| Syllabus: GS III, Subject: Economy, Topic: Unemployment and issues, Issue: Measuring unemployment & Indices, trends, reports |
Context: The India Employment Report 2024 released by the International Labour Organization (ILO) and the Institute for Human Development (IHD).
Key trends in unemployment in India
- Two-thirds of unemployed individuals in India were young graduates.
- Periodic Labour Force Survey data for 2022-23 shows diverse unemployment rates across Indian states.
- States with more self-employment have lower unemployment.
- Highly urbanized states like Goa and Kerala exhibit higher unemployment rates.
- Higher education levels among the labor force are associated with higher unemployment.
Analysis of the unemployment trend:
- Graduates may lack the skills needed for the modern sector, calling for improvements in teaching infrastructure and standards.
- Aspirations for high-wage jobs might lead graduates to shun informal employment,
- Structural transformation, with reduced agriculture and increased urbanization and education, heightens unemployment pressure.
The way ahead:
- Policy focus on employment generation is crucial to mitigate rising unemployment in developing economies like India.
| +1 advantage for mains (Data point):·  Goa has the highest unemployment rate, nearly 10%, significantly above the national average, with Kerala, Haryana, and Punjab also reporting high rates. |
