Conclusion

  1. Service Sector – Emerging as a prospective employer: With the expansion of the service sector, newly emerging jobs are found mostly in this sector.
  2. Technological Advancement: Due to the advent of high technology, now efficient small-scale enterprises and individual enterprises work along with MNCs.
  3. Outsourcing of Work: Outsourcing involves contracting out an activity to an outside specialized agency (sometimes situated even in other countries), which undertakes complete responsibility to handle it using its own manpower. For example, many companies have started outsourcing sanitation and housekeeping functions, which were earlier performed by their in-house staff.
  4. Work at Home: Due to changes in work methods, it has now become a common practice for many people to work from their homes. The Internet has become an amazing means for work at home opportunities.
  5. More Employment in Informal Sector: The nature of employment has become more informal with only limited availability of social security measures to the workers.
  6. Growth in GDP, but not in employment opportunities: In the last two decades, there has been rapid growth in the gross domestic product (GDP), but without a simultaneous increase in employment opportunities. It has forced the government to take up initiatives in generating employment opportunities, particularly in the rural areas.