Economy expands, the population surges but why do so many people still find their pockets empty? Before you rush to job portals for opportunities, take a moment to explore these key insights presenting the employment status in India :-
1] Unemployment Rate : The youth unemployment rate stands at 10.2%, with 9.8% and 11% respectively for males and females.
2] Employment Type : 57.3% of the workforce is self-employed, with 20.9% in regular salaried jobs and 21.8% are casual labourers.
3] Employment Sectors : 45% of the workforce is employed in agriculture, 28.9% in services, 13% in construction and 11.4% in manufacturing.
4] Labour Participation Rate (LPR) : The labour participation rate rose to 41.4% in June 2024, but unemployment in rural areas spiked to 9.3%.
5] Urban Unemployment Rate : Urban unemployment increased from 8.6% to 8.9%, making city life no picnic either.
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How do you see the future of employment in India? Let us know in the comments!