New Delhi, A recent report by a Mumbai-based economic think tank has highlighted a significant increase in youth unemployment in India, particularly among individuals aged 20 to 34.
According to Kashmir Media Service, the Centre for Monitoring Indian Economy (CMIE) provided data for the October-December 2023 quarter, showing a noticeable rise in unemployment rates for younger demographics. The report detailed that the unemployment rate for the 20-24 age group escalated from 43.65% in the previous quarter to 44.49%.
Additionally, the 25-29 age bracket experienced a 14-quarter high unemployment rate of 14.33%, up from 13.35% in the previous period. The trend of rising unemployment is more acute in rural areas, with the 20-24 age group seeing the highest rate at 43.79%, followed by the 25-29 and 30-34 age groups at 13.06% and 13.79%, respectively. This data underscores the growing challenge of joblessness among India’s youth, particularly in rural regions.