Unemployment Rate Highest In 45 Years, Here's What Should Be Done

According to the National Sample Survey’s report 2017-2018, the unemployment rate had spiked by 6 percent, which is the highest in the last 45 years. However, the report was not validated by the government then. The government now confirmed that the unemployment rate in India in 2017-18 was 6.1 percent. The report was released after a very long delay. The officers reasoned the delay with the change in experimental method for the survey and hence the report was not comparable by the previous year’s data.

Area wise distribution of unemployment

The Ministry of Statistics and Programme Implementation confirmed that the unemployment rate was 6.1 percent for the duration 2017-18. The numbers of unemployed women were found to be higher in urban areas. In rural areas, 3.8 percent of women were found to be unemployed whereas in urban are, the number was higher with 10.8 percent women being unemployed. CWS or Current Weekly Status which is defined by not finding even one hour doing some gainful work in proceeding seven days was found to be 7.7 percent among rural women. In urban areas, this figure rose to 12.8 percent among women.

The Ministry of Statistics and Programme Implementation confirmed that the unemployment rate was 6.1 percent for the duration 2017-18.

What can be done?

India is the country with the largest youth population. This is another reason why there’s a scarcity of job. But the education system too needs to undergo certain modifications to meet the needs of the present time. We tend to focus on the theoretical approach and leaving behind the practical applications which are the most needed in the real world.

Skill development courses

Apart from the traditional educational courses, there should be certain skill development courses too, so that when students graduate, they are fully or partially equipped with the working of the real world and can quickly grab a job. Mahipal Nair, CHRO, Nielsen South Asia, says, “Finding new/better ways to teach mindfulness/focus, adaptability and interpersonal relationships. These three areas are important given the attention span is low, people (millennial in particular) today are more comfortable with the device than a conversation, virtual than real time. Sense of entitlement is high hence most seek immediate gratification so adaptability and mindfulness are key.”

What matters is that at the end of the internship, you should be fully aware of what you learned and should be able to apply in the job you grab in the future.

Internships to adapt in the work environment

Internships are the most important part of a student’s career, but not many people know and participate in this process. While being an intern, you get to learn how an organisation works, without being pressurised with how you work since it is the process of ‘learning’. “Focus on experience by increasing the frequency and/or length of corporate internships. While classroom prepares in terms of mind-set and tools, experience through internship helps in preparing for skills required in the corporates.” adds Nair.

What matters is that at the end of the internship, you should be fully aware of what you learned and should be able to apply in the job you grab in the future. More and more students should be encouraged to go for internships. Though many colleges have made this as compulsory, there are still many who need to take it up.

Problem solving approach

This is the part where practical thinking comes into play. A problem-solving approach can hardly be taught in class. For that, students have to participate in real-world industry process. Sunita Wazir, Wellbeing and Inclusion Lead-HUL, says, “Students entering the workforce need to learn the most basic skills - problem-solving and design thinking. Today’s need is for younger people who can challenge set ways of working, find simpler and faster solutions, leverage their high speed thinking to visualize and create never heard of solutions. The only constraint I’ve observed is the inability to handle failure or criticism. The next generation wants to work with companies that demonstrate and live with purpose- through their brands, their ability to nurture and protect the environment, and companies that care about future generations. For this - we need to make students employable by teaching them to speak up- to bring innovation and challenge every step of the way. And to accept that every idea they bring isn’t going to be the next FB. Students need to learn to handle failure to succeed.”

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