&w=1200&resize=1200,675&ssl=1 "Unemployment Rate: Highest unemployment in this state of India; Here is the list of the top 10 states with the lowest unemployment
Achi-News")
Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.
The Indian economy has seen significant growth since the 1980s, especially after the LPG (liberalization, privatization and globalization) reforms of the 1990s.
Fast growing Indian economy
Despite crises and economic disturbances, the Indian economy has been growing at a pace of over 6% over the past four decades despite the Covid-19 pandemic in 2020 and 2021.
Today, as the world’s fifth largest economy, the Indian economy is on a fast track with a GDP of over $3.94 trillion by 2024.
According to IMF forecasts, India will overtake Japan to become the world’s fourth largest economy by the end of 2025, and two years later, overtake Germany to become the world’s third largest economy.
The problem of unemployment is plaguing the country
However, most of the educated youth of India are facing the problem of unemployment which shows the lack of harmony between the Indian economy and its labor market.
The Periodic Labor Force Survey for the period July 2023 to June 2024 published by the Labor Bureau showed no change in India’s unemployment rate. The survey said the unemployment rate will remain at 3.2% in 2023 and 24.
Also read: Horn OK Please: Why is ‘Horn OK Please’ written on the back of vehicles? What does this mean? 99% of people don’t know!
The overall unemployment rate among young people was 10.2%, 11% for women and 9.8% for men, with the unemployment rate for women increasing from 2.9% to 3.2% in the previous year.
Top 10 Indian States and Union Territories with the Highest Youth Unemployment Rate
The Union Territory of Lakshadweep has the highest unemployment rate among those aged 15 to 29 at 36.2%, followed by Andaman and Nicobar Islands at 33.6%.
Kerala, the most literate state, has an unemployment rate of 29.9%, including 47.1% for women and 19.3% for men.
The survey reveals that India’s labor force participation rate (LFPR) has increased to 60.1% in 2023-24 from 57.9% in 2023-23, with women’s LFPR rising from 37.0% to 41.7% and men’s LFPR from 78.5% to 78.8%.
Nagaland has an unemployment rate of 27.4% followed by Manipur 22.9%, Ladakh 22.2%, Arunachal Pradesh 20.9%, Goa 19.1%, Punjab 18.8%, Andhra Pradesh 17.5%.
States in the country with the lowest unemployment rates
Madhya Pradesh has an unemployment rate of 2.6%, Gujarat 3.1%, Jharkhand 3.6%, Delhi 4.6%, Chhattisgarh 6.3%, Dadra and Nagar Haveli 6.6%, Tripura 6.8%, Sikkim 7.7%, West Bengal 9%, Uttar Pradesh 9% , Uttar Pradesh 9%. .
Create 12 million jobs
Still, India’s economy faces job creation challenges, struggling to create enough job opportunities for its rapidly growing workforce.
Citigroup Inc has suggested that India will need to create about 12 million jobs annually over the next decade to accommodate the influx of new entrants into the labor market.
Read the latest news first at News 18 Kannada. Get daily fresh news, live news update on Believer News 18 in Kannada
(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
source link https://kannada.news18.com/news/national-international/top-10-indian-states-with-highest-and-lowest-unemployment-rate-stg-sns-1870618.html
&w=1200&resize=1200,0&ssl=1&description=Unemployment+Rate%3A+Highest+unemployment+in+this+state+of+India%3B+Here+is+the+list+of+the+top+10+states+with+the+lowest+unemployment%0A%0A+Achi-News){kind=link}