Economic Slowdown in India / 12 million workers to return to farms says Crisil

The economic slowdown would push an additional 12 million people to farms between 2013 and 2019, ratings agency Crisil has estimated.

Non-farm employment would decrease more than 25% between 2012-13 and 2018-19 to 38 million, the agency stated. “That’s because fewer jobs are being created with the economy treading a lower-growth path and labour intensity is declining across industry and services,” Crisil said.

“As a consequence, an additional 12 million people will be redirected to farms in financial year 2013-19,” it said. The industry and services sectors added 52 million jobs between 2004-05 and 2011-12. This large scale job creation led to the migration of labour pulling 37 million away from farms.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via Slowdown will force 12 million workers to return to farms: Crisil – The Times of India.