India's rate of unemployment doubled in the past two years, reveals a new report, "State of India’s Environment (SoE) In Figures, 2019", released by Delhi-based non-profit Centre for Science and Environment (CSE) on World Environment Day. This has particularly affected young graduates, it says.
According to the report, the unemployment rate has gone up from four per cent to 7.6 in the last two years (May 2017-April 2019). The unemployment rate in April 2019 was the highest in two years, it says, adding, the rate for rural areas in this month was also the highest in this period.
According to the report, the youth (between 20-24 years), who constitute around 40 per cent of India's labour force, have an unemployment rate of 32 per cent. The unemployment rate among the educated is even worse. The rate among people with at least a graduate degree was 13.17 per cent in September-December 2018, up from 10.39 per cent in May-August 2017.
In 2017, says the report, a major cause for high unemployment rates in India is the lack of skills required for jobs that are available. This is worrying because India is a young country — home to 20 per cent of the world's young population — and a major portion of this young workforce, though educated, is unskilled, it adds.
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