Generating jobs

AMID an optimistic outlook for the Indian economy, unemployment remains a pressing concern. So huge is the number of those without jobs that even positive trends only indicate the enormity of the challenges that lie ahead. The National Sample Survey Office report shows that the unemployment rate in urban areas fell to 6.6 per cent in the July-September quarter of the current financial year from 7.2 per cent in the year-ago period. The worker-population ratio, or the percentage of employed persons, of those aged 15 years or above was recorded at 56 per cent in 2022-23, up from 52.9 per cent in 2021-22. The Periodic Labour Force Survey puts the unemployment rate among graduates in India at 13.4 per cent in 2022-23. It was 14.9 per cent a year ago.

Demographic dividend has for long been labelled as India’s core strength. Experts have been warning about its diminishing effect as so many educated youth are unable to find jobs. Hidden beneath the figures is also the crisis of underemployment and the lack of full-time jobs. India, they point out, will need to create nearly seven crore new jobs over the next 10 years, but realistic estimates put the figure at 2.4 crore. The gap reflects a harsh reality that unfortunately gets lost in political slugfests.

He may be an easy target of disdain for the ruling dispensation, but Congress leader Rahul Gandhi’s interventions on unemployment need to be taken seriously. Low employment and earnings are not only undermining India’s growth story, but also failing the young population. It is self-defeating to shy away from an informed debate and brainstorming to effect a turnaround in the job market.

Join Whatsapp Channel of The Tribune for latest updates.

#Unemployment