Employment across 27 sectors to grow 3.31% in 2022-23: RBI data

Mumbai: The number of people employed in 27 sectors, including agriculture, trade and financial services, rose 3.31 per cent year-on-year to 59.66 crore in 2022-23, data released by the RBI showed on Monday.

In 2021-22, employment in these 27 sectors stood at 57.75 crore.

The Reserve Bank of India (RBI) has posted an update on its website titled “Industry-Level Productivity Measurement-India KLEMS Database (Capital (K), Labour (L), Energy (E), Materials (M) and Services (S))”.

The database covers 27 industries that make up the entire Indian economy.

Includes Data Manual 2024 and time series productivity data for 27 industries covering the period 1980-81 to 2022-23.

The ‘agriculture, hunting, forestry and fishing’ sector employed 25.3 crore people, as against 24.82 crore in 2021-22.

Construction, trade, and transport and storage were among the segments that provided the most jobs.

The RBI said the document describes the procedures, methodologies and approaches used in building the India KLEMS database, version 2024.

“The establishment and publication of the India KLEMS database is aimed at supporting empirical research in the area of economic growth and its sources,” the RBI said.

Most importantly, the database is intended to support the implementation of policies aimed at accelerating productivity growth in the Indian economy, it added.