Interestingly, as we mourn over the declining job markets and dwindling employment due to a sluggish economy, the other side of the picture says a 15-20% hike in the average income.
The statistics startles as they report a shocking dip of 2.4 people that were recruited by the enterprises in 2005. A decent proportion of these employers constituted the trade sector (retail, wholesale, or repair of motor vehicles).
Not only this, the manufacturing sector which accounts for 20% of the entire enterprise sector, there also the average employment rate is a meager three. The decline is attributed to the increased competition from entrepreneurs venturing into this sector. These include weavers; potters etc.
According to the survey reports of the employment survey, 2012, a mere 18% of Indian workers have job security, regular wages and other work related benefits. The section availing these benefits includes housemaids, cooks and similar employees. Nevertheless, the above mentioned section is deployed of basic economic buffers viz, employment contract or a provident fund or pensions.
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