42 PER CENT OF YOUNG GRADUATES UNEMPLOYED

Graduates tend to find jobs after a delay, with unemployment decreasing significantly for those aged 35 and above

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Despite a decrease in India’s overall unemployment rate from 8.8% in 2019-20 (FY20) to 7.5% in FY21 and further to 6.6% in FY22, a recent report titled “State of Working India 2023,” released by Azim Premji University, highlights a concerning trend. While the unemployment rate in India has decreased, young graduates, especially those under the age of 25, are facing significant challenges in securing employment.

The report acknowledges that India’s overall unemployment rate has shown a positive trend, signalling economic recovery post-COVID. However, a deeper analysis reveals a more complex and troubling situation.