Sluggish job growth undermines GDP rise

Economic growth rate came close to 7% last fiscal, but employment rate failed to pick up momentum with several firms seeing negative employment growth, said a Care report

3.8% – Employment growth rate moderating in FY18

6.7% – Economic growth in the previous fiscal

Over 50% firms either saw negative employment growth or unchanged growth in last fiscal

8 – sectors witnessed higher employment growth

Rs 500 cr – and above - Net sales of companies witnessed positive employment growth

Below Rs 500 cr net sales of firms saw a contraction in job growth

Rs 10,000 cr – Net sales of companies also saw higher job growth