November 1, 2017

Demonetisation effect: 1.5 million jobs lost in first 4 months of the year

Call it the cascading effect of demonetisation, around 1.5 million jobs were lost in the first four months of the year (January-April 2017), says a new survey data put out by the Centre for Monitoring Indian Economy (CMIE).

The estimated total employment during the period was 405 million compared to 406.5 million during the preceding four months, September-December 2017.

Moreover, the job losses were concentrated in the younger age brackets, reflecting a sign of an economic slowdown.


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