High growth, few jobs

Tuesday 30 November 2010

Unemployment has grown despite high GDP growth in developing economies, says the latest UN report

imageCause for worry for India

  • Share of total employment in agriculture decreased from 63.3 per cent to 55.7 per cent between 1995 and 2008
     
  • Share of employment in industry increased marginally from 11.2 per cent to 12.8 per cent between 1995 and 2008
     
  • Share of employment in the services sector increased marginally from 21.3 per cent to 25 per cent
     
  • Real wages in this period grew marginally from -1.8 per cent to 0.7 per cent

imageFrom the report:

“Developing countries not only need to create enough employment in quantitative terms, they also need to improve the quality of jobs. A major characteristic of the labour is large number of low-productivity jobs and relatively few modern, high-productivity jobs.”

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