: Mahesh Vyas interview: India is losing its demographic dividend because of the unemployment crisis #IndiaNEWS India’s unemployment rate shot up to 7.8% in June 2022, with some 13 million jobs lost,

Mahesh Vyas interview: India is losing its demographic dividend because of the unemployment crisis #IndiaNEWS
India’s unemployment rate shot up to 7.8% in June 2022, with some 13 million jobs lost, mostly in the agriculture sector. What is the matrix of employment and unemployment in this country, i.e., how many jobs are out there for those who want to be employed, and how many are unemployed? Apart from self-employment, what jobs can the government and private sector potentially provide? What does that universe look like today, and what could it look like tomorrow? To understand all this, IndiaSpend spoke with well-known economist Mahesh Vyas, managing director at the Centre for Monitoring Indian Economy, or CMIE, Mumbai.Edited excerpts:Out of a population of 1.3 billion, who are the people actively looking for jobs, and what is the proportion of people searching for jobs?Out of 1.3 billion people in India, just a billion matter [in the context of] labour markets. These are people aged 15 years or more. We don’t count those below 15 years of age as being in the labour markets, [which leaves] about a billion people. A fairly large proportion of this billion choose not to work for profit, or for wages. So the number of...Read more

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