Employment scenario in the country is showing a positive sign as gauged by various labour force indicators nationally as well internationally.
Employment Indicators
- Periodic Labour Force Survey (PLFS): It is the official data source of Employment/ Unemployment being conducted by the Ministry of Statistics and Programme Implementation (MoSPI) since 2017-18.
- The survey period is from July to June of the next year.
- FY 2034-24: The estimated Unemployment Rate (UR) on usual status for youth of age 15-29 years is 10.2%
- The Worker Population Ratio (WPR): It is defined as the percentage of the population that is employed and is calculated by dividing the number of employed people by the working-age population, and then multiplying by 100.
- It has increased for youth indicating employment has increased from 31.4% in 2017-18 to 41.7% in 2023-24.
- Employees’ Provident Fund Organization (EPFO) Payroll Data: It gives employment data for the formal sector.
- FY 2034-24: More than 1.3 crore net subscribers joined EPFO during 2023-24.
- 2017 to2024: Overall in the last 8 years, more than 7.03 crore net subscribers have joined EPFO, indicating increase in formalisation of employment.
- Labour Force Participation Rate (LFPR): It is the percentage of a population that is either working or actively looking for work.
- Calculation: The rate is calculated by dividing the labor force by the civilian noninstitutional population and multiplying by 100
- Labour Force is the sum of the number of people who are employed and the number of people who are unemployed.
- FY 2023-2024:
- Rural Areas: It increased from 50.7% in 2017-18 to 63.7%
- Urban Areas: It increased from 47.6% to 52.0%.
- Female labor force participation: It reached a seven-year high of 41.7%
- Male Labour Participation: It reached a seven-year high of 78.8%.
- Below Global Average: As per the ILO’s Global Report Trends for Youth, 2022, the worldwide youth unemployment rate was 15.6 per cent in 2021.
- The World Employment and Social Outlook Trends, 2024 by ILO: Globally in 2023, the youth unemployment rate was 13.3 per cent.
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Employment and Social Equity
- Social equity is referred to as the fair and just management of institutions that serve the public, and the equitable distribution of public services and policy and is concerned with access, resources, and opportunities, rather than outcomes.
- Equity vs Equality: Equity is different from equality as it recognises that not all person start from the same place and there is a need for affirmative actions for providing equal opportunities to the disadvantaged sections.
- Link Between Employment and Social Equity:
- Employment Equity: Equity in employment opportunities should be a priority for policy makers to include the excluded and marginalised fostering respect, fairness, and inclusion in communities
- Education: An individual’s background, such as race, gender, family income, or geographic location, can shape their educational prospects which can affect their employment opportunities.
- Social Unrest: Unemployment can be associated with a variety of problems, including higher divorce rates, higher suicide rates, and higher incidences of alcoholism.
- Social Justice: Achieving social justice requires workers to have a living wage and an environment in which rights are protected and enforced.
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Schemes for Employment Generation
- Prime Minister’s Employment Generation Programme (PMEGP): It a central sector new credit linked subsidy scheme being implemented by Khadi and Village Industries Commission (KVIC)
- Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS): It is an social welfare measure that aims to guarantee the ‘right to work’ by providing at least 100 days of assured and guaranteed wage employment for at least one member of every Indian rural household.
- Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY): It is a skill training and placement program in India of the Ministry of Rural Development (MoRD) covering over 250 trades sectors like, Retail, Hospitality, Health, Construction, Automotive, Leather, Electrical, Plumbing, and Gems and Jewelry.
- It is part of the National Rural Livelihood Mission (NRLM).
- Rural Self Employment and Training Institutes (RSETIs): These are managed by Banks with active co-operation from the State Government and are designed to ensure necessary skill training and skill up gradation of the rural BPL youth to mitigate the unemployment problem.
- Deen Dayal Antodaya Yojana-National Urban Livelihoods Mission (DAY-NULM): To reduce poverty and vulnerability of the urban poor households by enabling them to access gainful self employment and skilled wage employment opportunities
- Pradhan Mantri Mudra Yojana (PMMY): It is a flagship scheme of the Government of India to extend affordable credit to micro and small enterprises. It is designed to bring enterprises into the formal financial system, or to “fund the unfunded”.
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Additional Information: Employment Scenario in India Post-Pandemic
November 27, 2024
