Unemployment

 Creating new jobs is a crucial task and plays an important role in the economy. The economic crises has become a social crises for most countries leading to a high unemployment rate. Unemployment is a state when people have the potential and ability to work and earn but finds no remunerative work. Unemployment is a very serious issue not only in India but in the whole world. There are hundreds and thousands of people out there who do not have employment. Besides, the problems of unemployment are very severe in India because of the growing population and demand for jobs. Moreover, if we neglect this problem then it will be going to become the reason for the doom of the nation.Unemployment means the numbers of individuals in the state are finding jobs for which they are fit, and they are willing too, but not getting that . Or simply a person is willing for a paid job or searching for one . It is a curse to the society and decreases the economic growth of the country .The particular age group of unemployment is almost 15 to 64.Rapidly increasing population is one of the most affecting factors of unemployment. Unemployment, thus causes disillusionment, frustration and dissatisfaction. This gives rise to cynicism and dissipates the energy of the youth in destructive directions. Thus, they resort to crime, violence, anti-social activities or even worse they try to take a short cut to achieve the much sought after social status. This explains the number of bank robberies, online money/financial frauds etc. Even suicidal tendencies are on a rise due to social humiliation and deprivation.

The recent trillion dollar meltdown of US, the Eurozone crises have changed the economic landscape of the world. Many developed countries that were doing well, suddenly are grappling with pilling debt, a banking crises and a slowdown. So, unemployment which is bothering India, is infact a global issue effecting lots of countries together. During the COVID-19 pandemic, the focus on the unemployment rate has been subject to debate, with many scholars and even the Federal Reserve considering a more inclusive and comprehensive analysis of the economy. This analysis is not new but is gaining more credibility, policymakers must consider how this approach can inform their efforts to support all labour market participants. Government should set-up their efforts to support skill and retraining activities to address the gaps between demand and supply of work skills and qualifications. The country needs to take a serious look at its present scenario and think of some serious remedial measures to face the mammoth problem of unemployment. If things will go on like the current scenario then unemployment will become a major issue. Apart from this, the following things happen in an economy which is an increase in poverty, an increase in crime rate, exploitation of labour, political instability, mental health, and loss of skills. As a result, all this will eventually lead to the demise of the nation.

The various types of unemployment include disguised unemployment, seasonal unemployment, open unemployment, technological unemployment, structural unemployment. Besides, some other unemployment is cyclic unemployment, educated unemployment, underemployment, frictional unemployment, chronic unemployment, and casual unemployment. The most accepted classification of Unemployment recognizes two broad classes: Voluntary and Involuntary Unemployment. In Voluntary Unemployment – It arises when an individual is not under any employment out of his desire, not to work. And inInvoluntary Unemployment – It encircles all those factors that prevent a physically fit individual willing to work from getting an appointment. Involuntary Unemployment is further categorized such as Structural,Regional, Seasonal, Technological ,Frictional ,Educated ,Casual ,Cyclical,Disguised .

The reason for unemployment are In a country like India, there is much reason for a large section of the population for being unemployed. Some of these factors are population growth, slow economic growth, seasonal occupation, slow growth of the economic sector, and fall in the cottage industry . Moreover, these are the major reason for unemployment in India. Also, the situation has become so drastic that highly educated people are ready to do the job of a sweeper. Besides, the government is not doing his work seriously. The use of technology is not very popular in India unless agriculture is modernized with the latest scientific methods; it cannot provide bread and butter to all the rural youth . They will continue to seek employment outside the bounds of their hereditary profession .The women’s unemployment rate is higher in rural areas than in urban sectors of the country . Experts fear that at present, India is experiencing a jobless growth with not enough jobs being created for its working age (15-64 years) population.

Causes of Unemployment The root of the problem can be traced to a host of reasons that contributes collectively to this problem. Economic Growth,Education , Population Growth ,Faulty Employment ,The Drawback of Agriculture Infrastructure , Slow Industrialization , Immobility of Labour

Solution For the Reduction of Unemployment is Collective efforts directed by the Government as well as citizens towards the following points might help decrease the problem of unemployment in the country. Increased Industrialization – One of the most sure-shot remedies of the unemployment situation in India is rapid industrialization. Emphasis on Vocational and Technical Training – The curriculum pursued in universities should be altered to focus more on practical aspects of learning. Encouraging Self-employment – Self-employment should be encouraged more with the introduction of liability-free loans and government assistance for funding. Improved Infrastructure in Agriculture

-Time has come for the entire agricultural infrastructure in the country to undergo a severe overhaul. Inviting Larger Capital Investments 

-Although India’s economic market is seeing increased investments from overseas (Foreign) investors owing to its cheap labour costs. Focused Policy Implementation – Subsequent policies have focused on issues like poverty and unemployment, but the implementation leaves a lot to be desired. Schemes like Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and Rajiv Gandhi Swavlamban Rozgar yojna are examples of the initiatives that the government has undertaken to address the unemployment problem in India.