Youth unemployment on the rise in India: Report
New Delhi: A Mumbai-based economic think tank and a business information company in a recent report has revealed a noteworthy surge in unemployment among the younger population.
According to Kashmir Media Service, Centre for Monitoring Indian Economy (CMIE) in the data covering the October-December quarter said for individuals aged 20 to 34, the unemployment rate witnessed a sharp increase during the period. Specifically, the 20-24 age group experienced a rise from 43.65% in the previous quarter to 44.49% in October-December 2023. In the 25-29 age bracket, the unemployment rate reached a 14-quarter high, standing at 14.33% compared to the previous figure of 13.35%.
The concerning trend is more pronounced in rural areas, where unemployment levels have surged compared to urban counterparts. Breaking down the data, the unemployment rate in rural areas for the 20-24 age group peaked at 43.79%, followed by the 25-29 age group at 13.06%, and the 30-34 age group at 13.79%.
