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27th March 2024 (11 Topics)

India Employment Report 2024

Context

The International Labour Organisation (ILO) released its latest report on India and has said that India is poised to reap a demographic dividend but challenges related to youth unemployment persist.

Key-highlights of the Report

  • Report Title: India Employment Report 2024
  • India's youth was 27% of the population in 2021 and this number is set to decline to 21% by 2036, and each year 7-8 million youth are added to the workforce.
  • Vulnerable occupation: Youth employment in India is by and larger of poorer quality than employment for adults, with employed youth being much more likely in vulnerable occupations or informal sectors.
  • Youth wages and earnings have increased with age but are lower than what they are for adults for all categories of employment.
  • Poor condition of work: There has been only a marginal gap between youth earnings from wage employment and self-employment, indicating poor conditions of work.
  • Highest unemployment among graduates: The highest youth unemployment rates are among those with a graduate degree and higher among women than men.
  • Women not in employment, education or training amounted to a proportion nearly five times larger than among their male counterparts (48.4% versus 9.8%) and accounted for around 95% of the total youth population not in employment, education or training in 2022.

1: Dimension-Disruptive Factors

  • Fast-changing technological advancements: There are increasing uncertainties in the labour market due to fast-changing technologies, including artificial intelligence (AI).
  • Demographic dividend: India remains poised to reap a demographic dividend for at least another decade due to the youth population remaining at 23 per cent of the total in 2036 from 27 per cent in 2021.
  • Temporary Jobs: Digital platforms and the gig economy are creating many new jobs, but these jobs are largely temporary, informal, and non-standard work.
  • Algorithmic management: On the gig and platform economy front, autonomy and flexibility are non-existent due to algorithmic management and control as the subjective and unfair nature of ratings used through the algorithmic management in these platforms also creates difficulties.

2: Required Measures

  • Labour-intensive manufacturing employment: The report calls for primacy to be given to labour-intensive manufacturing employment to absorb the abundant unskilled labour, along with the emerging employment-generating modern manufacturing and services sectors, with a direct and greater focus on micro, small and medium-sized enterprises by providing a more supportive and decentralised approach.
  • Green investment: It also highlights investment in the green (environment-friendly) and blue (based on ocean resources) economies, developing rural infrastructure.
  • Revival of employment in rural areas: There is a need for establishing an integrated market to revive employment in the farm and non-farm sectors in rural areas.
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