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The Indian Job Market has gone through a massive change in the past year.
And with the coming of the Indian Independence Day and the new government, the country is heading for another economic boom.
The latest figures from the Ministry of Labour and Employment (MLA) suggest that the job vacancy rate has fallen from 18.4% in May 2018 to 16.4%.
In July 2018, the unemployment rate stood at 5.5%.
The data is not official, but MLAs have reported that there were around 7.2 million vacancies for various jobs across the country.
These are the numbers from the MLAs.
The MLAs estimate that between May 2018 and June 2019, there were more than 14 million job openings in the labour market.
The total number of vacancies rose by 2.1 million in June, according to MLAs’ estimates.
In the past three years, the number of people entering the labour force has also risen.
MLAs say this is because the country’s growth has slowed down in recent years.
The number of new job openings has also slowed down as the economy has slowed and there has been a decline in the number and size of the job vacancies.
In May 2018, there was an average of more than 1,100 vacancies per month in the labor market, up from an average monthly vacancy of just over 300 in June 2018.
The job market is now more balanced, and there are more vacancies.
“There is no sign of the country going into recession,” said N.P. Ramesh, who is president of the labour and employment wing of the Federation of Indian Chambers of Commerce.
He said the overall job growth rate for the first half of 2019 is estimated to be around 3% and the growth rate in the second half of the year will be around 5%.
“In terms of the overall labour market, the average growth rate is around 4% per annum.”
Ramesh said the slowdown in the economy is partly due to the implementation of Goods and Services Tax (GST), a tax levied on goods and services and which has been implemented in the states and union territories.
“The GST is expected to lead to a big jump in the employment of people in the coming years.”
Rakesh, however, does not expect a big increase in job vacancies because the economy will not have enough cash to fill the vacancies.
This is a factor that will take a while to overcome.
“In the first six months of 2019, the government has been spending more than $2.8 billion to increase the amount of funds available to it.
We are expecting a gradual improvement in the growth of the economy,” he said.
The recent upturn in the numbers is attributed to the demonetisation move that took place in November.
“It’s also a big change in job prospects for Indians.
India is not a country of huge job-creation opportunities, but we are now looking at a new period in which jobs will be created and vacancies will decrease,” Rameshe said.
Rameshe says there are about 1.2 billion people in India, with about 6.5 million of them unemployed.
This has helped the jobless number to fall by about 3% in the last year.