India is setting new bars in unemployment

According to Indian Labour Organization (ILO) jobless rate for graduates is nine times higher, for young people with secondary or higher education is six times higher than the illiterate ones. The statics shows the most sensitive and common problem existing in the economic. Thus, showing the mismatch between the jobs created and skill available in the market.

It emphasizes on the issue Raghuram Rajan; the well-known economist stated that poor schooling will hinder the economic prospect of India. Figures show unemployment rate for aged 15-29 dropped from 88.6% in 2000 to 82.9% in 2022. Whereas, educated youths climbed from 54.2% to 65.7% thus, not showing so much impact on the figures.

However, gender inequality is also seen in unemployment statics where 76.7% of women are unemployed compared to man. And this jobless statics is seen more in urban area rather then in rural areas.

The unemployment rate is not solely based on the educational metrics, the low paying jobs, temporary jobs are too much affecting the job metrics. The environment and salary structure are affecting the employment rates. The digital job roles and unregistered organizations have made the metrics more complicated to calculate.

The new generation known as so called GenZ, is demanding more flexibility in job culture. Now, the question arises will the new generation make a change that ill impact the economics in positive manner or the social media influences is going to cause a hurricane of unemployment.

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