India's Job Market Stagnates Over Past Decade As Inequality Widens

Share of formal employment with benefits has remained stagnant below 25% over the past decade.

Number of self-employed individuals has substantially increased, especially for women (from 56.5% in 2011-12 to 64.3% in 2022-23).

Income growth has been negligible over the past 5 years across employment categories when adjusted for inflation.

About 34% of households still earned less than the proposed national minimum wage floor of Rs 375 per day in 2022.

The gap between the rich and poor has widened, with the share of national wealth held by the top 10% rising from 63% in 2012 to 64.5% in 2022.