Chief Economic Advisor V. Anantha Nageswaran addresses a press conference after the tabling of the Economic Survey in the Parliament, in New Delhi on January 31, 2025.
| Photo Credit: ANI
Pointing towards a decrease in regular jobs and shift towards casual employment, the Economic Survey tabled in Parliament on Friday (January 31, 2025) found that the proportion of self-employed workers in the workforce has risen from 52.2% in 2017-18 to 58.4% in 2023-24. “This shift reflects growing entrepreneurial activity and a preference for flexible work arrangements,” the survey claimed. It has also added that the agriculture sector still remains dominant in employment with its share rising from 44.1% in 2017-18 to 46.1% in 2023-24.
The share of workers (male and female) in regular/salaried jobs decreased from 22.8% to 21.7% during the same period. However, the trend has stabilised since 2020-21, with employment levels either holding steady or showing gradual improvement. “The decline in casual workers, from 24.9% to 19.8%, also indicates a shift toward more structured forms of self-employment. These changes suggest an evolving workforce that embraces flexibility and independence in response to industry transformations and individual preferences,” the survey said.
Recommending further deregulation, the survey said it will boost employment, whether or not related to labour, because it helps lower the cost of doing business and allows for the resource to be used for expanding capacity through more labour and better equipment. “By simplifying compliance, fostering labour flexibility, and promoting worker welfare, labour reforms have created an enabling environment that balances ease of doing business with the protection of workers rights. Together, these measures foster a ‘virtuous cycle of job creation,’ supporting sustainable employment growth and economic inclusivity,” the survey concluded.
The other key indicators of the labour market in the survey, citing various Periodic Labour Force Surveys and other government statistics, include that the unemployment rate, for individuals aged 15 years and above, has steadily declined from 6% in 2017-18 to 3.2% in 2023-24. The net additions to the Employees Provident Fund Organisation (EPFO) subscriptions have more than doubled, rising from 61 lakh in 2018-19 to 1.31 crore in 2023-24. “Nearly 61% of net payroll addition came from less than 29 years of age indicating that new jobs in the organised sector are going to the youth,” the Union Labour Ministry said in a release.
Citing the Annual Survey of Industries (ASI) results for 2022-23, it said there is more than 7% increase in employment over the previous year. “This translates into an addition of over 22 lakh jobs in 2022-23 over 2018-19 (pre-pandemic level),” the Ministry said.
Published – January 31, 2025 09:33 pm IST
