Business

Record Recruitment: Bumper appointments in the month of April, such a large number of people got employment

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JOB

Record Recruitment: April 2022 saw the fastest expansion in the job market since the start of the pandemic. According to data from the Center for Monitoring Indian Economy (CMIE), 8.8 million people joined the country’s labor force in April. However, the available jobs are not sufficient as compared to the demand. CMIE’s Managing Director and Chief Executive Officer (CEO) Mahesh Vyas said that India’s workforce grew by 88 lakh to 43.72 crore in April. This is the highest figure since the start of the pandemic.

Average monthly increase in labor force was two lakh

The country’s labor market stood at 42.84 crores at the end of March. According to the data, the average monthly growth in the country’s labor force in 2021-22 was two lakhs. The report says that the figure of 8.8 million people joining the workforce can be achieved only if some of the unemployed people of working age are able to find some work again. The report said that the average growth of people of working age in a month cannot exceed two lakhs. This means that even those people who had no work yet returned to the job market in April.

There was a decline in the last three months

It had declined by 1.2 crore in the last three months before the labor force increased by 88 lakh in April. Vyas said that the labor market keeps on changing according to the demand. Employment growth in April was mainly in the industry and services sectors. While 55 lakh employment opportunities were created in the industry sector, 67 lakh jobs were added in the service sector. During this period, employment in the agriculture sector decreased by 52 lakh.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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