M. Visvesvaraya, a renowne Politician and Engineer, expressed concern over youth Unemployment in 1932, and said that it is the biggest problem for Unemployed people in the country.
When people get upset on the occasion of Youth Unemployment Day, people remember the statement of M. Visvesvaraya which was said 90 years ago. However, on this occasion, many people have been suspended from the Parliament.
Many of the questions related to Unemployment are asked in the Exam, that is why we will present all the aspects in front of you.
Are Graduate Students Facing Unemployment?
We will present some points related to this in front of people.
- News related to this has been done
- Why is it in discussion
- L.F.P.R.
- Types of unemployment in India
- Practice questions
News
(This news was mainly written by“The Hindu”news with the heading “Are Graduates Facing Unemployment“)
Why is it in Discussion
Why this is in discussion at this time, some Reasons are being given behind it.
- Opposition blames government on youth unemployment
- Adhikarik Aakde is vipreet hai
- According to the last date
- unemployment rate
2017-18 (6.1%)
2023-(3.2%)
5.Highest Rate of Youth highly educated Unemployment
6.Problem in creating employment for young Graduates
7.The Situation has worsened in recent years.
These figures have been refuted by Opposition party who clearly says that when the number of Graduate Students has increased then how is such a drop in the unemployment rate possible according to him these fiqures are not true.
Will Look at the Date
Let us understand the Reality according to the Data
- Analysis NSO Survey kee 50th Round 1993-1994
- PLFs Survey 2023 gives employment data of 18 to 65 years
- OPLFs Survey 2023 gives employment data of 18 to 65 years
- the basis of last year’s Labour Force activity
Total Labor Force-Unemployment
- Graduation Degree-Unemployment
- Youth graduate unemployment rate (18-29)
- Share of labor and graduation
- Labor Force Participation Rate in Decline
What is L.F.P.R.
According to CMIE-Centre for monitoring Indian Economy
- Log of 15 years or more is included while calculating the rate and log of 65 years is included.If you fall in any of these 2 categories, you will be eligible for L.F.P.R.
(a) Employed/Worker
(b) Unemployed and willing to work who are actively looking for a job.
Let’s Understand from the Graph
This also shows that in the last few years
(15 years and above) most of the working
population in India is deciding to leave jobs
and with thi the proportion of such people
is decreasing
Limitation of L.F.P.R.
- Unemployment matters only to the person who is unemployed.
- But how many people have stopped asking for anything? Here’s the thing, I don’t care.
- This usually happens when people of working age become frustrated by not getting work.
Types of Unemployment in India
- Disquised Unemployment:- Disguised unemployment refers to a situation where more people are engaged in a task or occupation than actually required. In India, this is often observed in the agricultural sector, where a large number of people work on small plots of land, but the productivity does not increase proportionately. This type of unemployment implies that some workers could be redeployed without affecting overall output.
- Seasonal Unemployment:-Seasonal unemployment occurs when certain industries or occupations are dependent on specific seasons. In agriculture, for example, there may be a demand for labor during planting and harvesting seasons, leading to unemployment during other times. This is common in rural areas of India where agriculture is a significant source of employment.
- Structural Unemployment:- Structural unemployment occurs when there is a mismatch between the skills possessed by the labor force and the requirements of the job market. In India, this can be seen when there is a rapid shift in the economy, such as a move from an agrarian-based economy to a more industrialized or service-oriented one. Workers may lack the necessary skills for the new jobs that are emerging, leading to structural unemployment.
- Cyclical Unemployment:- Cyclical unemployment is linked to the business cycle and economic downturns. During periods of economic recession or contraction, companies may cut down on production, leading to layoffs and job losses. In India, cyclical unemployment can be influenced by global economic conditions, domestic policies, and fluctuations in demand and supply.
- Educated Unemployment:- Educated unemployment occurs when individuals with higher levels of education are unable to find suitable employment. In India, this is a significant concern as the country has witnessed a substantial increase in the number of educated individuals entering the job market, but job opportunities have not expanded at the same rate.
- Technological Unemployment:- Technological unemployment arises when advancements in technology result in the replacement of human labor with machines or automation. In India, as various industries adopt new technologies, there may be a reduction in the demand for certain types of manual labor, leading to technological unemployment..
- Vulnerable Employment:- Vulnerable employment refers to a type of work that is characterized by a lack of job security, low wages, and poor working conditions. Workers in vulnerable employment often face a high risk of income instability and have limited access to social protection mechanisms. This type of employment is prevalent in many developing countries, including India, and is often associated with informal and precarious work arrangements.
- Low Job Security
- Low Wages
- Limited Social Protection
- Informal Work
- Lack of Labor Rights
- Underemployment
These persons are considered unemployed and records are not maintained. This makes him one of the main unemployed people of India
. Practical Question
Question: Disquised Unemployment usually Means.
(a) A large number of people remain unemployed.
(b) Alternative employment not available.
(c) Marginal productivity of labor is zero.
(d) Worker productivity is low.
Source:- https://www.thehindu.com/business/Economy/are-graduates-facing-unemployment/article67676487.ece