Employment could expand in October

The week ended October 17 was remarkable as it saw an increase in the LPR and a simultaneous fall in the unemployment rate

An extraordinary September saw 8.5 million additional people being employed. Recent history tells us that gains in employment made in a month are easily wiped out in subsequent months and the net gain over a few months turns out to be negligible. If such a trend were to continue, a significant part of the jobs created in September could just come unstuck in October. However, there seem to be good enough reasons to believe that October would also see an expansion in employment. Of course, there is still some catch-up to do to match the employment India provided in 2019-20.