The Study reveals that aggregate headcount or employment increased at a CAGR of 3.3% between 2014-15 and 2018-19 i.e. over a four-year period.
In terms of growth in employment on an annual basis, it was 2.5% in 2015-16, 4.1% in 2016-17 and 3.9% and 2.8% respectively 2017-18 and 2018-19 respectively. Hence there has been a slowdown in growth in the last 2 years after a sharp recovery in 2016-17.
Growth in employment has trailed growth in GDP indicating that the two have not moved in commensurate terms.
The CAGR in employment and growth in physical production for industries in the manufacturing sector are not well related.
Service sector has performed better than manufacturing with financial sector industries doing better in terms of higher recruitment. The IT sector too had an impressive performance.