The Covid-19 and the lockdown imposed to fight the pandemic made an already “terrible employment situation” in the manufacturing sector much worse, writes Mahesh Vyas, MD & CEO of Centre for Monitoring Indian Economy (CMIE).
In a column published in the Business Standard, Vyas analyses the growth in wage bill of listed manufacturing companies to understand the job scenario in the sector. The wage bill saw a sharp contraction in the June quarter of 2020, he writes, adding that the period also saw severe lockdown.
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