Employment rate jumps 36% in past decade, seen at 64.33 crore: Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya
- IBEF
- January 3, 2025
Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya, stated on December 21, 2024, that employment in India has increased by 36% to 64.33 crore in 2023-24, compared to 47.15 crore in 2014-15, reflecting significant job creation during the National Democratic Alliance (NDA) period. He pointed out that employment under the United Progressive Alliance (UPA) grew by just 7% between 2004 and 2014. According to Reserve Bank of India (RBI) data, employed individuals rose from 44.23 crore in 2014 to 47.15 crore in 2023-24. Between 2004 and 2014, the UPA government added 2.9 crore jobs, while the government created 17.19 crore jobs between 2014 and 2024. In 2023-24 alone, around 4.6 crore new jobs were generated.
He also highlighted growth in key sectors. Employment in agriculture fell by 16% from 2004 to 2014 under UPA. However, it increased by 19% from 2014 to 2023 under the Prime Minister Mr. Narendra Modi’s government. The manufacturing sector saw a 6% rise in employment between 2004 and 2014 but a 15% increase from 2014 to 2023. In the services sector, employment grew by 25% from 2004 to 2014 and 36% between 2014 and 2023. He added that the unemployment rate (UR) dropped from 6% in 2017-18 to 3.2% in 2023-24, while the employment rate (WPR) rose from 46.8% to 58.2%. The Labour Force Participation Rate (LFPR) grew from 49.8% in 2017-18 to 60.1% in 2023-24. Furthermore, over 4.7 crore youth (aged 18-28) joined the Employees' Provident Fund Organisation (EPFO) between September 2017 and September 2024.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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