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Assocham study: Five million jobs lost during high growth years

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New Delhi: As many as five million jobs were lost between 2004-2005 and 2009-2010, paradoxically the time when India witnessed the highest and consistent growth of eight percent in its economy, throwing up a question whether growth should be linked to employment generation, said an Associated Chambers of Commerce (Assocham) study. According to the study, nearly 13 million youth are entering the labour force every year but on the other hand, the gap for the employment and growth got only widened during the period of study which noted that over-emphasis on services and neglect of manufacturing were mainly responsible for this “jobless growth” phenomenon.

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According to the Census India data, the number of people seeking jobs grew annually at 2.23 percent between 2001 and 2011, but growth in actual employment during the same period was only 1.4 percent, leaving a huge gap in the form of unemployment. “This large work force needs to be productively engaged to avoid socio-economic conflicts,” said Assocham secretary general D.S. Rawat. He said the changing demographic patterns suggest that today’s youth is better educated, is probably more skilled than the previous generation and also is highly aspirational. Experts argue that the growth of manufacturing will be the key for growth in income and employment for multiple reasons.

“For every job created in the manufacturing sector, three additional jobs are created in related activities. The other is that manufacturing in India is scalable and has higher labour absorption in comparison to services,” the report said. “In a services-driven economy, which contributed 67.3 percent (at constant price) to the GDP but employed only 27 percent of total working population in 2013-14, enough jobs will not be created to absorb the burgeoning workforce,” it added. In 2013-14, manufacturing contributed 15 percent to the GDP and employed about the same percentage of total workforce, demonstrating that the sector has a better labour absorption means compared to services.

(IANS)

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Russian twitter bots promoted The Labour Party in UK elections, says report

Urging Twitter to act to prevent such interference in the country's election in the future, UK's digital and culture secretary Matthew Hancock said the revelations are "extremely concerning".

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Russia-based Internet Research Agency (IRA), charged with meddling in the 2016 US presidential election, focused on dividing the Americans over race via its 3,517 ads on Facebook.
Democrats from the US House Intelligence Committee last week released 3,517 advertisements that were run on Facebook by the IRA during the 2014-2016 period. Pixabay

Russian Twitter bots attempted to influence the 2017 UK general election results by promoting Labour Party leader Jeremy Corbyn, according to an investigation by The Sunday Times.

Conducted in conjunction with Swansea University, the research discovered that in the run up to the election, 6,500 Russian Twitter accounts, many of which are run by Internet robots known as “bots”, supported the Labour Party.

It has been claimed that most of these accounts, which tried to denigrate the Conservative rivals, were created just weeks before the polling day.

The Labour Party's people-powered election campaign attracted huge levels of public support online. We were not aware of any from automated bots, categorically did not pay for any and are not aware of any of our supporters doing so," a Labour Party spokesperson was quoted as saying by The Telegraph.
Representational Image, Pixabay

The Labour Party denied any wrongdoing and said that its “people-powered election campaign” was the reason for its success.

“The Labour Party’s people-powered election campaign attracted huge levels of public support online. We were not aware of any from automated bots, categorically did not pay for any and are not aware of any of our supporters doing so,” a Labour Party spokesperson was quoted as saying by The Telegraph.

The election saw Corbyn’s Labour Party increase its tally by 31 seats. Prime Minister Theresa May suffered a major setback and lost her parliamentary majority in the election.

Urging Twitter to act to prevent such interference in the country’s election in the future, UK’s digital and culture secretary Matthew Hancock said the revelations are “extremely concerning”.

Also Read: Pakistani Christians Not Feeling Safe After The IS Attack

“It is absolutely unacceptable for any nation to attempt to interfere in the democratic elections of another country,” he told The Sunday Times.

“The social media companies need to act to safeguard our democratic discourse and reveal what they know,” Hancock said. (IANS)

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