India creating more jobs than any other Emerging Market (including China)

Last updated on: June 20, 2007 at 6:17 pm by Desh Kapoor

India creating more jobs than any other Emerging Market (including China) 2007-06-20T18:17:25-05:00 Desh Kapoor

LOGO Patheos Explore the world's faith through different perspectives on religion and spirituality! Patheos has the views of the prevalent religions and spiritualities of the world.

Rather surprising news but still interesting… India is creating FAR more jobs than any amongst the BRIC (Brazil, Russia, India, and China)!

A study conducted by the Organisation for Economic Cooperation and Development (OECD), a club of rich countries, has brought out the pleasant fact that India has been generating more jobs than any other BRIC – Brazil, Russia, India, China – country.

OECD’s Economic Outlook 2007, released on Tuesday, has revealed that India generated 11.3 million net new jobs annually between 2000 and 2005, which is over 60% more than the 7 million new jobs created in China every year.

The performance looks even more impressive when contrasted with another emerging giant, Brazil. The South American biggie clocked 2.7 million new jobs created annually over the five-year period, while Russia saw some 700,000 new jobs added every year.

India, in fact, generated half the jobs in BRIC nations: a performance which must be way better than any of the OECD countries growing at a much slower pace.

At 22 million new jobs every year in BRIC countries – which make for over 45% of the global labour supply and account for a quarter of the world’s GDP – faster economic growth meant that employment gains were more than five times faster that the 3.7 million new jobs created in the 30 developed countries that are members of OECD.

But the smart figures can hardly mask some of the underlying worries: the figures underline once again the continued problem of low employment elasticity – potential to create fewer jobs with every 1% increase in GDP – which has remained constant at 0.3%.

In other words, a stark reminder of the need to grow faster in order to create more jobs. Again, while the four economies have made good gains during the five years, the report pointed out that a large section remained unemployed particularly in rural areas.

It estimated that there were 130 million surplus workers in rural India. Besides, finding jobs for women and youth in India still remained a problem.

There was some more bad news packed in, with the report saying that at 50.5% the employment to population ratio in India was the poorest, compared with at least 66% in the other BRIC countries.

Though India can draw some solace from the fact that the unemployment rate was the lowest at 6% in 2005, issues related to under-employment and the veracity of data spoil the show. Over 94% of the work force in India was employed in the informal sector, which was much higher than the other three BRIC countries.

Powered by Qumana

Careers

Economics

India

Previous Post

June 20, 2007

China paves a road to Everest despite protests

Next Post

June 20, 2007 Is India's IT & BPO growth slowing down?

Browse Our Archives

Select a Category Aarti Achievement and Leadership AfPak Africa Annual and Year-end Asia Audio Australia Behavioural Sciences Bhagwad Gita Bhagwad Gita Blogging Blogs Business Business Intelligence Business Strategy Cannes Careers Chanakya China Conservation Corruption Creative Daily Links Desh Poems Development & Welfare Devotional Audio Devotional Songs Drama Earth Economics Education Entertainment Environment Europe Everyday Quotes Featured Articles Featured Songs Finance Flickr Pictures Food Geo-Political Global Warming Globalization Health & Medicine Hinduism Historic History Humour India Indian Culture Indian music Indian Weddings Israel Issues Legal Link Love Minorities Misc Motivation and Personal Development Movie Lists Movie Reviews Movies Mumbai terror attacks Natural Disasters Nature News Outsourcing Pakistan Parenting Personal Philosophy Poetry Politics Poverty Quotes Recipe Regular Blog Post Relationships Religion Religious/Spiritual Audio Sciences Showcase Slideshow South Asia Special Stories Spiritual Quotes Spirituality Sports Stories Strategy Technology Technology Terrorism Travel Uncategorized US Video Women Women_s Rights Worship Yoga

Select a Month December 2015 November 2015 October 2015 September 2015 August 2015 June 2015 April 2015 March 2015 February 2015 September 2014 August 2014 January 2014 November 2013 October 2013 September 2013 August 2013 July 2013 June 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 June 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007 December 2006 November 2006 October 2006 September 2006 August 2006 July 2006 June 2006 May 2006 April 2006 March 2006 February 2006 January 2006 December 2005 November 2005 October 2005 September 2005 August 2005

TAKE THE

Religious Wisdom Quiz

What Christian group is known for the doctrine of purgatory?

Select your answer to see how you score.

Lutherans Catholics Methodists Baptists