Added on : 2019-04-17 14:19:07
Fifty lakh people lost their jobs in the past two years beginning November 2016, when Prime Minister Narendra Modi announced an overnight ban on high-value currency, according to a new report. The timing of the start of the decline in jobs coincides with demonetisation but no "causal link" can be established based on the available data, says the "State of Working India 2019", released Tuesday by the Centre for Sustainable Employment, Azim Premji University, Bengaluru.
The report said unemployment is prevalent among the higher educated and those in the age group of 20 and 24. This age group accounts for 13.5% of the working population of urban men, but 60% of the unemployed.
A government report leaked earlier this year had said the country's unemployment rate rose to a 45-year high in 2017-18.