What is going to be their future?
Only 6.7 Million new jobs were created
There are currently 30 Million unemployed in India today. The unemployment rate stands at over 7.7% the highest in many decades.
Roughly 13 Million of those entering the job market this year will not end up getting jobs.
5-8% of the IT employees are predicted to laid off this year. With nearly 4 million IT workers, this is also going to add up to unemployment.
Add these up and we may have nearly 43 million unemployed by end of 2020.
The economy continues to struggle, with companies struggling for survival. Liquidity continues to be a challenge with sluggish growth in demand.
It seems clear that the government is unable to solve this problem.
Entrepreneurship may be the only solution.
We need millions of new entrepreneurs to employ all the unemployed youth in India.
I hope many of the working professionals become entrepreneurs soon & help solve this big problem.
What are you experiencing on the ground?
Why is this happening?
What do you think is the solution?