The natural rate of unemployment among the youth can be higher than the overall natural rate. But the actual numbers are staggering in India. A little less than one-third of graduates are unemployed, and the unemployment rate for those with secondary or higher education is nearly one in five. Why this state of affairs, and what can be done about it? Both the supply side and the demand side in the job market are important. However, the focus here is, unless otherwise specified, on the demand for jobs.
Many young people are looking for jobs, but this is actually just notional demand for jobs, even though the job seekers are serious.
It is only the demand backed by proper skills, education, or some signal for potential contribution in the future that constitutes the effective demand for jobs. It turns out that such demand for jobs is actually not very high. The reason is straightforward. A reasonably good quality of education is meaningfully available to only a limited proportion of students. And, many employers, in various ways, offer jobs to these good candidates. The problem lies elsewhere.
Denne historien er fra June 11, 2024-utgaven av Business Standard.
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Denne historien er fra June 11, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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India on top of luxury firms' 'watch' list
Country's appetite for premium watches grows as China sees a downturn
Brand Maggi stronger than ever as Nestlé India gears up for new leader
Nothing has presented \"two minutes\" as tastefully as Maggi since its entry into India over four decades ago.
BURNING ISSUE
Minimum support price has been a bone of contention between the farmers in Punjab and the state and Centre
Missing funds went to legitimate purpose, says Byju's founder
The founder of Byju's, a once high-flying Indian education company that defaulted on its US debts, denied that he orchestrated a scheme to fraudulently transfer $533 million away from lenders.
97% rail electrification done
Indian Railways has completed electrification of 96.68 per cent of its broad gauge network, as it moved swiftly to become fully-electrified by 2024-25. Six more states now have 100 per cent electrified networks, taking the number of such states to 20, according to the national transporter's data.
Fortified rice supply, border roads get ₹21K cr Cabinet push
2,280 km roads to be built in Rajasthan, Punjab border areas
More upside in Zomato's stock, but competition also rising
The filing of Swiggy's DRHP has led to direct comparisons with Zomato, which is a direct competitor in food delivery and the fast-growing quick-commerce segment where Blinkit (owned by Zomato) faces off against Instamart (and Zepto).
No irregularities found in Sebi probe: Zee panel
The Independent Investigation Committee (IIC), set up by the board of Zee Entertainment Enterprises Limited, said that \"no material irregularities\" were found against the company during the investigation by the securities regulator, it said in a release on Wednesday.
India set to join FTSE Russell bond index next year
South Korean bonds to be added to FTSE World Government Bond Index
Mkts erase gains amid sustained FPI selling
India's benchmark indices made positive strides for the second consecutive session on Wednesday, but sustained selling by overseas investors saw them erase their gains.
