The India Employment Report 2024, released recently by the International Labour Organisation (ILO), paints a grim picture. The news is particularly bad on two critical counts: joblessness is particularly high among the youth, and its worse for the educated youth. According to the report, India’s youth account for 83% of the unemployed workforce, with the share of the educated youth among the total unemployed doubling - from 35.2% in 2000 to 65.7% in 2022.

Among other things, the report also flags a reversal of the expected transition of the workforce from agriculture to non-farm sector, and says that India’s female labour force participation rate (LFPR) declined by 14.4 percentage points between 2000 and 2019.

What does all this mean for India’s ‘demographic dividend’ that people keep talking about? Why are 82% of the workforce in the informal sector, with nearly 90% informally employed? And why is the share of manufacturing in employment stagnating at 12-14%?

Guest: Professor Ravi Srivastava, Director, Centre for Employment Studies, at the Institute for Human Development, New Delhi.

Host: G. Sampath, Social Affairs Editor, The Hindu.

Edited by Sharmada Venkatasubramanian.

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