India’s youth unemployment rate is lower than globally
India Employment Report, 2024 of Institute for Human Development (IHD) – International Labour Organisation (ILO) mentioned that in ILO’s Global Report Trends for Youth, 2022, the worldwide youth unemployment rate was 15.6 per cent in 2021. Further, as per World Employment and Social Outlook Trends, 2024 by ILO, globally, in 2023, the youth unemployment rate was 13.3 per cent.
The official data source of Employment/ Unemployment indicator in India at present is the Periodic Labour Force Survey (PLFS) conducted by the Ministry of Statistics and Programme Implementation (MoSPI) since 2017-18. The survey period is July to June of the next year. As per the latest available Annual PLFS reports, the estimated Unemployment Rate (UR) on usual status for youth of age 15-29 years in the country in the year 2023-24 was 10.2% which is lower than global levels. Further, the Worker Population Ratio (WPR) for youth indicating employment has increased from 31.4% in 2017-18 to 41.7% in 2023-24.
The Employees' Provident Fund Organisation (EPFO) payroll data gives an idea of the level of employment in the formal sector.
The Employees’ Provident Fund Organisation (EPFO) payroll data gives an idea of the level of employment in the formal sector. More than 1.3 crore net subscribers joined the EPFO in 2023-24. Besides, over 7.03 crore net subscribers joined the EPFO between September 2017 and August 2024, indicating an increase in institutionalisation of employment.
All the labour force indices are providing evidence of improved employment status in the country.
Improving employment along with job creation is a priority of the government. Accordingly, the Government of India has taken various steps to create employment in the country.
Various Ministries/Departments of the Government of India such as Ministry of Micro, Small and Medium Enterprises, Ministry of Rural Development, Ministry of Housing and Urban Affairs, Ministry of Finance, Ministry of Textiles etc. are implementing various employment creation schemes/programmes like Pradhan Mantri Employment Generation Programme. read more
