11 million graduates of 63 million are jobless in India

New Delhi | Desk: In a recent published 'State of Working India Report' by Ajim Premji University states out of total 63 million graduates aged between 20-29 in India, approximately 11 million young people are currently unemployed. 

Statistics reveal that the problem of unemployment is most acute among youth aged 15 to 25, where nearly 40 percent of graduates are actively seeking work, whereas this rate stands at 20 percent in the 25 to 29 age group. 

The report places particular emphasis on the fact that while enrollment in higher education has increased over the past few decades, the creation of employment opportunities has not kept pace with this growth.

The reality is that among graduates who find themselves unemployed after completing their studies, only 7 percent succeed in securing a permanent salaried job within a year.

Data spanning the period from 2004-05 to 2023 indicates that approximately 5 million new graduates enter the labor market every year; however, only 2.8 million of them manage to find some form of employment a figure in which the share of permanent jobs remains extremely low.

There has also been an increase in the number of students who drop out of their studies midway due to financial constraints.

According to the report, 72 percent of young people who disengage from education cite the compulsion to contribute to their household income as the primary reason-a figure that stood at 58 percent in 2017.

However, one positive aspect highlighted is that the earnings gap between male and female graduates in the workforce has narrowed, signaling an improved position for women within the labor market. Despite this, the growth rate of starting salaries for young male graduates has stagnated in recent years, posing the challenge of an uncertain future for the educated workforce. (Symbolic Photo)