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Unemployment scenario today

Recently there were many news reports regarding the rising rate of unemployment in our country. It remains to be seen whether this is all hype by the media or the situation is really that bad as projected. We can argue about the quantum of it but the general scenario seems to be that there is a rise in unemployment.

The biggest reason which the govt will tell you these days is the corona virus pandemic. While it is true that a lot of jobs have been lost during the pandemic, the rate of unemployment was already on the rising before the pandemic broke.

Due to the slowdown in economy some companies adopted cost cutting and as a result a large number of workforce was laid off. In a country with a population of 130+ crore, it is impossible for the govt to create jobs for all. That is why the govt must ensure enough pvt companies are allowed to operate in India so that these companies can hire people which will help the employment level.

Also one of the most important things that need to be done is to make our colleges and universities adopt a more practical based industry friendly teaching approach. Most of the students know everything in theory but lack when it comes to actually performing the job. That is when companies become frustrated about the lack of availability of skilled personnel.

Yes the world is going through a slowdown but India is a self sufficient country and it should be able to provide employment to its citizens.

Author:
Nupur Rawal, Assistant Professor, Unitedworld School of Business (UWSB)

Disclaimer: The opinions / views expressed in this article are solely of the author in his / her individual capacity. They do not purport to reflect the opinions and/or views of the College and/or University or its members.