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Saturday, March 15, 2014

Some important truths about India’s labour market

At a recent job fair in Gwalior an unemployed kid told us, "I wantRs 4,000 in Gwalior, Rs 7,000 in Noida, Rs 8,000 in Gurgaon, Rs 9,000 in Delhi and Rs 17,000 in Mumbai. And I mean take-home salary, not gross salary. Now tell me where you want me to go because I am desperate to go." 

Besides his fascinating purchasing power model, this kid captured some important truths about India's labour markets. One, employers care about nominal wages but employees care about real wages. 

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