Breaking down unemployment in India: Why it's a growing concern and how we can address it!
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Speech on Unemployment
Good morning everyone, today I will be giving a speech on unemployment. The topic of unemployment is one that has been discussed for decades. Unemployment stands for a phenomenon where people, even though they have the requisite skills or educational qualifications, are unable to find work due to a lack of enough jobs. This phenomenon is especially relevant in India due to the high unemployment rate in the country.
Reasons For Unemployment
The reasons for the high unemployment rate in India are twofold. The first reason is that India has a very high population. And with a very high population, it also has a very high population density in specific cities. This means that there are a lot of people in India, and the majority of those people are looking for jobs in the same few cities. This is bound to result in unemployment. On paper, the solution to this seems very simple: people just need to go look for work in the other cities. However, in reality, it is not that simple.
This is where the second problem that causes unemployment in India comes into play. The second issue is that the development rate between different cities and towns varies massively in India. For example, the rate of development in Bhopal is incomparable to the rate of development in Mumbai, which is 10 times higher.
When a city is more developed, the possibility of job availability is more likely. On the other hand, there are very few jobs in small towns and villages. By a few jobs, we don’t just mean a smaller number of jobs, but also a smaller number of different types of jobs. Even today, in 80% of India’s villages, the primary and only job done by most people is farming. Since the land is limited, not everyone in the village can take up farming and only that. This leads to people having to go to the cities to work.
There is also a difference in inflation when it comes to different cities. The prices of goods in small cities are a lot lower than that in big cities. Hence, people who come from small towns to work in metropolitan cities like Mumbai, Delhi etc., agree to work at significantly lower wages than their peers. Working on lower wages is not feasible for people from big cities.
However, on a positive note, a recent report by The Centre for Monitoring India Economy, revealed that unemployment rate in India is going down with the economy slowly returning to normal after being hit by COVID-19 pandemic for two years.
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