The July purchasing managers’ index (PMI) numbers have come in lower than June and the labour data from Centre for Monitoring Indian Economy (CMIE) survey also shows that after a distinct improvement in June both labour participation and unemployment have not improved in July.

Manish Sabharwal, chairman of TeamLease Services which is India's largest staffing and human capital firm shared his views and outlook.

TeamLease has over 95,000 employees in 1,800 cities and is implementing India’s first vocational university in Gujarat and first national PPP apprenticeship programme.

Sabharwal is a member of the Reserve Bank of India (RBI) board, member of the national skill mission and the central advisory board of education. He also serves on various state and central government committees on education, employment and employability.