India's Economic Boom Fails to Solve Job Crisis
- Hundreds of young men and women in Lucknow queue at a job fair for low-paying contract jobs. - Despite investments, India's economic boom isn't creating enough quality jobs for millions entering the workforce. - Prime Minister Modi's job creation promises have fallen short, with youth unemployment at 42.8% for ages 20-24. - The informal sector employs 90% of India's workforce, offering little job security or benefits. - Female labor force participation remains low at 33%, with societal views holding women back. Source: [Bloomberg](https://www.bloomberg.com/news/features/2024-09-05/india-s-unemployment-rate-presents-challenge-to-modi-s-ambitions-for-economy)
Qwerty2398
Stealth
13 days ago
We have the universal cure. Introduce reservations. from Now on, 70% of the formal jobs will be based on caste based reservations.
This whole "Quality jobs" is the problem. Our society views only White collar jobs as quality jobs. A carpenter, plumbers or electricians will be counted as part of the informal jobs.
In a society where only Government jobs, Tech jobs and office jobs are considered good, we can keep creating such nice graphs. formal employment is counted as jobs that provide PF, ESI. Even today there are shops and small business where people work for years, even decades. They dont get fired like what happens in tech jobs. But they will not be counted as formal employment.
Female participation is 33%..why? because we are a 1.3 Billion people country. for every job there is enough men waiting to be hired. in the west people are less, women entering job market helped to tide of manpower shortage. why would that standard work in india?
This ILO and its survey is as good as flyovers in Bangalore.
Droughtbear
Student
13 days ago
Great points in the last point 👌
