It is glorious days of India’s private sector workers. The threat of job loss is non-existent and an all-round improvement in industrial performance has resulted in a sharp rise in employment opportunities. As demand picked up and Corporate India recorded robust growth in turnover and margins, the workers too have witnessed a sharp rise in their earnings.



The result of an ET survey of 200 large private sector companies finds that their aggregate wage bill has increased by a huge 23.5% during the first six months of the current year, compared to the corresponding period of ‘04-05. At the individual level, nearly 90% of the sample companies have witnessed a rise in their wage bill during this period.



One reason for this unprecedented rise is attributed to the rise in number of workers in industries across the board, particularly software and services companies following an improvement in demand conditions. This is reflected in the sharp rise in their wage bills.



This is great news for India’s youth who are just graduating from college. The avenues open for them in the job market has never been so diverse and so good before. Unemployment is also on the decline and wages are the highest ever.



News Source : Economic Times Picture Credit : The Tribune