Present Status of Unemployment In India – Explained Pointwise Present Status of Unemployment in India according to “State of Working India 2023” report Rate of Unemployment- The overall unemployment rate has reduced to 6 6 per cent in 2021-22 from 8 7 per cent in 2017-18 Unemployment based on education and age group – Over 42 per cent of India’s graduates under 25 were
World Employment and Social Outlook: Trends 2025 Report Global unemployment has remained steady, but real wage growth has picked up only in a few advanced economies The real wage growth has partly remained weak due to the shift in labour market power towards employers over the past decade which adversely affects vulnerable groups and young people
[Answered] Discuss the issue of unemployment in India. What India . . . Unemployment is a situation in which the person is capable of working both physically and mentally at the existing wage rate, but does not get a job to work In other words unemployment is a situation in which a person who is willing to work at the existing wage rate does not get a job Unemployment is a reason for alarming concern in India today
India Employment Report 2024 |ForumIAS India’s Youth Unemployment: According to the Periodic Labour Force Survey (PLFS) by the Ministry of Statistics and Programme Implementation (MoSPI), India’s youth unemployment rate (ages 15-29) was 10 2% in 2023-24, lower than the global average
Key finding and recommendations of the India Employment Report 2024 Youth Unemployment: Educated youth face high unemployment rates, with 28% of graduates unemployed in 2022, showcasing a significant mismatch between education levels and job opportunities NEET Challenges: Around 28% of youth were not in employment, education, and training (NEET) in 2022, with females disproportionately affected, highlighting a critical area for policy intervention
Phillips Curve |ForumIAS Phillips Curve is an economic theory which explains the inverse link between an economy’s unemployment rate and inflation rate A W Phillips made the initial suggestion in the 1950s The fundamental tenet of the Phillips Curve is that when unemployment declines, labour becomes more in demand, forcing firms to compete for workers by raising wages
Under-Employment, not Unemployment is the main problem facing India . . . Underemployment v Unemployment Unemployment refers to the economic situation in which an individual who is actively searching for employment is unable to find work Underemployment is a situation where there is a mismatch between the employment opportunities and the skills and education level of the employees
Employment |ForumIAS Lack of suitable skills may result in underemployment or unemployment without adequate upskilling and reskilling Informal Employment : Employment that is not covered by social security or labour rules is referred to as being in the “informal” sector of the labour market
Labour Survey Report 2024 |ForumIAS 7 Decline in Rural and Urban Unemployment: In rural areas, the unemployment rate dropped from 5 3% in 2017-18 to 2 5% in 2023-24 In urban areas, the rate decreased from 7 7% to 5 1% The unemployment rate for males went from 6 1% to 3 2% and for females, it reduced from 5 6% to 3 2% UPSC Syllabus: Indian Economy
Economy Previous Year Questions (PYQs) | UPSC Mains Examination Q 3) Most of the unemployment in India is structural in nature Examine the methodology adopted to compute unemployment in the country and suggest improvements [250 Words] [15 Marks] [2023] Q 4) Distinguish between ‘care economy’ and ‘monetized economy’ How can care economy be brought into monetized economy through women empowerment?