Unemployment In India:First RBI report came that people’s savings have reached the lowest level in 50 years and the debt burden on people is increasing. Now a report has come out regarding unemployment in the country which is disturbing. According to a report, 42.3 percent of young graduates under 25 years of age in the country are unemployed. The unemployment rate in the country was 8.8 percent in 2019-20, which has come down to 7.5 percent in 2020-21 and to 6.6 percent in the financial year 2022-23. But there has been an increase in the unemployment rate among the educated youth.
This information has come to light quoting Azim Premji University’s State of Working India 2023. According to the report, the highest unemployment rate of 22.8 percent is among the youth of 25 to 29 years. The unemployment rate among youth below 25 years of age who have received higher secondary level education is 21.4 percent, which is the highest. The unemployment rate among graduates aged 35 years and above is less than five percent. Whereas the unemployment rate among graduate people aged 40 years and above is only 1.6 percent.
According to the report, the unemployment rate among illiterate youth below 25 years of age has been found to be 13.5 percent. Whereas the unemployment rate among the illiterate group aged 40 years and above is 2.4 percent. This report of Azim Premji University is based on government data. This report has been prepared on the basis of official data like NSO’s Employment-Unemployment Survey, Labor Work Force Survey, National Family Health Survey, Annual Survey of Industries, Population Census. A special survey named India Working Survey has also been conducted in rural Karnataka and Rajasthan.
The report said that even though the unemployment rate in the country has decreased, the income level has remained stable. According to the report, women’s income had started declining even before the Corona epidemic hit. Since 2004, the female employment rate was either declining or remaining stable. Since 2019, women’s employment has increased. A large number of women have adopted self-employment during the pandemic. Before the Corona epidemic, 50 percent of women were self-employed and since the epidemic, the figure has increased to 60 percent.
Also read
Get more latest business news updates