Unemployment – How to Create 17 Million Jobs in India?
UNEMPLOYMENT
How to create 17 million jobs in India?
This document contains a detailed project report on Unemployment in Manufacturing, Agriculture and Service sectors. This document also compares and discusses current trends and problems and suggests measures to generate employment.
Table of Contents
Executive Summary
Introduction
Agriculture Sector
Manufacturing Sector
Services Sector
Recommendations
Facts And Figures
Executive Summary:
With a target to achieve inclusive growth and move towards a developed nation, India needs to generate enough employment for its 10 million freshers joining the workforce every year. And this employment needs to be in more productive sectors aimed to alleviate the economic disparities among workers. For this, we analyze the employment trends in India and arrive at various facts and figures and then analyze the three major sectors of agriculture, manufacturing and services in detail. These data help us understand the specific measures that need to be taken for increasing productivity and employment in the respective sectors. Manufacturing being the most elastic and showing stagnant growth in employment over the years needs the most attention to generate employment for various levels of skills of people. Focus on services in some untouched areas like tourism and healthcare will bring about multifold benefits for the Indian economy. And innovative solutions in agriculture will increase the standard of labors in agriculture sector also solving the food availability in the country.
Introduction:
Unemployment rate is the percentage of unemployed in the labor force where the labor force consists of all adults capable and willing to work. While this is an indicator of a country’s economic health, labor force participation rate depicts the productive capability of an economy. We have three natural sources of unemployment namely, frictional, structural and seasonal and another cyclical which is due to fluctuations in the business cycle.
Historical figures suggest that unemployment has actually declined from 9.4% in 2010 to 6.3 % in 2012. But this unemployment rate is not enough to give a clear picture. So, we break it down into various sectors. We observe that highest level of people