Today the most common question among youth and working professionals is about unemployment. This question is very simple but the answer is so anfractuous. Almost everyone is worrying about the impact of covid19 on the Indian Labour Market.
Pre and Post Pandemic Situation of Covid19 Period
The impact of the coronavirus (covid19) pandemic is felt by every day and every year. But in immediate impact of the second wave in India is especially glaring. When it comes to employment, the economy was always showing signs of recovering from unpredictable pandemics, the first wave.
A ferocious wave for which we were completely unprepare. It had led to India’s job market planning in April after showing some positive trends from January to March 2021.
Impact of covid-19 on Indian Labour Market
Over 2 crores jobs were lost in April as well as May due to covid19 wave substantially and drastically.A student by the centre for monitoring the Indian economy says.Meanwhile 97% of household incomes declined, since the beginning of the pandemic last year.
A survey was conducted in April labour participation rate for the percentage of working-age population. That is in the market has come down to 40% from the pre-pandemic level of 42.5% and employment in rural areas has spiraled.
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And then to 14.3 4% in the week ending May 16 from 7.29 % in the ending May 9. So, it absolutely means that it has doubled within a week or days. Similarly, the urban unemployment rate has jumped to 14.71% in the lockdown period. 3% more than a week ago while the national employment rate soared to 14.45 from 8.67 percent underlying and acute job crisis admire the second wave.
Conclusion on Impact of covid-19 on Indian Labour Market
So these are statistics they are numbers in their percentage. It can be lost in a lot of people it can go away a lot of people said. But what does this actually mean and also what does this mean for families for their savings will, those who lost their jobs in the second wave? If they are in their 40s or 50s, will they ever get another job again. What does it mean for those who graduated this year. And those who went on to the market this year.
Some people who used to do desk jobs now even decided to do manual labour for daily wage labour. Many people raised their voices on Twitter, but what about those who don’t have such digital reach.
Industries like medical, e-learning, e- grocery, cyber security, and data privacy increased demand but still, the unemployment rate is high.
Mayank Kumar, co-founder and MD upgrade said sectors like construction, manufacturing, tourism. Also wholesale, retail trade has taken a hit. But on the other hand, there are industries and sectors like medical, data privacy huge demand embodied. Also E-Learning, cyber security, and e grocery, etc, have seen an increase in demand coming in even during the pandemic periods. We saw people who are keep killing in their field. They are skilled enough in their right area having large opportunities available for them.
Just in the last quarter upgrade placed about on average of around 10,000. The impact of covid19 is unequal in the labour market because in real estate construction. Manufacturing in Indian, tourism there are very large losses and hit.
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