Thursday, February 05, 2009

5 lakh jobless; Stats and wicked stats

Sample size of 2581 units covering 20 centres across 11 states was taken up for the survey. Eight major sectors like textile and garment industry, metals and metal products, Information Technology and BPO, automobiles, gems & jewellery, transportation, construction and mining industries were also included in the survey.

5 lakh? ~0.04% ? Not a chance, must be way higher. Ports are at a standstill, house construction has stopped (when was the last time you heard of someone you know buying a house), auto sales/CV sales are down, bank disbursements are down, industrial productivity is flat, tax collections are down....

This should be seen as to be in the category of the "quick" estimate released by the Central Statistical Organization (they have two revisions from their first numbers - this is the first revision). GDP will still grow spectacularly. Election tactic? Not so sure. Heard that the 'noodle strap' agitation is being done in national interest, if you wear more cloth it will mean more employment in the textile industry. In the same vein the well draped Sushma Swaraj is going to ask all of us to wear more, now that she is not contesting.

Anil Bhai and Mukesh bhai, all their 'refined' and 'power'ful troubles not withstanding are still close the top of the Forbes list... among other news.

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