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India’s Falling Unemployment Rates

India’s Falling Unemployment Rates

Content Writing by Prashant Singh Sir WDA

What is India’s labour market status?

Labour force survey 2017-18 suggests unemployment at 6.1 %-average for several past decades was 2 per cent-reduced to 5.8% in 2018-19 Scenario post lockdown is grim and urban unemployment in India rose to 21% in recent PLFS, also impact of lockdown on job market was unevenly distributed Gender disparity- 30-59-year-old men secured 90 percent of all jobs between 2011-12 and ‘18 -no jobs for young people and women India’s LFPR is at around 40 per cent when the global rate is close to 60 per cent. People are moving away from factories as manufacturing jobs shrink, to farms that provide shelter largely in the form of disguised unemployment. #Unemployment Rates

India’s Falling Unemployment Rates

Why is unemployment so high?

 Jobless Economic Growth:

 India’s GDP #grown at abouloid migration. Factors like the diversity of language, religion and customs also contribute to low mobility. Impact of unemployment The problem of unemployment gives rise to the problem of poverty. Young people after a long time of unemployment indulge in illegal and wrong activities for earning money. This also leads to an increase in crime in the country. It is often seen that unemployed people end up getting addicted to drugs and alcohol or attempting suicide, leading to losses to the human resources of the country. It also affects the economy of the country as the workforce that could have been gainfully employed to generate resources actually gets dependent on the remaining working population, thus escalating socioeconomic costs Do we see green shoots in employment? January to March quarter could be better for employment in India, suggests the Manpower Group Employment Outlook Survey. Of the 3,020 employers it surveyed, 64% expect to increase their staffing levels Headline growth figures show that India’s economy is now close to regaining its pre-pandemic level. But this recovery has been uneven, with many small and medium enterprises yet to stabilize Efforts taken by the government Pradhan Mantri Kaushal Vikas Yojana (PMKVY), launched in 2015 has an objective of enabling a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. #Unemployment Rates

#Start-Up India Scheme, launched in 2016 aims at developing an ecosystem that promotes and nurtures entrepreneurship across the country.

#Unemployment Rates
#Unemployment Rates | Best NDA Coaching in Lucknow

Shram Suvidha Portal:

The MoL&E has developed a unified Web Portal “Shram Suvidha Portal’, to bring transparency and accountability to the enforcement of labour laws #Unemployment Rates

Way ahead

There are a number of labour-intensive manufacturing sectors in India such as food processing, leather and footwear, wood manufacturers and furniture, textiles and apparel and garments. Special packages, individually designed for each industry are needed to create jobs. Development of the rural areas will help mitigate the migration of the rural people to the urban areas thus decreasing the pressure on the urban area jobs. Entrepreneurs generate employment for many in a country; therefore, the government needs to encourage entrepreneurship among the youth. Broad basing MNREGA-increasing its fund-a large proportion of that avail it is in the age group 18-30-youth unemployment problem can be tackled-PM Kisan too. Reviving demand in the construction sector -the second largest source of employment, after agriculture-should be a single adjudication authority currently stuck with RERA, NCLT, and bank NPAs-national infra pipeline, is a welcome step. #Unemployment Rates

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