Even though unemployment rates are low and have been falling since 2017-18, there exist significant disparities in the experience of unemployment. Education and unemploymentFigure 1 outlines the unemployment rates for the aggregate labour force of individuals aged 18 to 65. The rate has been reduced by 2022-23 with 27% of young graduates facing long spells of unemployment. Thus, overall unemployment rates remain low even though graduates face high unemployment because the share of educated workers in the labour force is low. As enrolment rates continue to rise, the share of graduates in the labour force will increase, leading to increases in the aggregate unemployment rate.

Source: The Hindu December 27, 2023 13:31 UTC