Sluggish job growth undermines GDP rise
Over 50% firms either saw negative employment growth or unchanged growth in last fiscal
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