Re: [MTC Global] The current growth is a jobless growth

Let me propose the following hypotheses:

1. Direct co-relationship does not exist between wealth creation/growth (economic growth) and the quantum (number) of additional jobs created.
2. Economic growth can be achieved without adding a single new job or even by reducing the number of existing jobs.
3. Jobs are just means used for wealth creation/growth but not the end in itself.
   

Regards,

Dr. P H Waghodekar, PhD (Egg), IIT,KGP, IE&M, 1985,
Advisor (HR), IBS & PME (PG)
Marathwada Institute of Technology,
NH 211, Beed by pass road,
Aurangabad: 431010 (Maharashtra) INDIA.
(O) 02402375113 (M) 7276661925
E-Mail: waghodekar@rediffmail.com
Website: www.mit.asia
and
Chairman, Advisory Board, MTC Global, Bangalore.


Engineering & Management Education: An Engine of Prosperity.
Classroom teaching must match with Boardroom needs!


From: "Dr. S. S. Dey" <drshibshankar@gmail.com>
Sent: Thu, 01 Jun 2017 10:56:28
To: join_mtc@googlegroups.com
Subject: [MTC Global] The current growth is a jobless growth

Mumbai: Conceding that growth of the economy not translating into more employment, a task force has been set up to compile figures of jobs generated in the last three years, according to Union Minister Bandaru Dattatreya. "The current growth is a jobless growth. Many European and Asian countries, including India, are facing it. Growth is being reported, but it's not reflecting in employment generation," Dattatreya told reporters here on Wednesday.

A jobless growth describes a situation in which an economy recovers from a recession but the job market does not. "But, we should also know that our country has only two per cent technical workforce, against the requirement which is huge," Dattatreya said.

However, the Union Minister for Labour and Employment said the Narendra Modi-led government's initiatives such as 'Skill India' aim to address this shortfall. He said it was true that the statistics department showed that employment generation figures appeared to be on lower side.

"But, I have not received confirmed data from 23 ministries about job creation in their respective fields. I have therefore set up a task force to compile the figures and come up with (figures of) actual employment generation," he said.

The minister also said the current education system has too much emphasis on theory. For instance, he said, in the engineering field 80 per cent curriculum is theory and 20 per cent is practical knowledge, while it should have been 75 per cent practical and 25 per cent theory.

Source: HANS India

Dr. S.S. Dey

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