The curse called unemployment

Unemployment is one of the worst nightmares for educated youth of our country. The issue of youth employment is a global challenge. In India it has emerged increasingly as a daunting challenge over the years. The challenge is particularly analyzed in terms of ongoing demographic transition, regional diversities and changing pattern of labour markets. Unemployment refers to a situation in which skilled and talented people wanted to do a job but cannot find a proper job due to several reasons.An unemployed life is a life of despair. Day by day, the number of unemployed is increasing. Millions of youth of the country are living in despair today due to unemployment. When they don’t get jobs even after studying, they are losing their way. When there is no relief from this problem, some people are resorting to various illegal methods in the hope of getting rid of unemployment. Unemployment is the proportion of the labour force that is unemployed yet looking for work. According to figures released by the Centre for Monitoring Indian Economy (CMIE), India unemployment rate increased to 8.3% in December, the highest level in 16 months, from 8% in November. According to the report, the India Unemployment rate in urban areas increased to 10.09% in December from 8.96% the previous month while it decreased in rural areas to 7.44% from 7.55%. The world is experiencing an unprecedented youth unemployment bulge. World Youth Skills Day is July 15, designated by the UN to call attention to this unseen crisis.While many of today’s youth inhabit a world of unlimited opportunity and possibility, millions more are being left out.There are more youth (ages 15-24) in the world today than ever before – 87% of whom live in developing countries. Today’s youth are three times more likely to be unemployed than adults. Nearly half of all the world’s youth – 621 million – are not employed, in education or training!These youth are stuck – left at crossroads with little opportunity to reach their full potential. Unfortunately, with few choices, many disenfranchised youths are vulnerable to a life of poverty or violence.
Youth unemployment refers to the share of the labor force ages 15-24 without work but available for and seeking employment.
• India youth unemployment rate for 2021 was 28.26%, a 3.36% increase from 2020.
• India youth unemployment rate for 2020 was 24.90%, a 2.16% increase from 2019.
• India youth unemployment rate for 2019 was 22.74%, a 0.31% decline from 2018.
• India youth unemployment rate for 2018 was 23.05%, a 0.47% increase from 2017.
• 621 million young people aged 15-24 years old are not in education, employment or training.
• 75 million young people are trained but have no job.
• In the next decade, one billion young people will enter the labour market, and large numbers of young people face a future of irregular and informal employment.
• Almost 90% of all young people live in developing countries.
• Youth are approximately three times more likely to be unemployed than adults (2.7).
• The International Labour Organization (ILO) estimates that the global youth unemployment rate is expected to reach 13.1% in 2016 (71 million young people) and remain at that level through to 2017 (up from 12.9% in 2015).
• It is estimated that 23% of young people currently employed in the world earn less than $1.25US a day.
(Author is associated with World Peace Institute of United Nations. The views, opinions, facts, assumptions, presumptions and conclusions expressed in this article are those of the authors and aren’t necessarily in accord with the views of “Kashmir Horizon”.)
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