Wages Down, Joblessness Jumps
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NEW DELHI, Jan. 9 -- A double whammy hit Indian workers in 2022. The real wages of workers recorded a drastic fall, especially after the pandemic. At another end, the unemployment rate, except in the case of skilled personnel to some extent, has witnessed an alarming growth. While the disturbing report on the falling wages came from the International Labour Organisaion (ILO) towards the fag end of last year, the report on the rising joblessness was put out by the Centre for Monitoring Indian Economy (CMIE). To get a clear picture of this harsh scenario, it is important to take a look at the data given out by both the agencies. According to ILO, India's real wage growth in 2006 was 9.3 per cent, but it declined to -0.2 per cent in 2021. Ri...
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