About 1.5 million jobs were lost during January-April 2017. The estimated total employment during the period was 405 million compared to 406.5 million during the preceding four months, September-December 2017. After the demonetisation of November 8, it was evident to the new labour force that there was a serious dearth of jobs. This is evident in the drop in the labour participation rate. The average labour participation rate was 46.9 per cent from January through October 2016. This average had a narrow range between 48.4 and 45.9 per cent.
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