India employment report 2024

02.04.2024

India employment report 2024

Why in the news?

            Recently India Employment Report 2024 has been released.

Important point:

• This report analyzes the trends and trends of the Indian labor market over two decades.
• The jobs facing the industry are listed by emerging companies as well as the impact of growth on employment.

• The basic long-term feature of the employment situation in the country remains the inadequate growth of non-agricultural sectors and the capacity of these sectors to absorb workers from agriculture.

About India Employment Report 2024:

• India Employment Report 2024 was prepared by the Institute of Human Development and International Labor Organization.
• The India Employment Report 2024, prepared jointly by the Human Development and International Labor Organization, revolves around "youth employment, education and skills".
• It has analyzed trends and patterns of the Indian labor market over two decades, including the Covid-19 year.
• According to the report, India's working age population (15-59 age group) is expected to increase from 61% in 2011 to 64% in 2021 and reach 65% in 2036.
• Unemployment in the country is "primarily a problem among youth", especially those with secondary level or higher education, and it has intensified over time.
• In 2022, the share of unemployed youth in the total unemployed population was 82.9%.
• The share of educated youth among all unemployed people has also increased, from 54.2% in 2000 to 65.7% in 2022.
• Among educated (secondary level or higher) unemployed youth, the share of women is larger (76.7%) than that of men (62.2%).
• There is a significant gender gap in the labor market with low rates of female labor force participation. The gender gap in LFPR has remained almost constant over the past two decades.
• In 2022, the LFPR of young men (61.2%) was almost three times higher than that of young women (21.7%), and the gender gap was similar in both rural and urban areas.
• India's large youth workforce is a demographic dividend, the report said, adding that they do not have the skills to do the job.
• According to the report, 75% of youth are unable to send emails with attachments, 60% are unable to copy and paste files, and 90% are unable to enter mathematical formulas into a spreadsheet.

Key recommendations of the report:

• The ILO and IHD recommended that the Mission take measures to promote women's participation in the labor market, including the formulation of policies including greater provision for institutional care facilities, adaptable work arrangements, improved public transport, improved facilities and enhanced workplace safety. Must be taken in mode.
• To make production and development more employment-intensive.
• To improve the quality of jobs.
• Systems of skills training and active labor market policies becoming more effective
• Focusing on filling the knowledge gap on labor market patterns and youth employment.
• Integrating job creation with macro and other economic policies to promote productive non-agricultural employment.
• Micro, small and medium-sized enterprises should be supported and decentralized.

                                           Source: Indian Express