India waits for 'Unemployment Explosion' in 2020

TeamLease Services has released a survey on the situation of unemployment in India under the title 'India Labor Report 2006'. It says that if the current trends continue, India will experience an 'unemployment explosion' by the year 2020 that will hit the Indian economy.

jobless people

India Daily had published an article earlier as India at the verge of jobless growth on the same issue.

This report says that India will have an unemployment rate of 30 per cent and there would be over 211 million unemployed in 2020.

Nine out of 10 unemployed people will be in the age group of 15 to 29. India's working population in 2020 will be surprisingly equal to India's population (846 million) in 1991.

The working age population by the year 2020 will be almost 761 million. The overall labor force that will come up in 2020 will be around 716 million.

TeamLease further says that education indicates the upcoming situation of the labour market. Moreover, the situation is looking very critical.

Here is the list of states with its unemployment rate estimate for 2020 and according to the census 2001 -

# Goa - 55.4 per cent (20.1 per cent in 2001)

# West Bengal - 40 per cent (22)

# Uttar Pradesh - 33.8 per cent (8.6)

# Andhra Pradesh - 33.5 per cent (8.4)

# Himachal Pradesh - 33.3 per cent (6.5)

# Gujarat - 7.3 per cent (6.7)

# Bihar - 14.5 per cent (7.3)

# Rajasthan -16.9 per cent (4.8)

# Karnataka's - 6 percent (23.7)

# Kerala - 28.7 percent (27.8)

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