Growth of 1.6 percent in employment during the year 2015-16
Posted on: 27/Dec/2016 12:51:51 PM
According to the latest findings by ratings agency CARE Ratings there was a growth of 1.6 percent in employment during the year 2015-16. There was a growth when compared to last year.
The study which analyses trends in employment in the corporate sector based on data from annual reports notes that while services sector and consumer goods segments witnessed good growth in employment. Infra industries and capital goods were low performers.
Looking ahead, it forecasts that infra promises a bright outlook as far as jobs go if government expenditure materialises though demonetization may delay this recovery somewhat.
The study looked at a sample of 4,016 companies and finds that aggregate employment increased from 56.3 lakhs in 2015 to 57.2 lakhs in 2016 – a growth of 1.6 per cent.
2,112 companies accounted for 86 per cent of total sale and 728 companies, accounted for 67 per cent of total sales. The current year was the best year with around 108,000 jobs being created as against 84,000 in the year 2013 and 46,000 in the year 2014.
2016 has been the most productive year in terms of hiring employees. Only six companies saw an increase of more than 10,000 employees while 20 had over 3,000.
