Unemployment crisis: The proportion of educated youth among the unemployed increased from 54% in 2000 to 66% in 2022, according to a joint study conducted by the ILO and the Institute for Human Development (IHD).
According to the India Employment Report 2024, jointly compiled by the International Labour Organization (ILO) and the Institute for Human Development (IIHD), Indian youth constituted 83% of the nation’s unemployed population in 2022.
The report was released by Chief Economic Adviser (CEA) V Anantha Nageswaran on Tuesday.
What exactly does the report show?
According to the survey, the percentage of young people without jobs who have completed their education rose from 54.2% in 2000 to 65.7% in 2022. There are more women (62.2%) than men (76.7%).
The research suggests that the issue of unemployment in India has become more concentrated among the youth, particularly the educated ones in urban areas.
The researchers also discovered that between 2000 and 2019, employment and underemployment among young people increased, but decreased during the Covid-19 epidemic years. In 2000, half of the overall working young population was self-employed, 13% worked regularly, and the remaining 37% worked casually. The figures for 2012, 2019, and 2022 were 46%, 21%, 33%; 42%, 32%, 26%; and 47%, 28%, and 25%, respectively. – Unemployment crisis
India will add 7-8 million (70-80 lakh) youths to its labor workforce during the next decade, the study noted and laid out five key policy areas for further action: promoting job creation; improving the quality of employment; addressing inequalities in the labor market; strengthening both skills and policies of the active labor market; and bridging the knowledge deficits on labor market patterns and youth employment.
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The government cannot solve every problem
In response to the report, CEA Nageswaran stated that it was inaccurate to assume that the government should intervene in every social or economic issue.
We must break free from this mindset. In ordinary circumstances, it’s the commercial sector and those involved in for-profit endeavors who should be responsible for recruitment, he remarked.
The government is attacked by the opposition
Numerous opposition figures, including Congress national president Mallikarjun Kharge, criticized the Narendra Modi government regarding the findings of the report.