unemployment :misery for a country

Unemployment : misery for a country

Unemployment is a situation when people are to work for their survival and for             maintaining standard of living but they are not getting work and it gives rise to              the problem of poverty. People who are educated and skilled and are able to work in fair remunerations are unemployed. Unemployment is an obstacle on the path of development of our country.

source:thestreets.com

Unemployment in last 10-20 years

According to survey  unemployment rate for 2019 was 5.36%, a 0.03% increase from 2018, rate for 2018 was 5.33%, a 0.09% decline from 2017 and in 2017 was 5.42%, a 0.09% decline for 2016 and unemployment  rate for 2016 was 5.5%, a 0.05% decline from 2015.In 2015 was 5.57%, a 0.04% decline from 2014,In 2014 was 5.61% , a 0.06% decline from 2013,In 2013 was 5.67%, an 0.02% increase from 2012,In 2012 was 5.65%, an 0.01%  increase from 2011,In 2011 was 5.64% and was same in 2010,in 2009 was 5.57% , an 0.29% increase from 2008,In 2008 was 5.28% , a 0.04% decline from 2007,In 2007 was 5.32% , a 0.13% decline from 2006, In 2006 was 5.45% , a 0.15% decline from 2005,In 2005 was 5.60% , a 0.07% decline from 2004, In 2004 was 5.67% , a 0.06% decline from 2003,In 2003 was 5.73% a 0.01% increase from 2002,In 2002 was 5.72%, a 0.06% increase from 2001, In 2001 was 5.66% ,In 2000 was 5.66% , a 0.02% decline from 1999.     

source:macrotrends.com

Impact of covid-19 on employment:-

According to ILO-ADB report over 4-million young Indians have lost jobs due to covid-19 pandemic, most job loses in the farm and construction sector, according to a report by "The international labor organization and Asian Development Bank". In 2019, the regional youth unemployment rate was 13.8%, compared to 3% for adults, and more than 160 million youth(24% of the population) were not in employment, education or training. 

source:@statista.com

In september 2020,India saw an unemployment rate of over 6% . This was a notable upgrade from the previous months. Due to total lockdown a damaging impact on India's economy was imminent. Unemployment went up to 24% on may 17 2020 between february and april 2020, the share of household that experienced a fall in income shot up to nearly 46%.Inflationn rates on goods and services including food products and fuel were expected to rise later this year.

Causes of unemployment in India:-

→ caste system

→slow economic growth

→Increase in population

→Lack of irrigation facilities

→Fall of small scale industries

→Lack of industries

Effects of unemployment :-

→Poverty

→Increase in crime rates

→Personal hardship to family

→Starvation

→Negative impact on youth

Measures to reduce unemployment:-

→Growth of industries

→Expansion of education and health

→Population control

→Agricultural development

→Rural development

source:-nationalheraldindia.com

Conclusion:-

unemployment is a complex issue for any economy. It affects negatively to unemployment as they are jobless and urges to get a job. Although for overall development of economy, government has to take major initiative to increasing job opportunities as it leads to increment in standard of living.