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Somesh Jha
@someshjha7
, 4 tweets, 2 min read Read on Twitter
Part II (Thread): Demonetisation & GST destroyed more jobs than you could think. The NSSO's report throws a light on this. So, the unemployment rate is measured in two ways in the teport: usual status & current weekly status.
business-standard.com/article/bs/dem…
Usual approach is always followed for the headline unemployment numbers in India. However, the current weekly status approach is the best measure the impact of demonetisation and GST on jobs, experts and former chief statisticians told @bsindia
Now, according to the CWS approach, the unemployment rate stood at 8.9% in 2017-18 - more than the 45-year high rate of 6.1% (usual status approach), as reported by @bsindia yesterday.
**report
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More from @someshjha7 see all

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Somesh Jha
@someshjha7
Finance Minister Piyush Goyal reacts to our report on unemployment rate at 45-year high of 6.1%, in an interview to @rahulkanwal

Here's a fact-check thread.
FM: NSSO doesn't have the potential to capture the formalisation that has taken place in the economy since 45 years

Fact: NSSO captures both formal & informal sectors. It covers agri, services and industry sector in all categories, including the self-employed.
FM: Did you ever trust the data of 2% unemployment rate in the country? India has become the fastest growing economy in the world and that cannot happen without job creation.

Fact: No one questioned the numbers because they were NEVER suppressed and all processes were followed
Read 5 tweets
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Somesh Jha
@someshjha7
Scoop: Unemployment rate rose to a 45-year high of 6.1%, as per the NSSO's annual household survey of 2017-18 - the first one after demonetisation

Youth unemployment at astronomically high levels of 13-27%

More people moving out of the workforce.

Read: business-standard.com/article/econom…
THIS is the report NSSO is not making public. THIS is the report that triggered the resignation of members of the National Statistical Commission earlier this week.
The rate of joblessness was higher in urban areas (7.8%) than the rural parts (5.3%).

Labour force participation rate declined from 39.5% in 2011-12 to 36.9% in 2017-18.

So, while more people do not want to be a part of the workforce, those who do want to do not have jobs.
Read 5 tweets
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Somesh Jha
@someshjha7
Thread: It was May 2017. All official and pvt estimates were showing poor job creation under the NDA govt. So, PM @narendramodi decided to set up a task force under @APanagariya, then Niti Aayog Vice Chairman, to suggest the govt improvement in employment data.
The task force's mandate? To submit a comprehensive report by June 2017. The Panagariya panel made public a draft report on July 13, 2017 for seeking comments. Meanwhile, on August 1, news came Mr. Panagariya has resigned to go back to teaching.
The task force was not dissolved. It submitted its final report to the Prime Minister's Office on August 30, 2017 - a day before Mr. Panagariya resigned. But where is the final report?
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