Thursday, June 11, 2009

RBI's select economic indicators and Emp exchange data

Summary of select economic indicators is here Look at the employment exchange statistics:
Number of Registrations 6.5 million
Placed in employment: 2.65 lakhs
On live register: 34.6 million

Options(multiple choice)
a)RBI should stop collecting this vital economic data and start using more contemporary
indices like job portals and number of jobs advertised in newspapers
ball employment exchanges should be shutdown.
c)GoI should pretend to be doing something about it by appointing a commission.
d)Management of Employment exchanges should be handed over to private sector.
e)Job portals should start their physical presence to cater to non netizens which is a big market(>94% of whole labour force of India).
f)Employment exchanges should be made digital.

Thanks to ankush for correcting the mistakes in first draft and sharing Assocham study on efficacy of Employment exchanges and the exampleset by Gujarat. One caveat is that the low unemployment rates mentioned here are misleading since it includes sub subsistence employment as employed (@ <$1 a day) as elaborated by Bibek Deb Roy

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