Indian youth unemployment increases in lockdown

In the wake of the coronavirus pandemic, the nationwide lockdown has significantly affected the economic condition of the people. In the IANS Economic Wave Survey, it has been revealed that a large number of youth have become unemployed amid this lockdown. The survey showed that about 47 percent of the employees, who are freshers or who are 45 years of age, have either been fired, or have no work.

Around 24.3 per cent of the people in the group from fresher-level to 25 years of age are unemployed and 22.9 per cent of the respondents in the age group of 25-45 years have been fired. This survey, with a sample size of 1,397, also showed that 11.7 percent of respondents in the age group of 25-45 years are either on unpaid leave or have no income due to work stoppage. In this lockdown, 7 percent of the freshers up to the age of 25 are living without income.

Unemployment – Photo Credits-PTI

Low salaries were the highest in lockdown jobs. According to the survey conducted in the first week of June, about 27.6 percent people were found unemployed and 21.2 percent of the middle-income people lost jobs. 7.2 percent of the people in the higher income group faced layoffs during the lockdown.

In the Coronavirus epidemic, companies around the world are being forced to lay off their employees due to financial constraints, while India, which is already going through a bad phase of unemployment in its history, has suffered another major blow due to this epidemic. . This concern remains, because many experts predict that the process of termination and removal of jobs is not going to end soon.

Under the leadership of the Aviation and Hospitality segment, many companies have cut jobs and taken other cost-cutting measures such as pay cuts and unpaid leave. Aviation companies, hospitality, restaurant and retail segment companies and others have sought help from the government in their businesses, so as to save jobs from being lost.