The first question that came to mind was the reconciliation between job creation and economic growth, and job creation and bank credit growth to industry. Therefore, it would be reassuring if other evidence—direct or indirect—reinforces their estimate of formal job creation. This is actually in line with the jobs growth seen for these companies over the last 10 years. Yes, that would be still formal sector jobs, even if not necessarily better-paying corporate jobs. Ghosh and Ghosh do not claim that all the formal sector jobs that have been created have been created on the payrolls of the corporate sector.

Source: Mint January 24, 2018 07:18 UTC