Around 50 lakh lost their jobs post demonetisation

Around 50 lakh lost their jobs post demonetisation

As many as 50 lakh people have lost their jobs since demonetisation, according to a report. The report also reveals that most of the people, who lost their jobs, belonged to vulnerable sections of society and worked in the informal sector.

The report – "State of Working India 2019" released by the Azim Premji University state that women continue to face higher unemployment rates than men. The report assesses that unemployment has increased gradually after 2011.

"Whether or not this decline was caused by demonetisation, it is definitely a cause for concern and calls for urgent policy intervention," the report further stated.

Notably, the National Sample Survey Office's (NSSO) Periodic Labour Force Survey indicated the unemployment rate at 6.1 percent for July 2017-June 2018. However, government withheld the report and NITI Aayog vice chairman Rajiv Kumar said the report was "not verified".

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