MOSL: ECOSCOPE-Demonetization hurt already-weak employment-Only 32,000 jobs generated in 3QFY17
​ECOSCOPE: Demonetization hurt already-weak employment; Only 32,000 jobs generated in 3QFY17 – less than half of 2QFY17
- Against a total addition of 77,000 jobs in 2QFY17, eight selected sectors that constitute ~81% of the total employment of units with 10 or more workers, added only 32,000 jobs in 3QFY17.
- In total, the eight sectors employed 20.52m workers in 1QFY17, which increased to 20.63m in 3QFY17 – implying a growth of only 0.27% in the past two quarters. Considering average real GDP growth of 7.2% during this period, employment elasticity seems to have worsened significantly.
- Due to demonetization and impending implementation of Goods & Services Tax (GST), the unorganized/informal sector, which accounts for over 90% of total employment in the economy, is expected to witness challenges. With such weak employment growth in the organized sector, we are concerned about how displaced workers from the unorganized/informal sector would be absorbed, let alone employment opportunities for the new workforce.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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