7 mn jobs added between FY11 and FY15, says McKinsey report

Non-farm employment rose by 33 million, farm employment dropped by 26 million

The labour market in India is undergoing a structural transformation. A staggering 33 million jobs were created in the non-farm sector between 2010-11 and 2014-15 finds a new study by McKinsey Global Institute. This implies that roughly eight million jobs were created on average each year. 

But, with farm employment falling by 26 mn over the same period, the net addition to employment over the entire four year period was a mere 7 mn. Overall employment rose from 456 mn to 463 mn over the period.

At the aggregate level, the increase in non-farm jobs is simply not enough to absorb the