India Employment Report 2024 | Nearly 83% of the unemployed workforce comprises young individuals @LLInformed
A recent study released by the International Labour Organisation (ILO) and the Institute of Human Development (IHD) sheds light on the concerning state of youth unemployment in India, with startling statistics revealing a crisis that demands urgent attention.
According to the India Employment Report 2024, nearly 83% of the unemployed workforce in India comprises young individuals. The share of young people with secondary or higher education among the total unemployed youth has almost doubled from 35.2% in 2000 to 65.7% in 2022, indicating a growing disparity in job opportunities for educated youth.
The report highlights a complex trend in youth employment and underemployment, which increased steadily between 2000 and 2019 but witnessed a decline during the pandemic years. Despite this, educated youth continue to face disproportionately high levels of unemployment, raising questions about the structural issues within the job market.
While there have been some improvements in labour market indicators post-2019, the authors of the report caution that these changes need careful interpretation, particularly considering the economic distress experienced during the pandemic. The report underscores the persistent challenges in India's job landscape, including insufficient growth in non-farm sectors and the inability of these sectors to absorb workers from agriculture.
Moreover, the study reveals that almost 90% of workers are engaged in informal work, with a decline in the share of regular employment after 2018. This trend, coupled with widespread livelihood insecurities and rising contractualisation, paints a grim picture of job security in the country.
Furthermore, the report highlights a widening gender gap in the labour market, with low rates of female labour force participation. The unemployment challenge among young women, especially those with higher education, is particularly alarming, reflecting systemic barriers to women's employment opportunities.
The study also addresses the skills gap among India's youth, with a significant portion lacking essential digital and analytical skills necessary for modern workplaces. This poses a considerable challenge to harnessing the demographic dividend offered by India's large young workforce.
As India grapples with these multifaceted challenges, urgent action is needed to address the structural deficiencies in the job market, improve access to quality education and training, and create inclusive employment opportunities for all segments of society. Failure to do so risks exacerbating social and economic inequalities, undermining the potential of India's youthful population.
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