5 million men lost their jobs after demonetisation, says SWI 2019 report

Though the report does not establish any causal link with the note ban, it says the labour force participation started falling suddenly between September and December 2016 for both urban and rural men

According to an analysis by Bengaluru-based Azim Premji University researchers, five million men lost their jobs between 2016 and 2018. The beginning of the decline in unemployment coincided with Prime Minister Narendra Modi's demonetisation of high-value currency notes on November 8, 2016.

The university released its State of Working India 2019 (SWI 2019) report here on Tuesday, adding to the already raging debate over employment generation at a time when India votes to elect a new government.

The government has not released the results of the new high-frequency Periodic Labour Force Survey (PLFS) conducted by the National