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

Bombay: 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, according to data released by the RBI on Monday. Employment in these 27 sectors was 57.75 crore in 2021-22. The Reserve Bank of India (RBI) has put up an update on “Industry-Level Productivity Measurement-India KLEMS Database (Capital (K), Labour (L), Energy (E), Materials (M) and Services (S))” on its website.

The database covers 27 industries spanning the entire Indian economy. It includes Data Manual 2024 and time series productivity data for 27 industries spanning the period from 1980-81 to 2022-23. “Agriculture, hunting, forestry and fishing” employed 25.3 crore people, up from 24.82 crore in 2021-22. Construction, trade and transport and warehousing were among the leading segments providing employment.

The RBI said the document describes the procedures, methodologies and approaches used to build the India KLEMS database, version 2024. “The production 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 aimed at supporting policies aimed at accelerating productivity growth in the Indian economy, it added.