Economic Analysis of the Unprecedented Increase in Job Creation Revealed by Recent RBI KLEMS Data

Monday, 8 July 2024, 15:12

The latest data released by RBI KLEMS indicates a surprising surge in employment figures, contradicting the subdued consumption growth reported in GDP data. According to the FY24 tables, a remarkable 46.7 million jobs were generated, far surpassing the numbers from previous years. This unexpected trend poses a significant challenge for economists in deciphering the underlying factors driving this anomaly.

Cnbctv18 — Economic Analysis of the Unprecedented Increase in Job Creation Revealed by Recent RBI KLEMS Data

Key Points:

The recent RBI KLEMS data unveils a substantial increase in job creation.

Highlights:

46.7 million jobs were reportedly generated in FY24 compared to 19 million in FY23 and 11.9 million in FY22.

Despite this surge in employment, the modest 4% growth in consumption as per GDP data raises questions surrounding the accuracy of the job creation statistics.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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