What are the major factors contributing to unemployment in India
Regular jobs increased, but unemployment still a concern: report
- Economic slowdown: The Indian economy has been experiencing a slowdown in recent years, leading to a decrease in job creation and an increase in unemployment rates.
- Population growth: India has a large and growing population, which means that there is intense competition for jobs. The demand for jobs often exceeds the availability, resulting in a higher unemployment rate.
- Lack of skill development: Many unemployed individuals lack the necessary skills and qualifications required by employers. There is a need for more investment in skill development programs to bridge the gap between job requirements and the skills possessed by job seekers.
- Informal sector dominance: A significant portion of India's workforce is employed in the informal sector, which often lacks job security, benefits, and stability. This sector is more prone to economic fluctuations and is associated with higher levels of unemployment.
- Education system: The education system in India often fails to equip students with market-relevant skills and knowledge, leading to a mismatch between the skills acquired and the demands of the job market.
- Technological advancements: Automation and technological advancements have led to job losses in certain sectors. Many traditional jobs are being replaced by machines, leading to unemployment in those fields.
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