Unemployment is a very serious issue not only in India but in the whole world. There are hundreds and thousands of people out there who do not have employment. Besides, the problems of unemployment are very severe in India because of the growing population and demand for jobs. Moreover, if we neglect this problem then it will be going to become the reason for the doom of the nation.Youth unemployment can lead to social exclusion and unrest. Investing in decent job creation however, as well as in education and training opportunities for the youth, will help them find their place and contribute to more prosperous and stable societies.
Unemployment is a common economic malady faced by each and every country of the world, irrespective of their economic system and the level of development achieved. But the nature of unemployment prevailing in underdeveloped or developing countries sharply differs to that of developed countries of the world.While the developed countries are facing unemployment, mostly of Keynesian involuntary and frictional types but the underdeveloped or developing countries like India are facing structural unemployment arising from high rate of growth of population and slow economic growth.
621 million young people aged 15-24 years old are not in education, employment or training*.75 million young people are trained but have no job.In the next decade, one billion young people will enter the labour market, and large numbers of young people face a future of irregular and informal employment.Almost 90% of all young people live in developing countries.Youth are approximately three times more likely to be unemployed than adults (2.7).The International Labour Organization (ILO) estimates that the global youth unemployment rate is expected to reach 13.1% in 2016 (71 million young people) and remain at that level through to 2017 (up from 12.9% in 2015).It is estimated that 23% of young people currently employed in the world earn less than $1.25US a day**.
In a country like India, there is much reason for a large section of the population for being unemployed. Some of these factors are population growth, slow economic growth, seasonal occupation, slow growth of the economic sector, and fall in the cottage industry.
Moreover, these are the major reason for unemployment in India. Also, the situation has become so drastic that highly educated people are ready to do the job of a sweeper. Besides, the government is not doing his work seriously.Apart from all these, a large portion of the population is engaged in the agricultural sector and the sector only provides employment in harvest or plantation time.In addition, the biggest reason of unemployment in India is its vast population which demands a large number of jobs every year which the government and authorities are unable to provide.
The government has taken the problem very seriously and have taken measures to slowly reduce unemployment. Some of these schemes includes IRDP (Integrated Rural Development Programme), DPAP (Drought Prone Area Programme), Jawahar Rozgar Yojana, Employment Assurance Scheme, NRY (Nehru Rozgar Yojana), Training for self-Employment, PMIUPEP (Prime Minister’s Integrated Urban Poverty Eradication Program), employment exchange, Employment Guarantee Scheme, development of organized sector, small and cottage industries, employment in forging countries, and Jawahar Gram Samridhi Yojana and few more.
India is one of those ill-fated underdeveloped countries which is suffering from a huge unemployment problem. But the unemployment problem in India is not the result of deficiency of effective demand in Keynesian term but a product of shortage of capital equipment’s and other complementary resources accompanied by high rate of growth of population.