As in the current year, joblessness has a deep concern regarding the young youth. A big controversy has erupted over the creation of a job in the previous years. As per the CMIE data, the report showed that the unemployment rate in Feb 2019 was 7.2% which was worst as compared to the last 45 years.
Joblessness is one of the major economic problem i.e. related to unemployment. This is a very serious issue in India. Each and every person is suffering from the problem of joblessness in the world.
The issue of joblessness leads to slackness in the performance of the people due to which the individuals are not able to show their talent in front of anyone. The joblessness is not only an obstacle for economic growth but also has negative repercussions on the individual as well as on society as a whole.
According to the report it was stated that the estimated youth unemployment rate is almost three times the overall rate of unemployment i.e. 4 out of every 10 unemployed persons globally are young people.
There could be various reasons due to which people are not working or they are unable to get a job. Following are the reasons:-
- Slow industrial growth
- Focus more on theoretical knowledge as compared to practical
- Lack of thinking skill
- High population
- Insufficient employment creation
A few days ago, when talking to the assembled chief ministers of India’s states, Prime Minister Narendra Modi declared that he wanted India to be a “$5 trillion economy” by 2024. This would, he said, be “challenging, but achievable.”
The fact is that getting India’s GDP to $5 trillion in five years will be far more challenging than achievable. India is, currently, a $2.8 trillion economy; to reach the $5 trillion mark by 2024, the economy would require nominal growth in dollar terms of over 12% a year. For this, the government should focus on SME and MSME i.e. (Small-to-medium-enterprise) and (Micro Small Medium Enterprises).
Economic conditions for youth are worse than before. At the beginning of business life, youth have to fight against challenging work conditions but they can make great contributions to economies locally and globally. When the economy cannot create new jobs, the youth will be the most affected group.
Joblessness is the curse to society. As this problem needs the full attention of the government so that all the citizens get the job opportunity. This is the biggest barrier that there is a lack number of vacancies in major sectors of the company.
So special attention must be put to youth when policy regulation is evaluated. Young persons are vulnerable because of inadequate work experience, low social capital, less distinctive company-specific knowledge, fewer years of service and the resulting low redundancy payments.
Youth is of primary importance but can’t be always used effectively. If its productive capacity is applied to industries, economies can develop more quickly. Otherwise, there can be a partial loss of human capital
Another biggest cause of joblessness is that the population i.e. is increasing day by day. People are unable to get a job due to which they are migrating from one place to another so that they can settle their livelihood with earning income. In many cases, people compromise their salary if there is an urgent need for them.
The youth unemployment problem highly depends on the general unemployment level. Improving macroeconomic conditions makes the greatest contribution to creating new jobs. In order to solve the unemployment issue, policies must be focused on the sectors with high employment potential sectors such as tourism, wholesale and retail trade, manufacturing, hotels, and restaurants.
The problem of joblessness should be given very much focus so that solutions can be developed. As there are some points that can help the youth to overcome the problem.
- The education system and the quality of education should be improved, there should be more focus on practical knowledge instead of theoretical knowledge.
- There should be developed in rural areas so that the people do not migrate from here and can fulfill their needs easily.
So the government should take such steps for the development of the country i.e. the development of the country would result in more number of jobs that lead to complete success for the people. Now this is time for the people of India to unite and overcome the problem of joblessness
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