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The Cause of Unemployment in Current Market Scenario

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This paper examines the cause of unemployment in India in current market scenario. Government is rightly concerned about creating jobs for youth and rising levels of youth unemployment because of not only direct economic costs but also social issues related problems like as poverty, acid attacks, violence against women on her working place, drugs, labour force, inadequate education planning, inappropriate education system, new-liberal economic policy, various causes of poor placements. This paper also suggests some measure to overcome of these burning problems of unemployment. According to ILO & UN Report the present unemployment rate is 3.5 percent in 2018. The paper also suggests and recommends some points to overcome of this current situation of unemployment prevailing in India.
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The Cause of Unemployment in Current Market Scenario
Rubee Singh*
Department of Management (MBA),
HR Institute of Technology, Ghaziabad, Uttar Pradesh, India
*dr.rubeerajput@gmail.com
Received: 02.01.2018, Accepted: 21.05.2018
Abstract
This paper examines the cause of unemployment in India in current market scenario. Government is rightly
concerned about creating jobs for youth and rising levels of youth unemployment because of not only direct
economic costs but also social issues related problems like as poverty, acid attacks, violence against women on her
working place, drugs, labour force, inadequate education planning, inappropriate education system, new-liberal
economic policy, various causes of poor placements. This paper also suggests some measure to overcome of these
burning problems of unemployment. According to ILO & UN Report the present unemployment rate is 3.5 percent
in 2018. The paper also suggests and recommends some points to overcome of this current situation of
unemployment prevailing in India.
Keywords- Youth Unemployment, Unemployment Rate, Skill Development, Joblessness, Literacy
Introduction
Unemployment is increasing day by day in India, here every people want to a real job in his life but some person is
getting their satisfying jobs. In today time most of companies do not want to spend more time money for training of
fresher. It is the main reasons which decrease the development of the country. When all men and women get their
job then no any problem will be India. India has second largest population in the world after China. India has 17.5
percent population of the world and 1.21 core people according to Indian Census of 2011 (ILO Report 2005).
Present Situation of Unemployment in India
In current scenario, India has around 18.3 million unemployed people in 2017 and 18.6 in 2018. It will remain few
high in 2019 approx 18.9 comparisons than 2017-18 ILO flagship report 2018. In percentage term unemployment
rate is 3.5 in 2018. Labour Minister Mr Santosh Gangawar said in a written in Rajyasabha, on the fears of increase
in unemployment in 2018-2019, that no target has been set by the government (ILO Report, 2004; 2005).
Rural areas have 21.7 % highest unemployment rate comparison than urban areas in India. It is 21.7 per cent at the
age of 15 to 29 year in rural and in urban areas 18 per cent. Including 6 UT and 29 states Tripura has the highest
unemployment rate and Gujarat has least unemployment. In India, Kerala state has has high qomen unemployment i
can say approx 47.4 % compared than men which has approximate (ILO Report, 2004; 2005).
The rates of unemployment in agriculture are falling very rapidly by year to year like as 7.5 % in 2004-2005 and 5.9
% in 2014-2015. In tertiary sector like engineering, medical, laws, rate of employment is higher than primary and
secondary sector. Due to fall of agriculture sector most people of rural areas remain unemployed approx 5 month.
Manufacturing sector has 20.4 per cent total employment (Chandrasekhar et al., 2006).
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Figure 1: Unemployment Rate of India in Percentage (%)
Figure 2: Youth Unemployment Rate of India
Cause of Unemployment
Population Growth: Population growth is day by day increasing in India. India has large youth employment and
unemployment. In my opinion it is both common in all country in whole worlds but in India most people
approximate 68.8 % are belonging from rural areas. And in our defective education system around 70 % students are
belonging from villages. Everyone knows that rural areas people having lack of skills, English language, this is
main reason of youth employment. Mostly people have not any knowledge about stopping the population. It is
affected by the population (Godfrey et al., 2003).
Educated Youth Employment: Due to broad knowledge of the educated youth lack of professional skills, training,
job search ability. They are not getting the right job after giving the interviews. Most students are not able to design
their own resume and to write an application for a particular job (Lam, 2006; GOI, Planning Commission Report,
2010).
Labour Force Participate Rate: Labor force participation rate indicates about the percentage of population who
are already engaged any kinds of works and those who are ready to works (Huggins, 2008).
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Figure 3: Labour force Participation Rates (LFPRs) in India
Figure 4: Labour Force Penetration Rate (LFPR) in India by Age Group (18-29)
Poverty: Poverty is also a main reason for unemployment. There are many people poor in this country. So they do
not have any sources for the study, that’s why they are the backward in the society on the topic of employment
(Pasha, 2003; ILO, 2004; 2005; 2006).
Illiteracy: In our country most people are uneducated they are main dangerous causes for unemployment.
Uneducated people only involve in primary sector in large number and wrong work which very harmful for our
society. They are living without the job which is big problem for them (ILO, 2004; 2005; 2006).
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Figure 5: Work Population Ratio in India by Age Group (Per 1000)
Objectives
• To examine the current scenario of unemployment in India.
• To suggest ways to reduce unemployment.
• To analyze the government initiatives for reducing unemployment
Suggestion
In India, there is all decision should be proper for decrease the unemployment. Government agencies should ensure
for quality of education being provided by institutions. The various policies should merely not to be on papers, these
should reflect through results. This may not be possible until unless there is proper and regular watch on institutions.
An intermediate or graduation level, there should be a counseling facility for students so that they are in a position to
choose the best career option available for students. Parents will also be able to do some justice for willingness of
their wards in identifying better suitable education. Instead of forcing for a particular course, parents must try to find
the interests and caliber of their wards and must help in choosing the best available option for them. Educated
people must follow government good policies which are especially for family planning and control to population.
How to reduce the population from the good campaign is given below. Everyone should have the knowledge for
being the little family; there is the little family always is the happy family.Everyone should do the help, who are
well settled people; they can help to the unemployed people to start the new business. The Placement activities
provided by colleges are not enough. The basic concept of colleges that to be education providers not placement
agencies are to be changed in current market scenario. The government has to make the big employment opportunity
for everyone. There should be done the big industries in the India for developing the country. Then, it will bring the
good work in India. One important thing to build up to investigate passion which is very necessary for all students.
But in today time most of our students lack of passion. Students must have an attitude because everything is comes
from passion (Sundaram and Tendulkar, 2004; UN Report, 2007; 2018).
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Conclusion
• India is a fast growing economy. There are has been enormous improvement in the unemployment scenario
the time. It was recognized as a challenge.
• The wide spread skill development programmers have gained popularity across the nation
• .With better enforcement of the strategies mentioned above, the employment level can be significantly
improved. Unemployment is the grave problem of India. There is lack of work facility among the people.
• The country is not developing just because of the unemployed people. Such system only few people get the
job remains becomes unemployed. Hence, there is the major unemployment problem in India.
• It is seen that around 4-5 years back institutions were not allowed to admit students even up to 45 per cent
of marks means low grade students are admitted in various professional courses. It become utmost difficult
for institutions to develop desired skills up to the level which is required to grab the job in any good
industry.
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... Unemployment is one of the most popular issues in economic development, where every country in this world has made several attempts to address this issue. A remarkable population growth is recognized as one of the main causes of such an unemployment problem, which makes developing countries with huge population vulnerable to this problem (Singh, 2018). The more the population they have, the more job opportunities are needed to keep the unemployment cases at a minimum level. ...
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Article
Full-text available
  • Sep 2023
One of the contributions of the Islamic banking sector to Indonesia’s economy is channeling funds to MSMEs in the form of financing since a number of them could not access financial services. Interestingly, the MSMEs grew as the Islamic Banking sector rose. However, no single study analyzes such an impact on unemployment in both rural and urban areas. This paper aimed to reveal the effect of MSMEs financing in Islamic banks on unemployment in Indonesia. It further aimed to discover such an effect on unemployment in Indonesia's urban and rural areas separately. Dynamic panel GMM two-step analysis is used in this research to estimate cross-province data in Indonesia between 2010 and 2019. The results of the study reveal that MSMEs financing in Islamic Banks contributed significantly to the reduction of unemployment in Indonesia as a whole. It is also found that the unemployment in urban areas is reduced by MSMEs financing in Islamic Banks. 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Hal ini bertujuan untuk mengetahui lebih jauh pengaruh tersebut terhadap pengangguran di daerah perkotaan dan pedesaan secara terpisah di Indonesia. Analisis dua langkah GMM panel dinamis digunakan untuk mengestimasi data lintas provinsi di Indonesia antara tahun 2010 dan 2019. Hasilnya mengungkapkan bahwa pembiayaan UMKM di Bank Syariah berkontribusi signifikan terhadap pengurangan pengangguran di Indonesia secara keseluruhan. Ditemukan juga bahwa pengangguran di perkotaan berkurang dengan pembiayaan UMKM di Bank Syariah. Di sisi lain, tidak ada hubungan yang signifikan antara pembiayaan UMKM di bank syariah dengan pengangguran di pedesaan. Hasil penelitian ini dapat menjadi dasar bagi bank-bank syariah dalam meningkatkan porsi pembiayaan UMKM dan dasar bagi pemerintah untuk memperluas peran perbankan syariah di seluruh bagian Indonesia untuk mengurangi pengangguran, khususnya di area pedesaan. Kata Kunci: Pembiayaan UMKM, Bank Syariah, Pengangguran, Perkotaan, Pedesaan. 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  • Feb 2023
Green supply chain management (GSCM) has witnessed growing interest in recent times. However, most related studies are conceptual in nature and not sufficiently grounded in management theory. This forms the motivation for the present work where GSCM is sought to be analyzed and interpreted through the perspectives of different theoretical lenses. The focus is on the UAE construction sector, which accounts for roughly 30-40% of global greenhouse gas emissions and is complex due to interdependent activities across multiple stakeholders. Semi-structured interviews were conducted with all the key supply chain stakeholders along with supporting company documentation such as annual reports and departmental publications. The findings were interpreted through established (stakeholder theory, institutional theory, and resource-based-view) and emerging management theories (strategic choice theory, resource-dependence theory, complexity theory and legitimacy theory) from other disciplines. Very few GSCM studies in construction or other sectors have used management theories to explain the findings and this study contributes to that. The explanatory and predictive capability of theories used in this study will provide practitioners with a deeper conceptualization of GSCM perspectives beyond the individual issues in the supply chain. 85
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A Critical Review of Industry 4.0's Digital Transformation with New Trend of Visual Brand Communication through Experiential Engagement
Chapter
Full-text available
  • Feb 2023
In the information era, leveraging the power of the internet of things and knowledge elements, the customer comes to the purchasing table well prepared. The brands are challenged to upkeep the customer requirements and create delight. There is a lot of buzz on how content marketing can influence target customer groups. This chapter provides a perspective of the fuelling rise of visual communication strategies adopted by brands in creating experiential engagement. A glimpse into the cosmetic brands' digital engagement perspective is presented. There is presently a lack of content-focused research on the application of these Industry 4.0 cutting-edge technologies in environmentally friendly production. To clarify how these revolutionary technologies could affect the economic, social, and environmental aspects of the manufacturing industries, a thorough literature review was done.
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The 'Demographic Dividend' and Young India's Economic Future
Article
Full-text available
  • Jan 2006
  • Econ Polit Wkly
Declining fertility rates have changed the age structure of India's population, resulting in a "bulge" in the working age-group. This "demographic dividend" has improved the dependency ratio leading to the hypothesis that the bulge in working population will lead to an acceleration in growth. However, recent employment figures indicate that the absorption of the Indian youth into the labour force is not as high as one would expect. This is perhaps due to the poor employability of the workforce, which is severely affected by a deficit in educational attainment and health. This needs to be remedied in order to take advantage of the opportunity for growth that the demographic dividend is supposed to give India.
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1 Revised Draft Youth Employment Policy in Developing and Transition Countries – Prevention as well as Cure
Article
  • Oct 2011
The structure of the paper is as follows. Section A proposes that the starting point for policy discussion should be the employment problems of those young people in developing and transition countries who are at the greatest disadvantage, rather than merely those who are unemployed. In section B, as a framework for policy formulation, it is suggested that the position and potential in the labor market of the disadvantaged young depends partly on the strength and dynamism of the demand for labor in general and partly on the extent to which they are able to integrate into economic processes so that, when the demand for labor increases, they can take advantage of the greater scope for improving the quality and quantity of their employment. Section C (the longest section) reviews the youth employment policies and programs that have been implemented in developing and transition countries, with headings derived from the analytical framework of section B: 1. increasing the demand for labor in general in relation to supply; 2. increasing the integrability of the disadvantaged young by: (a) remedying or counteracting market failure, including; i) labor market failure; ii) credit market failure; iii) location-related market failure; and iv) training systems failure; (b) optimizing labor market regulations; (c) improving the skills of disadvantaged youth, including i) literacy and numeracy; ii) vocational skills. Section D briefly outlines the policy measures needed to deal with the problem of educated unemployment - not the fundamental youth employment problem but one which is of understandable concern to governments. Section E sets out the key data needs for diagnosis and monitoring of the employment problems of disadvantaged youth, including a minimum format of data that should be routinely available. Finally, in Section F, the threads of the policy discussion are pulled together into a set of policies that can help to prevent the emergence ofemployment problems among the disadvantaged young in developing and transition countries.
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Youth Business International: Bridging the gap between Unemployment and Selfemployment for Disadvantaged Youth. ILO Skills Working Geneva: International Labour Organisation
  • Jan 2002
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Chamber, R., Lake, A. 2002. Youth Business International: Bridging the gap between Unemployment and Selfemployment for Disadvantaged Youth. ILO Skills Working Geneva: International Labour Organisation. Paper No.
Youth Labour Markets in Indonesia. The Philippines and Thailand, Mimeo
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Higgins, N. 2008. Youth Labour Markets in Indonesia. The Philippines and Thailand, Mimeo, University of Salerno.
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Rao, C.H.H. 2005. Agriculture, Food security, Poverty and Environment. Oxford University Press, New Delhi.
Guide for the Preparation of National Action Plans on Youth Employment
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Rosas, G., Giovanna, R. 2005. Guide for the Preparation of National Action Plans on Youth Employment. Geneva: International Labour Organization.
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Shetty, S.L. 2003. Credit Flows to Rural Poor (mimeo), Mumbai: EPW Research Foundation, ILO, New Delhi.
The Poor in the Indian Labour Force: Scenario in the 1990's. Economic and Political Weekly
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