'58 mn job opportunities expected in 2007-12'

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Posted: Thursday, Jul 02, 2009 at 1251 hrs IST
Updated: Thursday, Jul 02, 2009 at 1251 hrs IST

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New Delhi: Nearly 58 million jobs are expected to be created in the five years from 2007 to 2012 with the non-agriculture sector boosting employment during that period, the Economic Survey tabled in Parliament said on Thursday.

In the Eleventh Five-Year Plan period (2007-12), employment opportunities would surpass the projection of about 45 million, in turn helping to bring down unemployment in the country to below five per cent, according to the Pre-Budget Economic Survey tabled in Parliament.

"The projected increase in total labour force during the Eleventh Five Year Plan is estimated at 45 million. It is also projected that 58 million employment opportunities would be created in the Eleventh Five Year Plan," the survey said.

The report pointed out that this would be greater than the anticipated increase in labour force, leading to a "reduction in the unemployment rate to below five per cent" by 2012.

Rather than the agriculture sector, others like food processing, gems and jewellery, handloom, tourism and construction are expected to contribute in increasing employment in the 2007-12 period.

"It is expected that agriculture sector may not contribute towards any increase in employment during the Eleventh Five Year Plan," the survey noted.

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» A bigger contraction in the offing ?

Posted by CK Raju, Thrissur on 2009-07-02 14:28:58.696048+05:30
Are the people who surveyed and came to this conclusions - from heaven - Gods own people - to have so much of prediction-capability ? We haven't seen a flood of new appointments whose job is to predict in the recent past. This obviously means that these people were here before - doing the same kind of research and analysis. One should appreciate their immense capabilities to predict the future with such an accuracy - 58 million in 5 years. But somewhere a doubt still lingers - if these people were there around earlier too, why couldn't they predict this contraction of the global market and its stabilising effect by extending the ripple to every nook and corner of the world. The job-market explosion of the current world has met with a terrific agonising contraction which hasn't yet stabilised. Will the new prediction - if it were to come true - mean that the world should now embrace for a bigger contraction soon ?

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