If at any time I (Lord) announce that a nation or kingdom is to be uprooted, torn down and destroyed, and if that nation I warned repents of its evil, then I will relent and not inflict on it the disaster I had planned. - Jeremiah 18:7, 8
Unemployment Rate in India decreased to 3.80 percent in 2011 from 9.40 percent in 2010. Unemployment Rate in India is reported by the India Ministry of Labour. Historically, from 1983 until 2011, India Unemployment Rate averaged 7.6 Percent reaching an all-time high of 9.4 Percent in December of 2009 and a record low of 3.8 Percent in December of 2011. In India, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
The unemployment rate in India is estimated at 9.4 percent or 94 persons out of 1000 persons in the labour force for the fixed reference period of FY 2009-10, according to employment-unemployment survey by the Labour Bureau under the Labour and Employment Ministry.From 1983 until 2000, India’s Unemployment Rate averaged 7.20 percent reaching an historical high of 8.30 percent in December of 1983.About 50% Indians fear losing job Salary cuts.8 out of 10 Indians feel that due to the current financial crisis, the Indian economy has slowed down. 60% of India’s workforce is self-employed, many of whom remain very poor. Nearly 30% are casual workers (i.e. they work only when they are able to get jobs and remain unpaid for the rest of the days).
More than 90% of the labour force is employed in the “unorganized sector”, i.e. sectors which don’t provide with the social security and other benefits of employment in the “organized sector. Unemployment increases susceptibility to malnutrition, illness, mental stress, and loss of self-esteem, leading to depression results suicide etc. India will have a prodigious 30% unemployment rate in 2020. Slowdown in the US economy have made a chilling effect is the Indian IT body shops like TCS, Wipro and Infosys. 50% of the women claimed to be affected by the stock market crash as against 45 per cent men. SURAT: Over 100,000 people laid off in India’s gems, jewelry sector. Recently many PHD students and scientists applied for the post of Peon in a government office in Gujarat. There is greater unemployment in agricultural sector than in industrial and other major sectors. Unemployment rates for women are higher than those for men.
Seriously worried are the final year students, particularly of engineering and management institutes, who may not find a prospective job market when they pass out.,The unemployment, and much more so, the underemployment of graduates, are devastating phenomena in the lives of graduates. However, the incidence of underemployment among the graduates is much higher. Maximum students in this country are from middle class. Parents spend lakhs of rupees on them in a view that he will get a job after completing his graduation. But when the student fails to get a job, his mental position deteriorates & gets depressed.
Bad education is hurting the economy; Education has just become a professionColleges are being set up not to give quality education but to earn money,According to latest report by NASSCOM only 25 % engineering graduates in India are employable, this is because of poor quality of education in engineering colleges.
In particular, educated unemployment is very high; it is around 20 % among graduates. One suspects that political instability in the country, lack of entrepreneurship, lack of quality education and quality students, for instance is the result of excessive unemployment.
1.Pray for God’s mercy upon our land and remove all unemployment issues
2.Pray for deliverance people going towards suicide due to layoff & job fear.
3.Pray for students who complete graduation and fearing for their future
4.Pray for God’s rule and help for people working in IT sectors which is key source of Indian revenue
The whole INDIA has become saturated by producing doctors, engineers and MBA's. Now other professions are really climbing the ladder and it is very important for each student to identify his capabilities, his interest before taking up any course. Because it is better to think before, rather than roaming here and there for getting a job.- Debajit Chakraborty
Source:Ministry of Labour & Employment Labour Bureau, Census 2011,National Sample Survey Organization,wikpedia