Manufacturing jobs yet to recover

Wages have grown at a faster rate in the non-finance services sector compa­red to manufacturing

Listed companies made record profits in the quarter ended September 2021. Net profits touched Rs 2.5 trillion, which is the highest ever profits made by such companies. Salaries and wages also reached a record level at Rs 2.1 trillion. But while the wage bill rises steadily over time, the profit trajectory is volatile. Wages march at a steadier pace.

The record wage bill of listed compa­n­ies in the quarter ended September 2021 was 4 per cent higher than in the quarter ended June 2021. In the preceding two quarters, the quarter-over-quarter growth was around 2 per cent, while in the