ASAP WAYANAD
NEWSLETTER
APRIL
2017
COMPANY
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MERCY PRIYA
PROGRAMME MANAGER
INCHARGE OF WAYANAD Dt.
Riding Through the Realm of Skills, Towards A Better Economy
Over the past few years, there has been significant interest in the relationship between movements in economic activity represented by GDP growth and movements in the labour market represented by employment growth. According to the principles established by Okun’s Law, there is a corresponding two percent increase in employment for every established one percent increase in GDP. The reasoning behind this law is quite simple. It states that GDP levels are driven by the principles of demand and supply, and as such, an increase in demand leads to an increase in GDP.
Obviously, acquisition of skills which make the youth employable makes larger sense in the macro economic scenario though we often doubts whether skill or concept belongs to a larger realm. On safer side, we use to assume that skills should follow the concept on long run but acquiring need-of-the-hour skills propels current GDP. Hence, lets join hands to skill the youth to propel our economy to greater highs.