Other academic fields have also been involved. For improved results, it is essential to comprehend how the employment market has altered throughout the years.Data from numerous sources, including official surveys like the Periodic Labour Force Surveys, Annual Survey of Industries, Economic Census, and National Family Health Survey, have been used in a recent paper by the Azim Premji University to try and accomplish this.
Source: Mint
According to the survey, the unemployment rate for recent graduates working at entry-level positions might reach 42%. For older and less educated folks, things are better. The conclusion is that either there are not enough opportunities being generated for educated people, or recent graduates do not have the appropriate and sufficient abilities.
Both possibilities could be accurate. Both the economy and the educational system are affected by this. Another finding is the growing movement in employment from the agricultural to nonagricultural sectors. However, those leaving farms typically only find low-wage temporary jobs. Women completely left the labor force, while men typically entered the construction industry. In rural India, women today make up roughly 28% of the workforce, down from over 40% in the 2000s.
Source: Down To Earth
Since 2019, but primarily in terms of self-employment, which is an indication of distress, it has increased. It is a significant economic weakness because both the participation rate of women in the labour market and the participation rate of all workers are low.One result that has positive societal implications is that there has been improved intergenerational mobility in the workplace over time.
When compared to non-Scheduled Caste and non-Scheduled Tribe groups in 2018, just 53% of sons of casual wage workers were employed in a casual capacity. Improvements were made for the SC and ST groups as well, but to a lesser degree. The study has once more shown that the country’s employment growth has not been sufficiently supported by GDP growth. This necessitates a reconsideration of the characteristics and methods of economic growth and development. The anticipated population growth in the upcoming years will make this even more crucial.
What do you think about this? Comment below.
