The report, which was released by the Centre for Sustainable Employment of the Azim Premji University, shows that 82% of male and 92% of female workers earn less than Rs 10,000 a month.
“If you earn more than Rs 50,000 a month, you are in the top 1% of the [national] work-force [by earnings],” said Amit Basole lead author of the report and faculty at the Azim Premji University.
The report also found that the rate of unemployment among the educated youth has reached 16%, the highest in recent times. “Because of a rise in education, the youth is willing to hold-out for an employment opportunity that they think is commensurate to their education,” said Basole.
The report also found that labour productivity has grown 6 times in the last 30 years. While managerial wages grew 3 times during this period, production worker wages have grown a mere 1.5 times. As a result, employers have benefitted far more from growth than workers, the report suggested. The numbers have been adjusted for inflation.