According to the Centre for Monitoring Indian Economy (CMIE), 88 lakh people joined the workforce in April, marking one of the highest labor market expansions since the epidemic.
However, the quantity of positions available was insufficient in comparison to demand, according to the survey.
India’s labor force climbed by 8.8 million to 437.2 million in April, one of the greatest monthly rises since the pandemic began. According to CMIE Managing Director and CEO Mahesh Vyas.
According to the research, an increase of 80 lakh workers could only be achieved if those working-age persons who were unemployed in April joined. Because the working-age population cannot increase by more than two lakh per month, this is the case.
According to the data, the quick increase in employment indicates that many who were unemployed returned to work.
It’s worth noting that the 88 lakh gain in April comes. After a 12-lakh drop in the previous three months, according to the study.
In April, employment increased in the industries and services sectors. According to the report, the industry added 55 lakh jobs, while services added another 67 lakh.
Manufacturing added 30 lakh jobs to the industry, while construction added roughly 40 million opportunities.
According to CMIE data, employment in the agriculture industry declined by 52 lakh.