Layoffs , a recent survey finds, remain a commonplace despite the economic growth picking up.This phenomenon could add weight to the argument that India is witnessing a jobless growth. "The current growth is a jobless growth. Many European and Asian countries, including India, are facing it...growth is being reported but it is not reflecting in employment generation," then labour minister Bandaru Dattatreya had said in May last year.Last year, domestic rating agency Care Ratings said employment generation had not kept pace with GDP expansion. A recent report by Profëssor Pulak Ghosh of IIM Bangalore and Dr. Soumya Kanti Ghosh, chief economic adviser, SBI, debunked the theory of a jobless growth in India. This was more than double the 64,000 jobs created in the preceding quarter and more than four times the 32,000 jobs created a year ago.

Source: Economic Times April 14, 2018 07:41 UTC