THE PROBLEM OF UNEMPLOYMENT IN INDIA: Essay

Jose John March 12, 2016 No Comments
THE PROBLEM OF UNEMPLOYMENT IN INDIA The unemployment rate in India was last reported at 9.4% in 2009/10 fiscal year. From 1983 until 2000, India’s unemployment rate averaged 7.20% reaching a historical high of 8.30% in December of 1983 and a record low of 5.99% in December of 1994. The labour force is defined as the number of people employed plus the number unemployed but seeking work. The non labour force includes those who are not looking for work, those who are institutionalized and those serving in the military. India’s problem of unemployment is a colossal one caused by various related problems. There are many individual factors like age, vocational unfitness and physical disabilities which restrict the people from joining offered employment. External factors include technological and economic factors that cause increase in unemployment. Every year, India adds to her population afresh. ¬†More than this every year about 5 million people become eligible for securing jobs. Business field is subject to ups and downs of trade cycle and globalization. Economic depression or sick industries often compel employees to become unemployed. Technological advancement contributes to economic development. But, unplanned and uncontrolled growth of technology is causing havoc on job opportunities. The computerization and automation has led to technological unemployment. Strikes...
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