As a result, the number of unemployed youth rose from 9 million to 25 million in that period (Chart 2). Besides, nearly 100 million youngsters today are neither in the labour force, nor are they pursuing education, the authors noted.
Charts 3A and 3B show that the inclination to keep a firm “unorganised”, meaning with less than 10 workers, has risen. At the same time, the propensity to “formalise” the workforce — provide social security
— is rising very slowly. Charts 4 and 5 show that both the government-owned and private firms prefer more workers without any work contract. Permanent workers in private firms actually fell in 2017-18, compared to six years ago.
While formalisation in private firms is rising, the pace is slow.
Public firms, however, are increasingly denying social security
to workers, show Charts 6A and 6B.
StatsGuru is a weekly feature. Every Monday, Business Standard guides you through the numbers you need to know to make sense of the headlines; Compiled by BS Research Bureau