UNEMPLOYMENT- THE BIGGEST ISSUE OF THE HOUR
Unemployment is the major cause of concern in present times. It is a tenacious condition that can have serious consequences like prolonged starvation. Increased suicides etc in a financially-weak family. Multiple factors like lack of human capital, illiteracy, and availability of resources, crime rate, mental stress, and even the influence of political factors have further aggravated the problem. One of the predominant problems in the working sector is the exploitation of employees, making them lose hope from their workplace. There is extreme disproportion of wages which is the major cause of unrest amongst the employees.
According to India Today, “India’s unemployment rate rose to its highest level since 1991 during 2020 as coronavirus pandemic caused economy to come to a screeching halt, according to a study”. The nation saw one of the resilient lockdowns in the world starting from March last year as the pandemic claimed numerous lives, there were strict restrictions on mobility and economic activities across the board.
Basic structural factors such as lack of resources, use of capital-intensive technologies, lack of access to land for agricultural household, lack of infrastructure, and rapid growth of population resulting in large annual increments in labour force year after year also contribute extensively to unemployment and underemployment rates.
One of the most deteriorating effect of unemployment is underemployment where workers take on jobs that are below their skill level. This leads to loss of skill over time which again effects the economy on the whole
To conclude, we can say that the problem of unemployment in India has reached a critical stage. But, the good news is that now the government and local authorities have taken the problem seriously and working on it to reduce unemployment. To completely solve the issue of unemployment we have to tackle the main issue of unemployment that is the vast population of India which is the root cause of all the social issues.