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Jobs Dip by 3.6 %, Wages Rise by 11.1 %, Reports Government Survey

Jan 7, 2015 11:58 IST

     

    In a recent survey conducted by Government regarding rise and fall of jobs in India, it clearly mentioned that the number of jobs in industries decreased by 3.6 per cent while wages increased by 11.1 percent in 2012-13.

    The annual survey of industries revealed that the total number of people engaged in different industries declined from 1.34 crore in the previous fiscal to 1.29 crore in 2012-13.

    In 2011-12, jobs had increased by 5.8 percent from 1.26 crore in the previous fiscal.

    According to the survey, total wages provided to factory workers rose by 11.1 percent in 2012-13 to  1.10 lakh crore from  99,855.79 crore in 2011-12. The total wage bill had jumped by 16.6 percent in 2011-12 from  85,645 crore in 2010-11.

    The gross capital formation, an indicator of investments, increased by 9.31 percent to  4.44 lakh crore in 2012-13 from 4.07 lakh crore in the previous fiscal. However, it had come down in 2011-12 by 8.72 percent from  4.45 lakh crore in the previous fiscal.

    Gross fixed capital formation, another measure to gauge level of fresh investment, increased by 3.62 per cent to  3.56 lakh crore in 2012-13, from  3.43 lakh crore in the previous fiscal. During 2011-12, had grown at 21.21 percent from Rs 2.83 lakh crore.

    The net value added or output, which does not include input and depreciation, grew at 2.8 percent to Rs 8.6 lakh crore in the year under review, from  8.36 lakh crore in the previous fiscal. However the net value had grown by 18.75 percent in 2011-12 from  7.04 lakh crore in 2010-11. Indian economy had grown at decade low rate of 4.5 percent in 2012-13. The economic growth in 2013-14 was 4.7 percent.

    Important points:

    1. Government survey shows the number of jobs in industries decreased by 3.6 per
    2. While  wages increased by 11.1 percent in 2012-13
    3. Indian economy had grown at decade low rate of 4.5 percent in 2012-13
    4. Economic growth in 2013-14 was 4.7 percent

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