Loss of urban salaried jobs likely to have debilitating impact on economy

Salaried jobs have taken the biggest sustained hit in the current Covid-19-induced lockdown.

Salaried jobs are preferred forms of employment for most people. These jobs offer better terms of employment and also better wages. Households with salaried jobs are better placed to build savings and plan a sustained improvement in their standard of living. Such households are also better placed to borrow and service their borrowing because of the steady nature of their earnings.

While informal jobs have returned, and even increased after being hit by the lockdown, formal jobs have not. Non-salaried forms of employment have increased from 317.6