Receive Daily Updates
A closer look at the economy at large throws up numbers which suggest that while there may be a slowdown in employment generation, there is no job crisis at the moment.
Lets see what the statistics say-
-In 2011, there were 273 million agriculture workers. The total size of the workforce was about 481 million. Essentially, about 56 per cent of our workforce is in agriculture. While this is coming down, it is likely that some 2-3 million new workers enter the agriculture workforce every year (extrapolated from previous growth numbers).
-Medium and small scale enterprises (MSMEs) alone employ 81 million people (data is old). In 2014-15 alone, the Prime Minister’s Employment Generation Programme (PMEGP) alone is said to have generated 3,57,000 new jobs.
-The number that mainstream media quotes from is the 8 sectors that together employ only 20 million people. These are from units which have more than 10 employees and cover the following sectors – manufacturing, construction, trade, transport, restaurant, IT/BPO, education and healthcare. The number excludes household workers, financial services, mining and of course MSMEs. In sum the headline survey quoted by everybody covers only 4 per cent of India’s workforce.
-If one subtracts agriculture workers and large companies (those covered in the survey), there are about 188 milion workers. Assuming 1.5 per cent growth of employment in these segments (larger companies are at 1 per cent), it adds upto about 3 million workers.
-When you add up all the above, you arrive at a net employment figure of 6 million a year. Add retirement replacements and you can add 2.5 million more workers. That comes to about 8.5 million. That leaves you with 4.5 million unemployed every year or about 18 per cent given that only 13 million are looking for a job every year (low workforce participation in India).
-Now, over the last 10 years, average household wealth has gone up substantially. For example in 2010, the total rural deposits was about Rs 4,22,000 crores. In 6 years this has tripled to Rs 11,46,091 crores. The number of households meanwhile may have gone up by only 15 per cent. This translates to an average household deposit of about Rs 24,000 going upto to Rs 57,000 in just 6 years (back of paper calculations). The cost of land and other wealth too has gone up quite a bit. This increase in cash wealth in rural India alone suggests that households have much higher capabilities in supporting unemployed youth than before.
-In 2017-18, India will spend about Rs 1,50,000 crores on subsidized food. This amount was about Rs 60000 crores in 2010. This translates to Rs 25,000 per poor household per annum. So, if you add increased wealth at one level and access to low cost food at another level, households are much better protected than ever before.
Some of the numbers above are not perfect but it helps to make the larger argument that the headline statistics cover only 4 per cent of workers, the rest 96 per cent of the employers are likely absorbing large number of employees. Also notable is the fact that 2-3 million people retire every year and their replacements are not counted anywhere. Add more wealth and access to inexpensive food and in sum total you have a problem that is less pronounced than before.
It is not to suggest that there is no slowdown in employment, this is only to say why there is no song and dance about it amongst general public at this moment.
One issue in particular is thorny though, the large number of engineering graduates who are likely to be unemployed over the next two years. Meanwhile, the government can only hope that the economic recovery is complete and many more jobs are created to hire this bulging group of unemployed Indians. Nevertheless the trouble is not far away.
Recent Posts
- Anonymity: Darknet allows users to communicate and transact with each other anonymously. Users can maintain their privacy and avoid being tracked by law enforcement agencies or other entities.
- Access to Information: The darknet provides access to information and resources that may be otherwise unavailable or censored on the regular internet. This can include political or sensitive information that is not allowed to be disseminated through other channels.
- Freedom of Speech: The darknet can be a platform for free speech, as users are able to express their opinions and ideas without fear of censorship or retribution.
- Secure Communication: Darknet sites are encrypted, which means that communication between users is secure and cannot be intercepted by third parties.
- Illegal Activities: Many darknet sites are associated with illegal activities, such as drug trafficking, weapon sales, and hacking services. Such activities can attract criminals and expose users to serious legal risks.
- Scams: The darknet is a hotbed for scams, with many fake vendors and websites that aim to steal users’ personal information and cryptocurrency. The lack of regulation and oversight on the darknet means that users must be cautious when conducting transactions.
- Security Risks: The use of the darknet can expose users to malware and other security risks, as many sites are not properly secured or monitored. Users may also be vulnerable to hacking or phishing attacks.
- Stigma: The association of the darknet with illegal activities has created a stigma that may deter some users from using it for legitimate purposes.
- Virtual assistants: Siri, Alexa, and Google Assistant are examples of virtual assistants that use natural language processing to understand and respond to users’ queries.
- Recommendation systems: Companies like Netflix and Amazon use AI to recommend movies and products to their users based on their browsing and purchase history.
- Efficiency: AI systems can work continuously without getting tired or making errors, which can save time and resources.
- Personalization: AI can help provide personalized recommendations and experiences for users.
- Automation: AI can automate repetitive and tedious tasks, freeing up time for humans to focus on more complex tasks.
- Job loss: AI has the potential to automate jobs previously performed by humans, leading to job loss and economic disruption.
- Bias: AI systems can be biased due to the data they are trained on, leading to unfair or discriminatory outcomes.
- Safety and privacy concerns: AI systems can pose safety risks if they malfunction or are used maliciously, and can also raise privacy concerns if they collect and use personal data without consent.
Darknet
Definition:
Darknet, also known as dark web or darknet market, refers to the part of the internet that is not indexed or accessible through traditional search engines. It is a network of private and encrypted websites that cannot be accessed through regular web browsers and requires special software and configuration to access.
The darknet is often associated with illegal activities such as drug trafficking, weapon sales, and hacking services, although not all sites on the darknet are illegal.
Examples:
Examples of darknet markets include Silk Road, AlphaBay, and Dream Market, which were all shut down by law enforcement agencies in recent years.
These marketplaces operate similarly to e-commerce websites, with vendors selling various illegal goods and services, such as drugs, counterfeit documents, and hacking tools, and buyers paying with cryptocurrency for their purchases.
Pros :
Cons:
Artificial Intelligence
Definition:
AI, or artificial intelligence, refers to the development of computer systems that can perform tasks that would normally require human intelligence, such as recognizing speech, making decisions, and understanding natural language.
Examples:
Pros :
Cons: