Out of 6.3 crore graduates workforce in India, around 94 lakhs are willing to work and are actively searching for a job, but are unsuccessful in grabbing one.
The more you study, the higher the chances of you ending up without a job, going by the recent trends. At least this is what India’s employment data shows in most of the reports. Educated graduates suffer the most in a bad employment situation in the country. The unemployment rate among those who have not passed Class 10 is up to 4 per cent while that among graduates is 15 per cent, according to CMIE. Out of 6.3 crore graduates workforce in India, around 94 lakhs are willing to work and are actively searching for a job, but are unsuccessful in grabbing one.
One of the major reasons why the unemployment rate in the country among educated class is higher is that the job shrinkage in other avenues has made the less skilled manpower to revert to their farmlands and claim that they are employed in agricultural activities, whereas the graduates hardly have this option.
Even apart from the agriculture sector, almost all the sectors have low-skill jobs, with the maximum in construction sector. “The share of low-skilled jobs in total jobs is over 70 per cent and the share of these jobs in the total employment has also been creeping up. In the first eight months of 2019, it was higher at 73 per cent,” wrote Mahesh Vyas, MD & CEO, CMIE. These low-skill jobs saw an increase of over 70 lakh during May-August 2019.
Also, the job crisis is mostly affecting the youth. Unemployment among job seekers of age less than 24 years stood as high as 45 per cent, according to the report. A bitter employment figure is also the aftereffect of the economic slowdown. Many sectors of the country including automotive, construction, and textiles are undergoing a period of slowdown which has also hit the employees working in those areas. In the absence of specific expertise in low skilled manpower, they can easily switch the source of their earnings but the specialised manpower has to wait for the appropriate opportunity to be able to be absorbed.