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A tale of two methodologies: Which dataset captures the real picture of the labour market?
Synopsis
As the survey methodologies are different for PLFS and CMIE, it is useful to compare the datasets and undertake some simple smell tests.
For an evidence-based policy, high frequency, timely, accurate and granular data are critical. The two main sources of employment data for the Economic Survey are the Periodic Labour Force Survey (PLFS) by the National Statistical Office (NSO) and the Consumer Pyramids Household Survey (CPHS) by the Centre for Monitoring Indian Economy (CMIE). While the PLFS quarterly survey, launched in April 2017, covers the urban sector, the CPHS data’s
India s unemployment rate drops to 6.5% in January; employment rate surges to 37.9%: CMIE
The unemployment rate declined to 6.5 per cent in January 2021 from 9.1 per cent in December 2020, while the employment rate surged to 37.9 per cent as compared to 36.9 per cent, says CMIE
Chitranjan Kumar | February 15, 2021 | Updated 17:31 IST
Nearly 12 million additional people were employment during January 2021
The year 2021 started on positive note for India as it recorded a significant fall in the unemployment rate and an equally impressive increase in employment rate in January, according to private think tank CMIE. Employment in India, however, remained lower than it was before the pre-COVID levels, but there were lesser unemployed people willing to work as well, it said.
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“A full week after the presentation of the Union Budget, the Index of Consumer Sentiments fell 4.2% in contrast to a 9% increase in equity market valuations response to the budget on the bourses,” CMIE said in its weekly analysis. “Households were not very impressed with the budget. On the contrary, they have expressed their displeasure with it,”it said. The findings are based on the Consumer Pyramids Household Survey by CMIE.