Salaried jobs have been more impacted by the COVID-19 pandemic and consequent lockdowns, and will take time to get back on track, according to Mahesh Vyas, Managing Director of the Centre for Monitoring Indian Economy (CMIE).Around 18.9 million salaried individuals have lost their jobs – from which 5 million were lost in July 2020 alone. In contrast, CMIE data showed that informal sector jobs (non-salaried) have increased – for example, the agricultural sector is underemployed and had 15 million new jobs.“The lockdown has been a lot more prolonged than anyone imagined in the beginning. So the impact played out slowly — slow poison creeping up over the organised sector — and salaried people are losing their jobs, and they will find it a lot more difficult to get them back,” Vyas told the Business Standard.Close “The first quarter (Q1) of FY20-21 saw a loss of 17 million jobs; this has gone up to 19 million jobs right now, and can get worse,” Vyas said, adding that the farming sector is the only one that did show resilience. related news India needs more global sized banks to help country achieve $5 trillion economy: CEA Subramanian West Bengal COVID tally climbs to… Read full this story
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