Employment is the source of growth of the nation. The drastic recession of the country during the Covid 19 phase has taken employment to nadir. Employment is the need of the hour as the unemployed workforce is downfall productivity of the nation. The rising population should ensure rising demand and thus, an increase in supply and employment. But this phase of falling employment with rising population and stagnant demand is a spiral that would continue if not handled with an effective and efficient policy.
In order to tackle the complexities of unemployment while charting out ideas for creating an employment hub nation, the Center for Work and Welfare(CWW) at IMPRI Impact and Policy Research Institute, New Delhi, organized an online discussion on The Need for a National Employment Policy the state of employment and Livelihood– #Employment Debate series on 12 August 2021.
Underemployment and Disguised Unemployment
The discussion was initiated by the moderator, Prof K R Shyam Sundar, who drafted that employment has not only become a social issue but a political issue as well. He stated that the labor market is experiencing huge distress with little or no job opportunities.
Then he introduced two new terms that are emerging in today’s economic scenario:
- The first one is underemployment and
- Second is disguised unemployment.
He also emphasized the emerging job opportunities that could be dwarfed because of various exogenous factors.