India’s employment report 2024, released by Institute of Human Development (IHD), and International Labour Organisation (ILO) in March pointed to a concerning youth unemployment crisis as 7 million people enter the workforce annually but have limited job opportunities.
The Centre for Monitoring of the Indian Economy (CMIE) in June 2024 reported a rise in unemployment to 9.2 percent, up from 7 percent in May. Women face particularly high unemployment, with rates rising to 17.5 percent in June 2024. The issue is prevalent in both urban and rural job markets.
On the other hand, the Ministry of Labour and Employment highlighted positive data from the Periodic Labour Force Survey showing over 80 million jobs created between 2018 and 2022 with worker population ratio increasing to 56 percent in 2023. Formal employment has also grown as 13 million new Employees Provident Fund Organisation subscribers joined in 2024.
There are various factors that contribute to an employee getting high paying jobs. The list is given down below.
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