India Employment Report 2024: ILO
The Institute for Human Development (IHD) and International Labour Organisation (ILO) have released a report titled- ‘India Employment Report 2024’, which highlights that India’s youth continue to grapple with soaring Unemployment rates.
Highlights of the Report:
- India’s youth account for almost 83% of the unemployed workforce and the share of youngsters with secondary or higher education in the total unemployed has almost doubled from 35.2% in 2000 to 65.7% in 2022.
- Youth employment and underemployment surged between 2000 and 2019, with educated youths experiencing significantly higher levels of joblessness.
- The Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR) and the Unemployment Rate (UR) showed a long-term deterioration between 2000 and 2018 but witnessed an improvement after 2019.
- Overall, wages have remained low. As much as 62% of the unskilled casual agricultural workers and 70% of such workers in the construction sector at the all-India level did not receive the prescribed daily minimum wages in 2022.
- India is expected to have a migration rate of around 40% in 2030 and will have an urban population of around 607 million.
- The bulk of this increase in urban growth will come from migration.
- The pattern of migration also shows regional imbalance in the labour markets.
- The direction of migration in general is from eastern, north-eastern and central regions to southern, western and northern regions.
