One of the major euphemisms of this century has been the issue of struc-tural adjustment. This implies deregulation, decentralisation, labour flexibility and price distortions. It has been observed that there is no escape from this form of adjustments leading to informalisation of the labour market. In this context, the concept of the informal sector assumes renewed significance in a national economic system. According to the Indian data, unorganised sector employment has grown at a faster rate than the organised sector in the economy. The organ-ised sector unemployment gets easily noticed and its impact becomes more severe because of the lack of a safety net. This informal sector has a greater capacity to absorb the shocks.
|Journal||International Journal of Manpower|
|Publication status||Published - 1998|