Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
DEEP READ
Munambam Waqf issue decoded
access_time 16 Nov 2024 10:48 PM IST
Ukraine
access_time 16 Aug 2023 11:16 AM IST
Putin
access_time 2 Jan 2025 1:36 PM IST
What is Christmas?
access_time 26 Dec 2024 11:19 AM IST
exit_to_app
Homechevron_rightIndiachevron_rightUnemployment...

Unemployment skyrockets in India; higher than during Covid!!!

text_fields
bookmark_border
Unemployment skyrockets in India; higher than during Covid!!!
cancel

New Delhi: Looking at the graph of the country's unemployment rate, one would be wondering where it is heading. It is currently at its highest rate in the 16 years from 2008 to 2024! Bengaluru-based financial and business services company 'Finshot' has released figures that illustrate the tragic picture of unemployment in the country. 'Finshot' shares that the unemployment rate reached above 9 per cent in 2024, and according to this, one in 11 people in the country is unemployed.

The unemployment rate was below 6 per cent for a decade from 2008 to 19 without any significant fluctuations. In 2020, when everyone was locked inside the home due to the Covid pandemic, it jumped to 8 per cent. The following year, it gave a good sign after employment availability rose and unemployment came down to 5.96 per cent. However, it rose again to 7.33 per cent in 2022. In 2023, it was 8.03 percent. 2024 has become the highest unemployment period in a decade and a half. It has reached 9.2 per cent! This is a picture that does not give hope for 2025, either.

At the same time, there has been an increase in the number of employed people in the country. While the employment rate was 61 per cent in 2011, it has increased to 64 per cent in 2022. It is expected to reach 65 per cent by 2036.Meanwhile, the number of young people involved in financial transactions is showing a decline. It dropped to 37 per cent by 2022, according to ‘Finshot’.

Show Full Article
TAGS:UnemploymentIndia
Next Story