 There is a widespread assumption that if you grow the economy, jobs will follow. But the recent evidence is that you can have rates of economic growth that are far higher than the rate of employment growth in countries because the path of economic growth has been capital intensive rather than labor intensive. For instance, the country, India, the economic growth has been IT led led by the biotech companies and the pharmaceuticals. It has not been broad labor based manufacturing led. And so India is a middle income country with a labor market that looks like a developing country. Over 90% of the workforce is informal. Economic growth is simply not enough. We need jobs led economic growth, labor intensive economic growth.