Unemployment in India

Current Employment Scenario

  • Global IIT Alumni Support Group data on campus placements at IITs highlights concerns about unemployment.
  • Centre for Monitoring Indian Economy (CMIE): Unemployment rate rose from 7.4% (March 2024) to 8.1% (April 2024).
  • Periodic Labour Force Survey (PLFS) 2023: Overall unemployment rate at 3.1%, with urban unemployment (5.2%) higher than rural (2.4%).
  • World Bank’s South Asia Development Update: India has low female employment ratios.
  • ILO’s India Employment Report 2024: One in three unemployed individuals is young.

Key Factors Contributing to Unemployment

  • High population growth: Employment growth (1.7%) lags behind the working-age population (1.9%).
  • Skill Gap: Only 4.7% of India’s labor force has ....
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