The India Employment Report 2024, jointly released by the International Labour Organisation (ILO) and the Institute of Human Development (IHD), shines a stark light on the nation’s employment landscape. Highlighting a troubling surge in youth unemployment, the report reveals a staggering increase in the proportion of jobless youths with secondary education or higher qualifications.
In the India Employment Report 2024, the trend underscores a pressing need for concerted efforts to address the employment crisis facing the country’s educated youth. Moreover, the report exposes significant skill gaps among the younger demographic, with many struggling to perform basic tasks essential for today’s job market. Gender disparities persist, further exacerbating socio-economic inequalities.
Despite affirmative action measures, marginalized communities like Scheduled Castes and Scheduled Tribes continue to grapple with precarious, low-wage employment. Urgent government intervention is imperative to mitigate these challenges and foster a more inclusive and equitable labor market landscape.
Source – The Hindu
We have explained this India Employment Report 2024 more efficiently below by portioning each facts-
India Employment Report 2024: Alarming Surge in Educated Youth Unemployments
The recently released India Employment Report 2024, jointly presented by the International Labour Organisation (ILO) and the Institute of Human Development (IHD), highlights a concerning trend: the proportion of unemployed youth with secondary education or higher has surged drastically from 35.2% in 2000 to a staggering 65.7% in 2022.
Dominance of Youth in Unemployment
The report on India’s Employment reveals a stark reality: young individuals constitute an overwhelming 83% of the total unemployed populace in India. Despite fluctuations in employment patterns, including a pre-pandemic uptick and subsequent downturn amidst pandemic disruptions, unemployment among educated youth remains a pressing concern.
Nuanced Labor Market Indicators
Examining labor market indicators, the India Employment Report 2024, delineates a nuanced trajectory marked by a protracted erosion in metrics like the Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR), and Unemployment Rate (UR) over the early two decades of the millennium. However, post-2019, a glimmer of optimism emerges amid economic distress, raising questions about the sustainability of this resilience.
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Paradoxes in Employment Dynamics
Despite purported strides in non-farm sector growth, the India Employment Report 2024, underscores a paradox: the sector’s expansion fails to adequately absorb surplus labor from the agrarian landscape. While non-farm employment sees an uptick compared to agriculture, informal employment persists, overshadowing formal labor market opportunities.
Skill Gap Among Youth
The India Employment Report 2024, exposes a significant skill gap among the youth demographic, with many struggling with basic tasks such as email correspondence and spreadsheet manipulation. Moreover, pronounced gender disparities persist, with low rates of female labor force participation exacerbating socio-economic inequalities.
Socio-Economic Cleavages
Despite affirmative action and targeted policies, socio-economic cleavages persist, particularly among marginalized communities like Scheduled Castes and Scheduled Tribes. Although these groups exhibit heightened labor force participation, they often find themselves trapped in precarious, low-wage employment arrangements.
Imperative for Government Intervention
Against a backdrop of entrenched inequities and rising youth unemployment, the India Employment Report 2024, underscores the urgent need for robust government intervention. It advocates for a multi-pronged approach encompassing enhanced education and skill development initiatives, efforts to bolster formal employment avenues, and targeted interventions to address socio-economic disparities. Only through concerted action can India forge a path towards a more equitable and inclusive labor market landscape, leveraging the potential of its burgeoning youth demographic.
Key Facts about this report-
- in the India Employment Report 2024, proportion of unemployed youth with secondary education or higher has nearly doubled from 35.2% in 2000 to 65.7% in 2022.
- Youth account for almost 83% of India’s unemployed workforce, signaling a significant challenge.
- According to the India Employment Report 2024, employment and underemployment of youth increased between 2000 and 2019 but declined during the pandemic.
- Educated youngsters experienced notably higher levels of unemployment during the specified period.
- Long-term deterioration in labor market indicators like Labor Force Participation Rate (LFPR) was observed till 2018.
- Worker Population Ratio (WPR) and Unemployment Rate (UR) also showed a decline over this period.
- However, there was an improvement post-2019, coinciding with periods of economic distress.
- Non-farm employment growth outpaced farm employment, yet informal work remains prevalent.
- A significant portion of the workforce, nearly 90%, remains engaged in informal employment.
- The majority of workers are not covered by long-term contracts, indicating widespread job insecurity.
- A substantial skill gap exists among Indian youth, hindering their employability.
- Many youths lack basic job-related skills such as email correspondence and spreadsheet manipulation.
- India faces a substantial gender gap in the labor market, with low female labor force participation rates.
- Despite affirmative action efforts, marginalized groups like Scheduled Castes and Scheduled Tribes lag in job access.
- Education attainment hasn’t translated effectively into employable skills for many individuals.
- The report highlights paradoxical improvements in labor market indicators despite insufficient growth in non-farm sectors.
- Socio-economic disparities persist despite targeted policies, perpetuating cycles of economic vulnerability.
- Government intervention is imperative to address youth unemployment and socio-economic disparities.
- Robust measures are needed to bridge the skill gap and create more formal employment opportunities.
- The report underscores the urgency of fostering a more inclusive and equitable labor market landscape.
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