what do you expect would trigger organic job creation? increased economic activity? and for this increased economic activity do you want new enterprises to come up or the existing ones to expand? if this is the case, you may be at fault while pursuing the goal of job creation.
our country, india, is a typical example of how population rise outpaces creation of new economic activities. you may come up with best measures – liberalisation or incentives to new enterprises – but the impact of these measures wouldn’t be enough to result into creation of as much employment opportunities as the country seeks.
a simple and untapped way out to this problem is expanding the existing economic activities in such a manner that already existing enterprises see an increase in their appetite to absorb more unemployed youth.
take an example. a public sector bank in india works from 10 am to 5 pm and remains shut on alternate saturdays and all sundays. while banking services are mainly accessed by the working class, this section feels handicapped when they see the establishment closed at a time when they are off from their work responsibilities.
this gives an alternate opportunity to create more jobs in the already established economic activity and without even any expansion in product list. the same public sector bank can function from 7 in the morning till 7 in the evening and could operate on all 365 days of the year.
another target achieved by this exercise will be eradication of income disparity and inequality in living standards of the populace. by cutting short the working hours from 8 hours/ day to 6 hours/ day, 2 people instead of 1 will employed in the same job for the day. indeed, the compensation for the job has to be rationalized and in the process equitable distribution of wealth will automatically be achieved.
the same exercise would cover all establishments in the country, public or private. the only tough stance that the government needs to take is to rework maximum working hours for employees/ workers so that more people get the opportunity that is presently rewarding only a few.
india is also a typical example of a country where an employed person becomes rich on the expense of the other.
early retirements (of course with social security), extension of working hours of enterprises and a 24x7x365 working environment are the measures that would create enough jobs without having to rely on new economic activities and setting up of new enterprises.