11th Economics Chapter 6

Work plays an important role in individuals' lives as it provides a sense of self-worth, allows for a meaningful connection with others, contributes to national income and development, and helps meet the needs of dependents. It is about actively engaging in economic activities to earn a living.

In 1972-73, about 74% of the workforce was engaged in the primary sector, which decreased to about 50% by 2011-12. Meanwhile, the secondary and service sectors saw an increase in their workforce shares from 11% to 24% and 15% to 27%, respectively.

The shift, known as casualisation of the workforce, observed during 1972-94 exposes workers to higher vulnerability. This trend reflects a moderate rise in the share of regular salaried employees in 2017-18, which indicates some stabilization and possibly better job prospects.

Generating employment in the formal sector is crucial as it provides workers with job security, social protection, and better working conditions compared to the informal sector. Formal sector jobs offer stability and benefits that support long-term economic well-being.

Casual wage labourers are individuals who work intermittently for short periods. They face high vulnerability due to the lack of job security, social benefits, and stable income associated with casual work. This precarious nature puts them at risk of financial instability.