Internal

Introduction:
With the threat of the fourth COVID wave and rising population, the unemployability rate
will further be going to be reduced  due to current global situations, population growth, lack of
government policies pre-covid declining trend of the economy and will impact the social fabric
of the country with the economic imbalance, increased social unrest, suicides and corruption 

Economic perspective:

“The pace of job creation has been on a steady decline since 2011” According to the former chief
economic adviser to the Government of India Arvind Subramanian.

The rate growth declined sharply after 2016 from 8% GDP to 5% in 2019. This may be due to
demonetization and GST implementation hitting medium and scale industries.

With the COVID outbreak, the growth rate of India further decreased GDP up to -7.3% 
in 2021 and thereby creating an increased unemployment problem.
“the country has been affected by severe unemployment since the year 2011, the rate stood at
8.7% in January 2016, It rose to a high 23.5 percent in April 2020 (during the lockdown), but
was 7.9 percent in December 2021 and 6.6 percent in January 2022”  Ref: Centre for
Monitoring Indian Economy  

The lack of government willingness to create a futuristic pro employment policy is one more
major reason for the continued weakening trend of the unemployment rate.
The current global situation of the Ukraine –Russia war will further aggravate the situation.
According to the ILO director-general. “Global unemployment is expected to remain above pre-
Covid levels until 2023” & “The market recovery will be very slow” 

Social perspective:

Long term unemployment will increase economic imbalance, social unrest, low living standards,
malnutrition, crime rates, corruption, mental health & 
suicides.  which will have a major impact on the overall social fabric of our country.
The News report on www.npr.org “More than 12 million people had applied for 35,000 clerical
jobs at Indian Railways.” This suggests the population problem in India.

Unemployment has a major link with suicide rates “The Mean unemployment rates and
estimated relative risks of suicide associated with unemployment in four world regions, 2000-
11.” According to a study conducted by Carlos Nordt and colleagues at the University of Zurich  
According to the NCRB data, “suicides among the unemployed have been increasing and
touched the highest (3,548) in the pandemic year of 2020”

The predominant corruption in the government section and unwillingness of the government to
fill the government job vacancies is aggravating the situation for qualified youths to find a
suitable job

Referance : Book by S.N Mishra on Labor and Industrial law

https://www.npr.org/
Suicides among unemployed crossed 3,000 in 2020 Covid year: Govt in Rajya Sabha | India News,The Indian Express
The link between unemployment and suicide | World Economic Forum (weforum.org)
Suicides among unemployed crossed 3,000 in 2020 Covid year: Govt in Rajya Sabha | India News,The Indian Express
Forbes India - Jobs, Economy: Will India's Rs 7.5 Lakh Crore Capex Solve Its Job Crisis? Maybe Not
Internal

Labor laws like “The minimum wages act 1948”, and “The Unorganized workers’ social security
act 2008” are not enough to feed the informal sector’s labor requirements like job guarantees,
minimum wages and working conditions, etc. (Ref: Labor and Industrial law by S.N Mishra). 

Conclusion
With the threat of COVID fourth wave, growing population, lack of Government economic
policies, ineffective labor laws, weakened GDP & global situation will impact hard on the job
market and we can see further reducing trend in employability rate consequently a major hit on
country’s social fabric 

Referance : Book by S.N Mishra on Labor and Industrial law

https://www.npr.org/
Suicides among unemployed crossed 3,000 in 2020 Covid year: Govt in Rajya Sabha | India News,The Indian Express
The link between unemployment and suicide | World Economic Forum (weforum.org)
Suicides among unemployed crossed 3,000 in 2020 Covid year: Govt in Rajya Sabha | India News,The Indian Express
Forbes India - Jobs, Economy: Will India's Rs 7.5 Lakh Crore Capex Solve Its Job Crisis? Maybe Not