Top Economist on the Future of India's Jobs: AI, Semiconductor Industry, Informal Sector and More!
SparX by Mukesh Bansal
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Economic Perspectives on Formal and Informal Sector Jobs
Having a more equal society is crucial economically due to the higher marginal propensity to consume. Formal sector jobs lead to higher per capita GDP, indicating a wealthier country. The large informal sector in many countries contributes to lower per capita income. Nation-building and humanitarian aspects are tied to creating more formal sector jobs. The challenge lies in the pace of workforce entry, impacted by education levels. The workforce dynamics are changing with more people pursuing higher education, leading to a smaller working-age population. Worker participation is increasing, indicative of a positive trend in the labor market.
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