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Thursday, July 2, 2009

58 million job opportunities expected in 2007-2012 Period

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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