Data suggests that India's unemployed youngsters are not looking for jobs. In January 2017, there were 408.4 million employed people in the country. The number of those who were unemployed and seeking jobs was 25.9 million.
Seven months later, by the end of July, the number of employed fell to 405.4 million. But the number of those looking for jobs also fell to 13.7 million, according to a report by Centre for Monitoring Indian Economy (CMIE).
Why did the unemployed, most of them young, stop looking for jobs?
One reason could be they no longer want jobs and are turning entrepreneurs. The government has launched several schemes to promote entrepreneurship. Maybe, the youth increasingly prefer to be their own bosses.
Another reason could be they want to study further as latest skills are valued in the market these days. In developed countries, people re-skill themselves during economic slowdowns. It could be a trend if true, given India's huge youth population.
Seven months later, by the end of July, the number of employed fell to 405.4 million. But the number of those looking for jobs also fell to 13.7 million, according to a report by Centre for Monitoring Indian Economy (CMIE).
Why did the unemployed, most of them young, stop looking for jobs?
One reason could be they no longer want jobs and are turning entrepreneurs. The government has launched several schemes to promote entrepreneurship. Maybe, the youth increasingly prefer to be their own bosses.
Another reason could be they want to study further as latest skills are valued in the market these days. In developed countries, people re-skill themselves during economic slowdowns. It could be a trend if true, given India's huge youth population.
[An excerpt from ET]
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