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Managerial Economics - Employment And Unemployment In India

Introduction of Employment And Unemployment In India

   Posted On :  29.05.2018 11:04 pm

The principal objective of development planning is human development and the attainment of higher standard of living for the people.

Introduction of Employment And Unemployment In India

The principal objective of development planning is human development and the attainment of higher standard of living for the people. This requires a more equitable distribution of benefits of development and opportunities, better living environment and empowerment of the poor and marginalized. There is special need to empower women who can act as catalysts for change. In making the development process inclusive, the challenge is to formulate policies and programmes to bridge regional, social and economic disparities in as effective and sustainable a manner as possible.
 
The projected increase in total labour force during 11th Plan was 45 million. As against this, 58 million employment opportunities are targeted to be created during the Eleventh Plan. This is expected to reduce unemployment rate to below 5 per cent. The Eleventh Plan emphasizes that the growth in various sectors of the economy can be achieved only if supported by appropriate skill development programmes at various levels. The Eleventh Plan document has spelt out certain deficiencies in the skill development scenario in the country as it exists presently. The thrust of the plan therefore will be on creating a pool of skilled manpower in appropriate number with adequate skills, in line with the requirements of the ultimate users of manpower such as the industry, trade and service sector. Such an effort is necessary to support the employment expansion through inclusive growth including in particular a shift of surplus labour from agriculture to non-agriculture.
 
The basic weakness in our employment performance is the failure of the Indian economy to create a sufficient volume of additional high quality employment to absorb the new entrants into the labour force while also facilitating the absorption of surplus labour that currently exists in the agricultural sector, into higher wage, non-agricultural employment. A successful transition to inclusive growth requires migration of such surplus workers to other areas for productive and gainful employment in the organized or unorganized sector. Women agricultural workers in families where the male head has migrated, also require special attention ,given the need for credit and other inputs if they are self-employed in agriculture or for wage employment if they do not have land.
 
As a manager it is essential to understand the concepts related to employment and unemployment. Let us see the basic definitions.
 

Employment:

 
 
When persons are holding a job and they perform for any paid work. Also if workers hold jobs because of illness, strike or vacation, they are considered as employed.
 

Full Employment:

 
 
When 94-95% of them are employed or highest sustainable level of employment over the long run is called as full employment.
 

Under Employment:

 
Less than full employment is called as under employment.

Unemployment:

 
When people are not working and are actively looking for work or waiting to return to work, such a situation may be called as unemployment.

 

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