ADVERTISEMENT
India’s Youth affected most by unemployment finds report
Despite improvements in education levels among the youth population, the labor market proved to be dismal
Anantha Nageshwaran at the report’s launch event / X - @ILONewDelhi
India continues to grapple with surging unemployment rates, with the youth (nearly 83 percent) being the highest unemployed population.
According to an International Labour Organisation (ILO) report the total unemployed youth has nearly doubled from 35.2 percent in 2000 to 65.7 percent in 2022.
ILO and the Institute of Human Development (IHD) jointly published the India Employment Report 2024, shedding light on the evolving labor market of the South Asian nation.
Launched by Anantha Nageshwaran, chief economic adviser to the Government of India, and chaired by former chief economic advisor Deepak Nayyar, the report provided an analysis of the challenges faced by India’s youth in accessing quality employment opportunities.
According to the report, India’s demographic dividend presented a significant opportunity for economic growth, with millions of youth entering the labor market annually. However, there was a mismatch between aspirations and available job opportunities.
Despite improvements in education levels among the youth population, the labor market proved to be dismal.
One of the report’s main findings was that women faced disproportionately higher rates of unemployment and disengagement from the workforce compared to men. While the challenges intensified with age, the gender disparity held true even when comparing graduates.
The dominance of self-employed and casual employment continued to prevail, with a vast majority of the workforce engaged in informal employment.
Stagnant wages, coupled with an increase in contractual employment, contributed to the widespread insecurities among the youth.
Addressing the crises in the Indian labor market, the report advocated for a multi-faceted approach focused on promoting job creation, enhancing employment quality, and mitigating labor market inequalities.
Key recommendations include supporting micro, small, and medium-sized enterprises (MSMEs), investing in sectors with high potential for youth employment, and formulating inclusive urban policies to accommodate the needs of vulnerable populations.
ADVERTISEMENT
ADVERTISEMENT
E Paper
Video
.png)
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login