Corporate employment up 3.5% in 2016-17

Employment in corporate India grew by 3.5 per cent from 3.94 million jobs in 2015-16 to 4.08 million jobs in 2016-17, according to Madan Sabnavis, chief economist, CARE Ratings. The services sector, which constitutes about 30 per cent of the sample set, employed 60 per cent of the workforce in 240 companies. The study looked at 812 companies with aggregate sales of Rs 36.1 lakh crore to assess the movement in employment in 2016-17, compared with 2015-16. This sample covers 60 per cent of total sales of a larger sample of around 4,300 companies.