Unemployment

Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is persons above a specified age (usually 15)not being in paid employment or self-employment but currently available for work during the reference period.


Unemployment rate, 2017
Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed).

Unemployment can have many sources, such as the following:

new technologies and inventions
the status of the economy, which can be influenced by a recession
competition caused by globalization and international trade
policies of the government
regulation and market
Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can influence the availability and cost for money through its monetary policy.

In addition to theories of unemployment, a few categorisations of unemployment are used for more precisely modelling the effects of unemployment within the economic system. Some of the main types of unemployment include structural unemployment, frictional unemployment, cyclical unemployment, involuntary unemployment and classical unemployment. Structural unemployment focuses on foundational problems in the economy and inefficiencies inherent in labor markets, including a mismatch between the supply and demand of laborers with necessary skill sets. Structural arguments emphasize causes and solutions related to disruptive technologies and globalization. Discussions of frictional unemployment focus on voluntary decisions to work based on individuals’ valuation of their own work and how that compares to current wage rates added to the time and effort required to find a job. Causes and solutions for frictional unemployment often address job entry threshold and wage rates.

According to the UN’s International Labour Organization (ILO), there were 172 million people worldwide (or 5% of the reported global workforce) without work in 2018.

Because of the difficulty in measuring the unemployment rate by, for example, using surveys (as in the United States) or through registered unemployed citizens (as in some European countries), statistical figures such as the employment-to-population ratio might be more suitable for evaluating the status of the workforce and the economy if they were based on people who are registered, for example, as taxpayers.

How can more job opportunities be created in India?

With the increase in population through these years in India, the unemployment rate has taken a massive hike. While the government fails to create more and more job opportunities, the talented lot of our country continues to move to foreign countries in search of better job opportunities, a better pay and a better lifestyle overall. But how can we try to fix this problem?

The first field on which we shall focus for more job creations and greater productivity is of course-

1. Awareness. Most of the people in the rural areas have immense talent but these areas lack a medium of awareness. The main source of distribution of the awareness and developement is done through television. But most of the people of the rural areas don’t have TVs at home, so I propose the government does it through pamphlets and banners. The government can also set up a small committee in every district to recruit people from a village who are capable enough to send them for higher education. For this purpose, funds can be raised by the village or by the government. The testing for this would be done by many practical and psychometric tests.

2. Education- The schools and especially government schools should have a curriculum where they focus on practical studies equivalently. They should be given more case studies and be made aware of the upcoming opportunities and internships. The quality and focus of studies in government schools too require a lot of improvement.

3. A lot of India’s best talent is immigrating to countries like the US, UK, etc. because of better pay and lifestyle. Here, I propose the government increase the pay scale for projects and reduce corruption, plus they should also keep a strict check on the project deadline.

4. India should impose stricter laws on multinational companies investing in India so that the unskilled labor force can work there and gain experience without the fear of exploitation.

5. Investment in better technology and infrastructure- Investing in technology is a massive multiplier. It will lead to the creation of many prestigious and well-paying jobs.

6. Encouraging tax free start ups, not just in metros but also in villages can help to a lot of extent. Even farming sector can be “corporatised” with the use of technology in produce , supply chain, research, survey and so on and this needs the effective use of technology.

Whereas, infrastructural reforms will lead to more people being employed in the sector and hence, more job creations. Better infrastructure will also attract more tourists while can serve as a means of a improved lifestyle for geeral shopkeepers.

Personally, I feel that the development of ‘skills’ in the Indian youth can only be engraved through a curriculum that focuses on practice and working of the brains and not only cramming. We need disposable income to spend, for which we need a strong growing economy which is the responsibility of the government. The programs of the government need to include classes on this issue even outside of school (and even online).

Unemployment

Unemployment is a serious problem faced today by India. Nearly 50% of educated youth are yet to find suitable jobs. Even those who are employed in agriculture in rural areas are only partly employed as they are unemployed for many months in a year. This is due to an economic problem.

With our society getting more and more money-oriented, it is obvious that everyone runs after money, as this will bring power to the trail. In the past, acquiring wealth was just to maintain a good and respectable standard of life, but today money and only money is sought for, it is the only thing that is respected, the only thing that is loved and the only thing that can buy anything at all-a strong power in itself money has become. To fulfill all the necessities employment first needs. Many reasons could be given for this unemployment and under-employment. The first reason is an explosion of population. The natural resources, the land, and means are the same. The population has almost increased. The second is modern industrial policies have turned all the people to migrate into countries and cities and towns to work. And also the manpower resources are not planned according to the needs of the next decade. The third is the unsuitable educational system. those who come out of schools and colleges should be known the value of white-collared jobs as well as blue-collared jobs. Blue collared jobs are also known for their self-confidence and also one should know the dignity of laborers. This lacks the mental ability and the manual skill to take up a productive job. Education must be job-oriented. The disparity in pay and salary exists, where a man who does manual work and another who does mental work are equal in the matter of needs. Unless the income disparity is reduced, people look up manual jobs.
This lockdown, Covid-19 has created lots of losses and disasters for all the self-employment peoples, and the private and the government agents are also under pressure. Numerous people have also lost their jobs. In today’s technology developmental world, we are open up to various fields to showcase our talents and experiences and explore some sort of new things to the whole world by all the social media platforms to make it wisely and earn it happily, this lockdown has taught this to every nook and corner persons all over the world, right from young people to all the old age people.

Apart from this, people also create themselves, like weaving, embroidery, food preservation, homemade packing, and marketing, etc., could also be taught that this also better employment. Self-confidence should be restored in youth and those capable should be allowed to help themselves in the field and also give hands to uplift every possible soul. Unemployment creates a lot of depression, stress, and pressure for everyone and it leads to mental illness. Although the government is doing its best to solve the problem of everything.Hope to be strong through tough times, and be there for each other in these hardest battles.

Poverty

Poverty refers to a situation in which a person remain underprivileged from the basic necessities of life. In addition, the person does not have an inadequate supply of food, shelter, and clothes. In India, most of the people who are suffering from poverty cannot afford to pay for a single meal a day. Also, they sleep on the roadside; wear dirty old clothes. In addition, they do not get proper healthy and nutritious food, neither medicine nor any other necessary thing.

The rate of poverty in India is increasing because of the increase in the urban population. The rural people are migrating to cities to find better employment. Most of these people find an underpaid job or an activity that pays only for their food. Most importantly, around crores of urban people are below the poverty line and many of the people are on the borderline of poverty.

Furthermore, there are many reasons that we can say are the major cause of poverty in India. These causes include corruption, growing population, poor agriculture,the wide gap of rich and poor, old customs, illiteracy, unemployment and few more.

the rich are growing richer and the poor are getting poorer creating an economic gap that is difficult to fill up.

Poverty has various effects that include illiteracy, reduced nutrition and diet, poor housing, child labor, unemployment, poor hygiene and lifestyle, and feminization of poverty, etc. Besides, this poor people cannot afford a healthy and balanced diet, nice clothes, proper education, a stable and clean house, etc. because all these facilities require money and they don’t even have money to feed two meals a day then how can they afford to pay for these facilities.

illiterate people should be given the required training so that they can live a better life. To check the rising population, family planning should be followed, providing proper facilities to farmers.

Besides, measures should be taken to end corruption, so that we can deal with the gap between rich and poor.

it is necessary for us to act quickly and correctly. Poverty is a major problem in the World and it have to be solved on a serious note. Our government is taking a large number of steps to reduce poverty. Eradication of poverty would ensure a sustainable and inclusive growth of economy and society. We all should do our best to help alleviate poverty from our country.

Unemployment

India is still not out of the woods as far as unemployment is concerned after a year when the lockdown was imposed to contain the spread of deadly COVID-19 on March 25 last year as pandemic-induced job loss has not tapered off consistently.

The government had imposed a lockdown to curb the spread of the pandemic but this impacted economic and commercial activities and resulted in job loss and later on the exodus of migrant workers which rocked the entire nation.

According to the Centre for Monitoring Indian Economy (CMIE) data, the unemployment rate was recorded at 6.9 per cent in February 2021 which is slightly better than 7.8 per cent in the same month last year and 8.8 per cent in March 2020, during which lockdown was imposed.

The data showed that the unemployment rate had peaked to 23.5 per cent in April and remained at 21.7 per cent in May. It started tapering off from June onward when it was recorded at 10.2 per cent in the month and further improved to 7.4 per cent in July.

However, the unemployment rate again rose slightly to 8.3 in August and improved to 6.7 per cent in September last year, as per CMIE data.

In October, unemployment again rose slightly to 7 per cent and then eased to 6.5 per cent in November last year as per the data.

Job is lost, not the mastership!

Get the ‘tasks’ of your own!

You’ve lost your job but you are still in the possession of your skills.

“Unemployed, what to do now?”
“From where to start?”
“I can’t find anything else to do!”
It’s better to ponder over the strategies to get a job instead of spoiling the mood following such qualms.
Stop worrying, start learning something new. Because it’s just the scepticisms talking!

Many fundamental tasks at home must have been hung back, caused by unemployment. But it does not mean that all the portals are closed.
You have got time to think something raw, something fresh and to do something new as well. Then why not to do the enhancement of your skills?
First and foremost, start making a plan to control the expenditures and start executing it at your earliest convenience.
You can do anything you want to do. Just think ahead about what to do.

Think of ahead, what do you want to do


It happens many times that we stay in a job despite the fact that it is bearing no interest. Or say that we never really wanted to do.

Co-founder of a career assessment – ‘Map My Talent’, Rohit Sehgal says, “About 80% of employees believe that they are stuck in their jobs which actually is not for them.”


So you seek such a job that interests you.
For that, if you need to do any course or get enrolled in any program of two or three months, just go for it.
Can do work from home or would like to start something of your own, considering all these aspects, search for a new job.

“Don’t Worry About Job Burn-Out. Worry About Job Boredom.” -Darius Foroux

Learn something new

HR consultant, Nirmala Menon says, “You’ve to remember one thing that whether the company has fired you or you’ve left the job, no matter what’s the case with you, your skills are still lodging in there!”
Instead of being disappointed, think about the ways in which you can reinforce your skills.
Due to lockdown, you’ve got enough time to train yourself to be a multitasker. If you want to learn something new, then choose the hi-tech way! Choose your desired online course from a list of choices and join online programs. (‘Modern problems require modern solutions!’)

Don’t flatten the graph of evolution

Networking is constructive


A survey of Yale University claims that 70% of jobs are available through the networks only.
So you need to find a new networking strategy.
You need to be active on social media platforms. Keep your revamped profile on job providers or search engines, particularly for jobs like LinkedIn and other job sites.
If you are looking for a job in marketing, then you can join the space of global marketing and communication professionals on LinkedIn.
Stay connected to your seniors and ex-colleagues. Discuss and swap viewpoints, seek pieces of advice.
Thrive the flexibility of decision-making as per the requirement of time.
Don’t think twice about challenging yourself otherwise you’d stop evolving.