Even after 67 years of Independence, unemployment remains a challenge for policy makers. For the eradication of unemployment in the country, the government`s approach should be inclusive.
However, the new government at the centre has come come to power with the sole promise of development, growth and employment.
Indicating sluggishness in the country`s job market, the International Labour Organisation (ILO) has said in its recent report that the unemployment scenario in India over the last two years has been showing a rising trend.
Going by ILO`s latest estimates, India`s jobless rate could be 3.8% this year.
Unemployment rate in India is showing an increasing trend since 2011 when it was 3.5%. The same rose to 3.6% in 2012 and climbed to 3.7% last year.
This year, jobless rate is expected to rise to 3.8%, according to the report `Global Employment Trends 2014`.
According to the ILO report, it has been argued that India was experiencing `jobless growth` due to the fact that total employment grew by only 1.1 million from 2004/05 to 2009/10 (based on the National Sample Survey), representing an employment elasticity of almost zero.
Reema Sharma/Ajeet Kumar
|