Eleven million out of sixty-three million graduates between the ages of 20 and 29 in India are unemployed, with only a small proportion securing stable salaried jobs within a year of graduation, according to a report by Azim Premji University.
The ‘State of Working India’ report found that only about 7 per cent of graduates can find permanent salaried employment within a year of reporting themselves as unemployed.
Graduate unemployment remains high — nearly 40 per cent among those aged 15 to 25 and 20 per cent among the 25 to 29 age group, it said. “Only a small share secure stable salaried jobs within a year of graduation. The problem of graduate unemployment has been magnified in recent years owing to the growing size of the graduate population,” the report said.
According to the report, the youth population has grown substantially in the last few decades, and so has the tertiary enrolment rate, resulting in an increase in the absolute number of young graduates.
“This, together with the high incidence of unemployment, has resulted in a large number of unemployed graduates — 11 million out of 63 million graduates between the ages of 20 and 29 were unemployed as of 2023,” it said.
The report noted that since Independence, India has made remarkable progress in closing some of the educational gaps of the past.
“Gross enrolment ratios in higher education are in keeping with India’s level
of development. Socioeconomic barriers in access to education along gender and caste
lines have been reduced (although there is still a long way to go), and India has a much more connected and capable workforce entering the labour market as a result.
“This has not, however, been accompanied by an effective transition into employment. Unemployment rates are stubbornly high for young graduates. Access to education is uneven” it said.
(PTI)
