Union Labour Minister Mansukh Mandaviya on Thursday said employment in the country has increased by 36% to 64.33 crore in 2023-24, up from 47.15 crore in 2014-15, reflecting an improvement in job creation during the NDA period.
Speaking to the media, the minister also stated that employment under the UPA grew by just about 7% between 2004 and 2014.
He noted that under the UPA government, between 2004 and 2014, only 2.9 crore additional jobs were created, whereas under the Modi government, between 2014 and 2024, 17.19 crore jobs were added.
In the last year (2023-24) alone, the Modi government has created around 4.6 crore jobs in the country,Mandaviya stated. The data assumes significance in the context of the ongoing pressure on the government to create more jobs in the country.
Regarding the agriculture sector, Mandaviya stated that employment declined by 16% between 2004 and 2014 under the UPA tenure, whereas it has grown by 19% between 2014 and 2023 under the Modi tenure.
Similarly, employment in the manufacturing sector grew by just 6% between 2004 and 2014 under the UPA tenure, while it increased by 15% between 2014 and 2023 under the Modi tenure.
He further informed that employment in the services sector grew by 25% between 2004 and 2014 under the UPA tenure, while it increased by 36% between 2014 and 2023 under the Modi tenure.
He also stated that the unemployment rate (UR) dropped from 6% in 2017-18 to 3.2% in 2023-24, while the employment rate (WPR) grew from 46.8% in 2017-18 to 58.2% in 2023-24.
Similarly, he informed that the Labour Force Participation Rate (LFPR) grew from 49.8% in 2017-18 to 60.1% in 2023-24.
Regarding the growth of youth joining the formal job market, the minister also informed that, in the last seven years (between September 2017 and September 2024), over 4.7 crore youth (aged 18-28 years) have joined the Employees' Provident Fund Organisation (EPFO).
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