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Unemployed / Job less

 

Unemployment Rate in India is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Unemployment Rate is projected to trend around 4.60 percent in 2020, according to our econometric models.

Ten million Indians with graduate, post-graduate and technical degrees were looking for work, meaning that 15% of all Indians with the highest levels of education were seeking job as of 2011. Kerala had India’s highest graduate unemployment rate at over 30 per cent.

The data emerges from new Census 2011 numbers. Of the 116 million Indians who were either seeking or available for work, 32 million were illiterate and 84 literate. Among literates, unemployment rates were higher among the better qualified, highest of all among the 7.2 million people with a technical diploma or certificate other than a degree. At all levels of education, unemployment rates were higher in rural than in urban areas. The ‘unemployed’ included those who were not currently working but were seeking or available for work, as well as those in marginal employment — meaning that they worked for fewer than six months in the year preceding the Census — who were seeking or available for work.

Unemployment rate in India has shot up to a five-year high of 5 per cent in 2015-16.According to the fifth annual employment-unemployment survey at all-India level, about 77 per cent of the households were reported to be having no regular wage/salaried person. It said the unemployment rate was estimated to be 5 per cent at all-India level under the UPS (Usual Principal Status) approach.

Unemployment rate was 4.9 per cent in 2013-14, 4.7 per cent (2012-13), 3.8 per cent (2011-12), 9.3 per cent (2009-10).

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