Economic Survey 2020-21: Employment

Economic Survey 2020-21: Employment

Part of: GS Prelims and GS- III – Employment

In news 

• The Economic Survey 2020-21 states that the years 2019 and 2020 are landmark years in the history of labor reforms.

Key takeaways

• The country saw nearly 29 Central Labour laws being amalgamated, rationalized, and simplified into four labor codes viz.:

1. 1. the Code on Wages, 2019,
   2. the Industrial Relations Code, 2020,
   3. the Occupational Safety, Health and Working Conditions Code, 2020 and
   4. the Code on Social Security, 2020

• COVID-19 has exposed the vulnerability of urban casual workers, who account for 11.2% of the urban workforce (All-India) as per Periodic Labour Force Survey (PLFS), January-March, 2020.
• Industry-wise estimates on workforce show that ‘Agriculture’ is still the largest employer with 42.5% of the workforce.
• The next important industry is ‘other services’ where 13.8% were engaged.