- Recently, the State of Working India 2023 Report has been released by Azim Premji University's Centre for Sustainable Employment.
Highlights of the Report:-
- The report reveals that over 42% of India's graduates under 25 years of age were unemployed in 2021-22.
- The report also states that the unemployment rate has been reduced to 6.6% in 2021 from 8.7% in 2017-18.
- Since the pandemic, 60% of women were self-employed as compared to 50% before the pandemic.
- Although there has been decline in overall self-employment earnings, there has been increase in women workforce participation.
- Also, there has been an upward trend in intergenerational mobility, but the trend has been weaker for workers of SC and ST castes.
- About 21.4% people who have completed their higher secondary education were unemployed, under 25 years of age.
- The lower caste entrepreneurs are still rare, SC and ST owners are barely represented among firms employing more than 20 workers.
Reasons:-
- The economy is not generating jobs as per the aspirations and ambitions of people with a satisfying earnings, so they choose to be unemployed.
- People who are getting graduation-level education come from high-income household, who have luxury to stay unemployed.
- With regards to intergenerational mobility, it has been found that sons of casual wage workers belonging to SC/ST category have moved to other kinds of employment, while in 2018 they used to work as casual wage workers only.
Source - Indian Express