India has recorded a youth unemployment rate significantly lower than global levels, according to the India Employment Report, 2024, by the Institute for Human Development (IHD) and the International Labour Organisation (ILO).
The ILO’s Global Report on Trends for Youth, 2022 indicated a worldwide youth unemployment rate of 15.6% in 2021. In 2023, the rate declined to 13.3%, as noted in the World Employment and Social Outlook Trends, 2024. However, India’s youth unemployment rate for individuals aged 15-29 years, based on the latest Annual Periodic Labour Force Survey (PLFS) for 2023-24, stood at 10.2%, well below the global average.
The Worker Population Ratio (WPR), which reflects the proportion of employed individuals within the youth population, has risen in India from 31.4% in 2017-18 to 41.7% in 2023-24, indicating a steady improvement in youth employment.
The Employees’ Provident Fund Organisation (EPFO) payroll data further highlights the increase in formal employment. Over 1.3 crore net subscribers joined EPFO in 2023-24, and between September 2017 and August 2024, more than 7.03 crore individuals became net subscribers, marking significant progress in the formalisation of the workforce.
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The government has prioritised employment generation and improving employability through various schemes and programmes. Key initiatives include:
- Prime Minister’s Employment Generation Programme (PMEGP)
- Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS)
- Pt. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY)
- Rural Self Employment and Training Institutes (RSETIs)
- Deen Dayal Antodaya Yojana – National Urban Livelihoods Mission (DAY-NULM)
- Pradhan Mantri Mudra Yojana (PMMY)
These efforts aim to boost job creation across sectors, including micro, small, and medium enterprises, rural development, housing and urban affairs, finance, and textiles.
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