2. CURRENT EMPLOYMENT SITUATION
ď¨ India's official unemployment rate last year was 3.8%.
ď¨ The proportion of poor amongst those employed is very high.
ď¨ Only 8% of total employment is in the organized sector.
ď¨ Total employment across sector is just 60% (organized sector)
ď¨ There is a steep decline in the female employment workforce of
about 30%
ď¨ About 40 per cent of the self-employed in rural areas felt that
their income of less than Rs 1,500 per month
3. SHARE OF SECTORS IN EMPLOYMENT-
TREND
SECTORS 1999-2000 2004-05 2011-12
PRIMARY 59.84 58.44 53.2
SECONDARY 17.42 18.18 21.50
TERTIARY 22.73 23.38 25.30
â˘Gradual decline in the Primary Sector
â˘Steady increase in the manufacturing sector namely
manufacturing & construction.
â˘Significant increase in the Services sector
4. â˘Healthcare, Hospitality and IT/ITeS will create more than 7.31lacs new
jobs in the country out 1.6 million new jobs estimated to be created in
the organized sector
â˘Healthcare -2.73lakh, hospitality over 2.30lakh and IT/ITeS are 2.27lakh
EMPLOYMENT TRENDS IN VARIOUS INDUSTRIES
5. HEALTHCARE SECTOR
ď¨ Global healthcare and wellness is a Rs.2295000crore industry,
2nd largest after agro-industry.
ď¨ During1990s, Indian healthcare grew at a CAGR of 16%.
ď¨ By 2013, Indiaâs healthcare sector is projected to grow to nearly
Rs.204000crore that translates to roughly 7% of GDP.
ď¨ The Indian economy is predicted to expand by at least 5%
annually for the next 45 years with healthcare having the
maximum share.
ď¨ HSSC( has committed to skill 4.8 million
people over the next 10 years in the
healthcare. Healthcare Sector Skill Council
6. IT/IT-ES
â˘The IT & ITes sector includes
IT services, engineering design
and R&D services, ITES or BPO
and hardware.
â˘IT Sector accounts for 12% of
the total workforce making it
the largest employer in the
organized sector.
â˘The industry is expected to grow by 19 per cent during FY 2012-
13.
â˘Employee base in the rural areas is expected to increase by over
10 times by 2013-14, compared to 5000 in 2009-10.
7. REAL ESTATE/CONSTRUCTION
ď¨ Next to Agriculture, Real Estate is the second largest
employer in the economy.
ď¨ the Real Estate sector contributes around 5 % to the nationâs
GDP.
ď¨ Employs 17% of total workforce.
ď¨ Despite of the global slowdown, manufacturing, have steady
domestic demand.
ď¨ By 2016 the size of the Indian automobile industry is
expected to grow by 13%, to reach US$20-159 billion
8. SELF EMPLOYED: ENTREPRENEURS
ď¨ One in every ten Indians is engaged in some entrepreneurial activity
ď¨ India ranks among the world's worst countries at encouraging
entrepreneurs. For ease of starting a business, India is ranked 166th
out of 183 countries.
ď¨ REASONS
⢠Reams of red tape
⢠poor infrastructure
⢠inadequate financial resources.
⢠Then there is the question of corruption and bribery,
⢠Indians are averse to risk taking and would rather settle for secure
salary paying jobs.
9. OTHER PROMISING SECTORS:
ď¨ The education sector will add more than one lakh jobs.
ď¨ The communication segment will generate around 93,300 jobs and
grow at a rate of 3.5%,
ď¨ The FMCG sector in India is at present, the 4th largest. the consumer
retail sector will add over 54,000 jobs this year.
ď¨ Aviation will give direct and indirect employment to 1.7 million
people.
ď¨ The Media & Entertainment Industry in India is expected to reach Rs
1,457 billion by 2016. The industry achieved a growth of 12% in 2011
ď¨ Real estate sector's contribution of 1,44,700 jobs translates into a
growth rate of 16.8%
10. PROBLEMS IN EMPLOYMENT
ď¨ Corporate need employable graduates. only 25 percent of graduates
passing out from engineering colleges were directly employable every year.
ď¨ Up to 15 per cent of the 5,00,000 jobs in investment banking could
disappear in the next five years as the euro zone crisis and stiffer regulation
hammers revenue, profitability and risk-taking,
ď¨ As a result of the Euro Zone crisis, there would be cautious hiring in the
banking-related IT hiring and retail sector.
ď¨ Senior BJP leader Uma Bharti on Saturday held that FDI in multi-brand
would render crores unemployed once FDI is allowed. 56 % of Indians feel
that the FDI in retail would throw the kirana stores out of business.
ď¨ The employment potential emanating from faster growth manufacturing
and services could not be fully exploited due to lack of policy support.
11. SCOPE FOR FURTHUR STUDIES: FDI
ď¨ FDI in retail can create 3 million jobs in three years
including both direct and indirect jobs.
- In 10 years time 10 million jobs would be created
(4 million direct jobs and around 5-6 million indirectjobs).
- One job would be created for every 250 square feet area
in retail.
-The retail industry is estimated to grow at 20% per
annum.
ď¨ FDI in insurance sector from 26% to 49%, without having
any impact on the public insurance companies is going to
make way for employment.
ď¨ Â¨FDI in aviation sector will help in generating
employment in front hand and back hand jobs.