Research conducted by the BBC on 18–35-year-old living in Uttar Pradesh and Uttarakhand states sheds light on their plight. The report shows the social issues they encounter for being unemployed. The pressure of their responsibility to their family increases. The lack of money breeds disrespects in their ability as well as issues in their marriages.

The lack of permanent jobs leads to questions regarding their ability to have a family. This makes them angry about the time they invested in education programs. Their continuous search for jobs and often disappointment in finding one discourage them further.

Now that India’s youth also begin to have a family of their own, their children are often struggling to understand the gap. There seems to be a huge market for jobs but why is it a struggle to get one. Many are now more cautious to choose a new course of action in their studies. They are wanting to explore options that are unavailable to the old market. Among the examples is the EV industry, Digital Solutions, or even IT programming. These courses were previously unavailable to the older generations.

In the next few years, India is planning to create six million jobs in the next five years. No details on which industry but in recent reports, India is looking at the EV market. They are aiming to be a hub of electric vehicle production. This is a new industry that is not available to any generation. Joining courses on these could greatly increase one’s chance of employment.

The post India’s Unemployment Rate further rises to 6.5% appeared first on Indo Thai News Channel - Travel l Culture l News & Event l Food.

Globally, the unemployment rate increased from 5.371% in 2019 to 6.469% in 2020. This came as no surprise due to the pandemic.

Many across the globe continue to suffer due to intermittent restrictions and it has come largely unnoticed. The unemployment rate is a mix of skilled and unskilled workers. Among those who suffer are the fresh graduates who find it hard to find a job competing with those recently laid off due to the COVID lockdowns.

Many chose to self-employ hoping to be a part of the digital industry boom. More and more self-starting companies pop out on the internet offering their services or solutions.

The rise in unemployment is expected to give rise to household debts. The total global debt is racing towards $205 trillion from $183 trillion in 2019. This was partly due to the pandemic response by governments amounting to $24 trillion.

Many governments are urged to address the job crisis however, the constant threat of the pandemic with no permanent solution makes it a bit impossible for any solution. One of the increasingly popular options especially to millennials is social media and the internet. Although it is a potential market, it would still not be able to fully address the global shortage in jobs.  

The post Job Crisis – Global Rise of Unemployment appeared first on Indo Thai News Channel - Travel l Culture l News & Event l Food.