Dear MEL Topic Readers,
Too few jobs, too many workers and ‘no plan B’: The time bomb hidden in India’s ‘economic miracle’
While inaugurating the new parliament building for the world’s most populous and democratic country (Vol.4061), India’s young people are struggling to get jobs. Unlike China where there aren’t enough workers to support the growing number of elderlies, there aren’t enough jobs to support the growing number of young workers in India. In fact, over 40% of India’s population is under 25 years old, 45% of whom are unemployed. Furthermore, their competition to get a job is getting tougher these days as the population of young people grows and becomes more educated. For example, more than one million people apply each year for a civil servant position, which is considered a golden ticket in India, a similar situation to China’s “iron rice bowl.” So, young people in India have to live under fierce competition to get better degrees and pass exams for good universities, even though a good academic degree won’t guarantee a good job opportunity any longer. As a result, many of them have no time for social life or love affairs. How and when will they find better job opportunities and lives?
Read the article about how serious the unemployment problem is for young people in India.
https://edition.cnn.com/2023/05/27/economy/india-economic-miracle-issues-youth-intl-hnk-dst/index.html
Too few jobs, too many workers and ‘no plan B’: The time bomb hidden in India’s ‘economic miracle’
While inaugurating the new parliament building for the world’s most populous and democratic country (Vol.4061), India’s young people are struggling to get jobs. Unlike China where there aren’t enough workers to support the growing number of elderlies, there aren’t enough jobs to support the growing number of young workers in India. In fact, over 40% of India’s population is under 25 years old, 45% of whom are unemployed. Furthermore, their competition to get a job is getting tougher these days as the population of young people grows and becomes more educated. For example, more than one million people apply each year for a civil servant position, which is considered a golden ticket in India, a similar situation to China’s “iron rice bowl.” So, young people in India have to live under fierce competition to get better degrees and pass exams for good universities, even though a good academic degree won’t guarantee a good job opportunity any longer. As a result, many of them have no time for social life or love affairs. How and when will they find better job opportunities and lives?
Read the article about how serious the unemployment problem is for young people in India.
https://edition.cnn.com/2023/05/27/economy/india-economic-miracle-issues-youth-intl-hnk-dst/index.html
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