It's official: Unemployment rate at 45-year high, Q4 GDP slumps to 5-year low


New Delhi, May 31 (IANS): It is now official that the country has indeed been witnessing jobless growth.

Months after rejecting the claim by a leaked report that India's unemployment rate had touched a 45-year high, the government admitted the same on Friday with the latest data showing that joblessness had indeed touched 6.1 per cent in the 12-month period from July 2017 to June 2018.

The government had earlier brushed aside a leaked official report on the country's poor job scenario and maintained that the unemployment data was yet to be finalised.

The Centre had come under fire for witholding the key macro data, with the opposition parties alleging that it was a deliberate attempt to hide its non-performance.

Moreover, some members of the Statistical Commission had earlier resigned to protest against the government decision to withold the data.

The official release has come a day after Narendra Modi took oath as Prime Minister for the second time on Thursday in the backdrop of high public expectations on jobs and economic growth.

The official data showed 7.8 per cent of all employable urban youth as being jobless during the survey period, while the percentage for the rural areas stood 5.3 per cent.

The unemployment rate is defined as the percentage of persons unemployed among the total the labour force. Nearly 10 million youth join the country's workforce every year.

The data poses a huge challenge to the Modi government which has returned to power for the second term on the promise that it will set policies right and ensure faster economic growth and employment.

The manufacturing sector, which provides employment to a large number of workforce joining the country, has also been largely sluggish.

 

Quarter 4 GDP growth slumps five-year low to 5.8% from 7.7% 

The GDP growth rate of the country plunged to 5.8 per cent during the January-March quarter of the financial year 2018-19, from 7.7 per cent growth witnessed during the same quarter of the previous year, data from the Central Statistical Office showed.

For the fical year 2018-19, the country recorded a GDP growth of 6.8 per cent, the lowest growth rate in five years. In FY 2017-18 the country recorded at 7.2 per cent growth in GDP.

The slowdown can be largely attributed to lacklustre growth in agriculture and mining sectors, as per the data.

The agriculture, forestry and fishing sector showed a growth rate of 2.9 per cent in FY 2018-19, against previous year's growth rate of 5 per cent. The mining and quarrying sector rose by 1.3 per cent against previous year's growth rate of 5.1 per cent.

  

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Comment on this article

  • Rohan, Mangalore / Dubai

    Sat, Jun 01 2019

    Good. Well deserved for blindly electing the representatives.

    Now you may sell tea and pakodas this may help.

    DisAgree [1] Agree [5] Reply Report Abuse

  • Vincent Rodrigues, Katapadi/Bangaluru

    Sat, Jun 01 2019

    Quite dangerous and disaster situation if the present government do not make any headway to create employment to the deserving.

    DisAgree [1] Agree [5] Reply Report Abuse

  • Ravi, Mlore/USA

    Sat, Jun 01 2019

    The Modi Govt. changed the method for calculation of GDP during Modi 1.0. It also influenced RBI independence after forcing Raghuram Rajan out. Demonetization hurt the poor the most. GST was good policy but was poorly implemented. Corruption is rampant. Foreign E Commerce firms have been hindered with regulation
    India needs foreign direct investment . Indian businesses are not investing in India.
    Very little FDI is coming in because Investors do not believe the Govt Statistics .
    Walmart was barred from opening retail stores and then stymied in E Commerce attempt despite buying Flipcart. Amazon was impacted as well.
    President Trump will eventually turn his attention on India and demand changes or else Tariffs on Indian Exports. When Modi called him to say he had reduced import duty on Harley Davidson motorbike from 100 to 50 percent, Trump ridiculed him in the US media.

    DisAgree [4] Agree [4] Reply Report Abuse

  • Mohammed, Mangalore

    Sat, Jun 01 2019

    Who cares about Indian economy, who cares about GDP low, who cares about unemployment increased, people cares about only Modi to come power. That's called people of India now.

    DisAgree [2] Agree [34] Reply Report Abuse

  • Valerian Menezes, Kota

    Fri, May 31 2019

    This is the first lie coming out for 2.0 Modi govt. The economy of the country is dismally bad condition. Hope the new govt would correct the situation.

    DisAgree [2] Agree [15] Reply Report Abuse

  • Francis Lobo, MANGALORE

    Fri, May 31 2019

    The removal of GSP by Trump administration for India will once again increase as textile footwear , garment sector etc which employees manual labor will be effected more severely. The next quarter will be worst There is also a worldwide recession as indicated by the drop in sales of cars & consumer goods sector. Modi government or any other govt. Cannot do anything in this. Any fudging of data will not be worth. Only industry which Will be making more money will be defence sector. As threat perception between counties is eminent & India has to spend more money due to our rhetoric

    DisAgree [1] Agree [6] Reply Report Abuse

  • Kevin, Brahmavar

    Fri, May 31 2019

    Political parties need jobless youth. They are the flesh and blood of their survival
    . With these people they can spread chaos in the society which they thrive for their survival. This is achche din Modi was talking about, for them.. Indian's dont deserve good governance. All they need is temple,mosque,church.... Rest,leave it to god...

    DisAgree Agree [10] Reply Report Abuse

  • Manoj, Andher

    Fri, May 31 2019

    One more surgcal strike using cloud technology on job market will cerat million jobs soon .Soon we will see in social media this 45 year low because on Neharu and congress policy .Modi paid all the loans of 65 years during last five year and in next 100 days mitroo every indian will get job otherwise .........

    DisAgree [2] Agree [21] Reply Report Abuse

  • SmR, Karkala

    Fri, May 31 2019

    Modi 'single biggest destroyer of jobs', govt synonym for unemployment. PM Modi skipped jobs, achievements in his election campaign.

    Economic growth is at a 5-year low. Farm income growth is at a 14-year low. Fresh investments are at a 14-year low. Private investments are at a 7-year low. Industrial growth is at a low of 1.7% (down from 7.5%, a year ago). Household savings are at a 20-year low. FDI growth is at a 5-year low. Core sector growth is at a 2-year low,

    The Modi-made disaster of demonetization alone cost 1.5 crore jobs and plunged the GDP by 2% costing small and medium businesses as much as Rs 3 lakh crore. Coupled with a flawed GST, businesses perished and jobs destroyed.

    As per the CMIE report, India lost 1.1 crore jobs in 2018 alone and the loss in rural India was even bigger. An estimated 91 lakh jobs were lost in rural India while the loss in urban India was 18 lakh jobs. Over 88 lakh women lost their jobs last year, accounting for over 80% of the total job loss.

    Unprecedented unemployment in the country can be gauged from the fact that for 90,000 Railway jobs 2.8 crore youth, including those having postgraduate and doctorate degrees.

    Indian voters do not vote on the basis of development or policies. Indians Tend Not To Vote For Development.

    India has elected Modi 2.0 government. Will the massive employment will be given priority or given free lynching jobs or moral police will be much awaited.

    Welcome to the new unemployment of India under PM Modi. Is BJP going to blame 70 years or will talk about the future of the youth?
    Jai Hind

    DisAgree [4] Agree [20] Reply Report Abuse

  • David Pais, Mangalore

    Fri, May 31 2019

    all da more fascinating is knowingly da literates & literate fools blindly voted 2 chaiwala bjp 2 push india 2wards stone age

    DisAgree [3] Agree [30] Reply Report Abuse

  • Kumari, Karkala

    Fri, May 31 2019

    Modi modi modi

    DisAgree [12] Agree [3] Reply Report Abuse

  • HC SHETTY, Mangalore

    Fri, May 31 2019

    "There are lies, damned lies and statistics". One can use statistics to bolster weak arguments. The reality is our population 45 years ago was 56 crores. Now it is unofficially 135 Crores!. Moreover 45 years ago we had a different demographic age structure. Now around 50 % of population is less than 25 years of age in India. That means around 10 million new entrants to job market in each year. As population dynamics change during the years one cannot compare with past figures with absolute certainity.
    Having said that the government has to take constructive steps to create job opportunities to our burgeoning population.

    DisAgree [38] Agree [5] Reply Report Abuse

  • vijay, jokatte

    Fri, May 31 2019

    mr shetty....point is .since 5 yrs modi assued for jobs done nothing.....
    its natural population always go up year by year...
    its duty of ruling govt create jobs..not to say sell pakodas

    DisAgree [3] Agree [33] Reply Report Abuse

  • Jennifer, Mangalore

    Fri, May 31 2019

    If nation's population goes up, won't the working peoples' number too ? Won't the taxes collected too ? What is the govt doing with the finances ? Only giving 200% increment to its ministers ? Where are new industries ? Where are jobs for the newly graduated youth ?

    If the govt is not creating jobs, why get so many educated ? Why spend so much on education ? Aren't they happy as day-wage labours ? Or, Pakoda sellers, as the PM wishes them to be ? Are you ready to be one of them sine you have voted the govt to rule ? Hmmmm ???

    DisAgree [2] Agree [26] Reply Report Abuse

  • David Pais, Mangalore

    Fri, May 31 2019

    blame bjp leaders. dey wanted 10-12 children must 4 hindus.

    DisAgree [1] Agree [16] Reply Report Abuse

  • ad, mangaluru

    Fri, May 31 2019

    BJP kept this information under wraps before election. Now BJP voter can enjoy unemployment and and beg chai and pakoras from Modi to survive..

    DisAgree [3] Agree [28] Reply Report Abuse

  • Heri Fernandes, Mangalore/UK

    Fri, May 31 2019

    No worries.. this does not matter to majority Indians.. From the recent loksabha elections its obvious that for majority Indians what matters is religion, surgical strikes, missiles, ASAT and ofcourse the all powerful speeches of their beloved leader promising them stars where in fact they can't even afford basic necessities of life! Unfortunately this is what they will teach their children, which is even dangerous for the future of India.. So they have got what they wished for, ' Modi it was and Modi it is' so no scope for complaints... Sad state of a country thats aspiring to be a global power... For now let them enjoy the false dreams and fake aspirations!

    For now, lets chant 'Har Har Modi, Ghar Ghar Modi, Jai Ho Modi, Phir se Modi'

    DisAgree [2] Agree [30] Reply Report Abuse

  • Ahmed K. C., Mangalore

    Fri, May 31 2019

    Sab kuch gir raha hai
    Parantu
    BaJaPa khada hai.
    Aur Kya chahiye Bhakhtonko???

    DisAgree [3] Agree [37] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Fri, May 31 2019

    Only Ballot Paper can save India ...

    DisAgree [4] Agree [40] Reply Report Abuse

  • Mr Clean, Mangalore

    Fri, May 31 2019

    This is a true reaction of Demonetisation and GST. BJP is agreeing now. So, as per Modi's wish and promise should he not be burnt alive for this total disastrous failure????!!!!....

    DisAgree [4] Agree [40] Reply Report Abuse

  • VM, Mangalore

    Fri, May 31 2019

    "latest data showing that joblessness had indeed touched 6.1 per cent in the 12-month period from July 2017 to June 2018"
    This is irrelevant. BJP has already won the election for a second term.This shows that most people do not care about such trivial things.

    DisAgree [5] Agree [33] Reply Report Abuse

  • Jennifer, Mangalore

    Fri, May 31 2019

    It shows that you are employed, and you don't care about others

    So is your govt. - the leader sold (said to have though seller was his father and brother) tea, yet became the PM. Therefore every jobless Indian should sell Pakora so that he become a minister some day in his life.

    DisAgree [4] Agree [31] Reply Report Abuse

  • Mr Clean, Mangalore

    Fri, May 31 2019

    I am not at all surprised by you saying its a trivial issue and people don't care about it. BTW, did you admit your guilt that time or you were faking and misguiding people???? FYI, People have rightly cared about it and cast their votes correctly but EVMs have won BJP.

    DisAgree [4] Agree [27] Reply Report Abuse

  • David Pais, Mangalore

    Fri, May 31 2019

    shame on da cow govt. & shame on its blind bhaktas

    DisAgree [6] Agree [40] Reply Report Abuse

  • Jennifer, Mangalore

    Fri, May 31 2019

    All such information was kept under wrap with elections in mind.

    Now, things start coming out one-after-the-other.

    Sing Mo.. Mo... you will get salary at the end of the month.

    No need to even sell Pakodas.

    DisAgree [4] Agree [48] Reply Report Abuse

  • Joel, Mangalore

    Fri, May 31 2019

    Salary ???

    @ Jennifer - nothing to worry modi is there for bakths , he will take care of them and their future daily needs..

    I feel worst is yet to come

    DisAgree [4] Agree [46] Reply Report Abuse


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