42% youth under 25 years of age unemployed

Unemployment in India: The first report of RBI shows that people’s savings have fallen to a 50-year low and people are burdened with debt. Now a report has come out regarding unemployment in the country which is worrying. According to a report, 42.3 percent of young graduates under 25 years of age in the country are unemployed. The unemployment rate in the country was 8.8 percent in 2019-20, which has decreased to 7.5 percent in 2020-21 and to 6.6 percent in the financial year 2022-23. But the unemployment rate has increased among educated youth.
This information has been revealed by quoting Azim Premji University’s State of Working India 2023. According to the report, the highest unemployment rate of 22.8 percent is among the youth between 25 to 29 years. The unemployment rate among youth below 25 years of age with higher secondary education is 21.4 percent, which is the highest. The unemployment rate among graduates aged 35 and above is less than five percent. While the unemployment rate among graduates aged 40 and above is only 1.6 percent.
According to the report, the unemployment rate among uneducated youth below 25 years of age has been seen at 13.5 percent. Whereas the unemployment rate in the illiterate group of 40 years and above is 2.4 percent. This report of Azim Premji University is based on government data. This report has been prepared on the basis of official data like NSO’s Employment-Unemployment Survey, Labor Work Force Survey, National Family Health Survey, Annual Survey of Industries, Population Census. A special survey called India Working Survey has also been conducted in rural areas of Karnataka and Rajasthan.
The report said that even though the unemployment rate has decreased in the country, the income level has remained stable. According to the report, women’s income had started declining even before the Corona epidemic. Since 2004, the female employment rate has either been declining or remained stable. Women’s employment has increased since 2019. A large number of women have taken up self-employment during the pandemic. Before the Corona pandemic, 50 percent of women were self-employed and after the pandemic, this figure has increased to 60 percent.