Employment Scenario in INDIA
India as a developing country is filled with plethora of opportunities for potential employment generation. In India, we need to start from grass-root level.
Among the work force 8 to 10 percent of the work force of the country is employed in the organized sector.
with a population of 1.27 billion people and a vibrant younger generation, India boasts of one of the biggest and brightest talent pool in the World.
With this much growth potential and opportunities, what could be the reason for this everlasting Unemployment. One reason is that the" Economy is generating less jobs per unit of GDP", that is , more work is now being done with fewer employees.
Another reason is that a lot of the jobs that are being created are of poor quality despite strong economic growth and some 77% of workers in India will have vulnerable employment by 2020 and while the overall unemployment rate hovered between 3.4% to 3.5% in the years 2017-2019, the unemployment rate in the age group of 15-24 years is much higher, which is expected to increase further form 10% in 2014 to 10.7% in 2019. In 2017, the unemployment rate in the 15-24 age group was 10.5%.
So, where are those millions of jobs that were supposed to be created according to the stats? The obvious reason for this high unemployment rate specifically among youth is that the young and bright of our country are not as prepared as they should be. Most of the youngsters make the mistake of choosing a degree over skill and suffer the consequences later.