Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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The India Employment Report 2024, a joint publication by the Institute for Human Development and the International Labour Organization (ILO), focuses on youth employment challenges in the context of India’s evolving economic and labor market landscape.
- Overall Improvement: The report highlights an improvement in labor force participation rates. The report states a 5 percentage point increase in labor force participation over the past two decades (2004-2024). However, it cautions against interpreting this solely as positive.
- Concerns Remain: Despite the improvement, employment quality in India remains a concern. The report indicates that nearly 20% of employed youth fall under the category of poor-quality employment, characterized by low wages, lack of social security benefits, and informal work arrangements. Additionally, the report finds that over 30% of young women are engaged in unpaid family work, compared to less than 10% of young men.
- Skill Gap: The report emphasizes the widening gap between the skills demanded by the job market and the skills possessed by the workforce, particularly young people. The report cites a study by a leading management consultancy which estimates that around 40% of India’s workforce lacks the skills required for jobs in the growing sectors of the economy.
