Employment rate jumps 36% to 64.33 cr in Modi tenure: Mandaviya
New Delhi, Jan 2 (PTI) Union labour minister Dr Mansukh Mandaviya on Thursday said employment in the country has increased by 36 per cent to 64.33 crore in 2023-24 from 47.15 crore in 2014-15, which shows improvement in job creation during NDA period.
Talking to media persons, the minister also stated that employment under UPA grew by just about 7 per cent between 2004 to 2014.
According to the RBI data quoted by the minister, employment increased from 44.23 crore in 2014 to 47.15 crore in 2023-24.
He noted that under the UPA government between 2004 to 2014 just 2.9 crore additional jobs were created whereas under the Modi government between 2014-24, 17.19 crore jobs were added.
In the last one year (2023-24) alone, the Modi government has created around 4.6 crore jobs in the country, the minister stated.
The data assumes significance in the backdrop of pressure on the government for job creation in the country.
About the agriculture sector, the minister stated that employment declined by 16 per cent between 2004 to 2014 under UPA tenure whereas it has grown by 19 per cent between 2014 -2023 under Modi tenure.
Similarly, employment in the manufacturing sector grew by just 6 per cent between 2004 to 2014 under UPA tenure while it increased by 15 per cent between 2014-2023 under Modi tenure.
He further informed that employment in the services sector grew by 25 per cent between 2004 to 2014 under UPA tenure while it increased by 36 per cent between 2014 -2023 under Modi tenure.
He also stated that the unemployment Rate (UR) dropped from 6 per cent in 2017-18 to 3.2 per cent in 2023-24 while the employment rate (WPR) grew from 46.8 per cent in 2017-18 to 58.2 per cent in 2023-24.
Similarly, he informed that the Labour Force Participation Rate (LFPR) grew from 49.8 per cent in 2017-18 to 60.1 per cent in 2023-24.
About the growth in youth joining the formal job market, the minister also informed that in the last seven years (between Sept 2017- Sept 2024) over 4.7 crore youth (Age 18-28 years) have joined Employees' Provident Fund Organisation (EPFO) fold. PTI
