Striking ILO India Employment Report 2024 on Modi decade, who’s working where & are incomes rising
ThePrint
26 min, 2 sec
The video provides a detailed analysis of employment trends in India post-COVID-19, focusing on underemployment, sector-wise employment shifts, wage changes, and varying state performances.
Summary
- An ILO report indicates a rise in self-employment and a decline in regular wages since 2012.
- A shift of labor back to agriculture post-pandemic has been observed, which is typically lower-paid.
- Real wages in regular salaried jobs have fallen by about 10% compared to 2012, while casual labor wages have risen by 27%.
- Labor force participation rates in India are below the global average, suggesting either a lack of opportunities or a disincentive to seek better employment.
- Delhi ranks highest in overall employment conditions among Indian states, with Himachal Pradesh and Uttarakhand following.
Chapter 1
The video starts with a series of quick life lessons, mentioning what 'legends' know and do, including mutual fund investments and their risks.
- 'Legends' know not to practice nunchucks in a crowded room or eat 'choli' before a road trip.
- They take their shirt off before ironing and don't take calls near a swimming pool.
- There is a distinction made between saving and investing, emphasizing that 'legends' invest in mutual funds.
- Mutual fund investments are subject to market risks, and it is advised to read scheme-related documents carefully.
Chapter 2
Discussion on the latest ILO report on India's employment situation, highlighting data scarcity and the report's significance.
- The ILO report on India's employment is considered significant, given the scarcity of reliable data.
- The report is a collaboration between the ILO and the Institute of Human Development.
- The report's data is seen as valuable in understanding India's economy and demographics.
- Government of India's control over data sources has made it difficult to find reliable data.
Chapter 3
The Chief Economic Advisor's views on the government's limitations in job creation and the impact of welfare policies on work incentives.
- The advisor acknowledges the government's limitations in creating jobs.
- He references Cho S. Ramaswamy's play on Muhammad bin Tughlaq to illustrate the state's limitations.
- The advisor questions whether welfare policies worldwide are reducing the incentive to work.
- He cites 'the law of unintended consequences,' suggesting that welfare may disincentivize people from seeking employment.
Chapter 4
Visual representation of India's employment scenario, including the rise in self-employment and changes in sector-wise employment post-pandemic.
- Graphic visualizations are used to convey data on self-employment and sector-wise employment changes in India.
- The share of self-employed persons has increased post-COVID-19.
- Regular employment percentages have decreased post-pandemic, while agricultural employment has risen.
- Underemployment is highlighted as a significant issue in India.
Chapter 5
An analysis of the primary (agriculture), secondary (industrial), and tertiary (services) sectors' contribution to employment and GDP.
- The primary sector's share in GDP has declined over the years, with the number of people employed in agriculture also decreasing.
- Secondary and tertiary sectors have seen growth in their GDP contributions, with the tertiary sector leading.
- Despite overall economic growth, primary sector employment has increased post-pandemic, suggesting a shift from other sectors to agriculture.
- The report highlights the need to transfer labor from agriculture to better-paying sectors for wage improvements.
Chapter 6
Examination of India's labor force participation rates and underemployment, indicating a prevalence of underemployed individuals.
- Labor force participation rates in India are below the global average.
- Youth labor force participation is particularly low, remaining below 50%.
- Underemployment is defined by those willing or available to work more hours than they currently do.
- The ILO report warns against using unemployment rates as the sole metric for employment health in India.
Chapter 7
A look at the state-wise employment conditions across India, revealing variations in performances with Delhi and Himachal Pradesh leading.
- Color-coded graphics show state-wise employment conditions, with green indicating better employment climates.
- Delhi ranks the highest, followed by Himachal Pradesh and Uttarakhand, with a focus on improving women's employment.
- States with lower rankings include Odisha, Bihar, and Kerala among others.
Chapter 8
Discussion on changes in wages across different employment categories and the government data sources used for the ILO report.
- Real wages for salaried individuals have fallen by about 10% since 2012, while casual labor wages have increased by 27%.
- The ILO report uses government data, including National Sample Survey rounds and Periodic Labor Force Surveys for its analysis.
- The video questions the factors contributing to decreased wages and the impact of welfare programs on employment.