Employment elasticity

Employment elasticity is a measure of the percentage change in employment associated with a 1 percentage point change in economic growth.
▪️The employment elasticity indicates the ability of an economy to generate employment opportunities for its population as per cent of its growth (development) process.
▪️The sub-sectors with highest employment elasticities are Rubber and plastic products > Electronic and optical products
> Transport equipment
> Electricity, Gas and water supply
> Wood and products of wood.
▪️To step up the impact of economic growth on employment, the focus has to be on such high employment elastic sectors.