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India is crippling, Highest rate of unemployment in country in the last 20 years: Report

Indian youths struggle to get a job and that’s the reality. Even if they are seen working in some companies, their work standards are of poor quality. Millions of students study in different colleges with intentions to get a good job. But the reality is that there are a majority of degree holders when compared to the ones who are doing decent jobs in India.

But this is nothing new as the problem has been there for a long time. Not a long ago, the nation witnessed a growing trend where overqualified candidates have been applying for posts of ‘peons’ and ‘constables’ which reflected a reality of the current unemployment situation in India.

Credits: House of Bots

A recent report released by the Azim Premji University found that salaries in most sectors in India have been increasing at an inflation-adjusted rate of 3% annually for the last 15 years, a majority of the working population still earns less than the minimum salary recommended by the Seventh Pay Commission.

Captioned ‘State of working India’, the report added that 82% of male and 92% of female workers earn less than Rs 10,000 a month. “If you earn more than Rs 50,000 a month, you are in the top 1% of the [national] work-force [by earnings],” said Amit Basole lead author of the report and faculty at the Azim Premji University.

Also read: Big Numbers: 93,000 candidates including 3,700 PhD holders apply for peon job

The report also learnt that the unemployment rate among the educated youth has reached 16%, which is the highest in recent times. “Because of a rise in education, the youth is willing to hold-out for an employment opportunity that they think is commensurate to their education,” said Basole.

The shocking truth of unemployment in India:

As per the report by Quartz India, there are around 17 million people in India coming into the workforce every year, but sadly only 5.5 million jobs are being created for them. This clearly shows the ugly face of unemployment.

One more shocking report revealed that people with educational qualifications like M.Tech, B.Tech, and MBA, postgraduates including the graduates have applied for posts of ‘sweepers and sanitary workers’ in the Tamil Nadu Assembly Secretariat.

Written by Mrityunjay Chaubey

Mrityunjay Chaubey is a co-founder of TheYouth. He hails from Indore. Before The Youth, He has worked for Indian Defence News as a columnist.

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