs joined the working population in April.
This is because the working-age population cannot grow by more than two million per month and any rise beyond that implies that those who were out of jobs returned to the workforce, the report said.
The report also noted that the 8.8 million increase in April comes after a 12 million fall during the preceding three months.
The increase in employment in April was in industry and in services. Industry added 5.5 million jobs and services added another 6.7 million jobs.
Within industry, 3 million jobs were generated in manufacturing, while construction added nearly 4 million opportunities. Meanwhile, employment in the agricultural sector fell by 5.2 million, said CMIE, according to India Today.