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HR Brew: India’s Recent Graduates Face High Unemployment Rates

Article published: October 5, 2023

IB Economics Syllabus: Macroeconomics (Unemployment, Economic Growth)

Despite India’s strong economic growth, recent graduates under the age of 25 are facing high unemployment rates. The State of Working India 2023 report from the Center for Sustainable Employment at Azim Premji University reveals that while the overall unemployment rate in India has decreased post-pandemic, 42% of recent graduates under 25 are unemployed. This figure drops to 21% for those with some higher education. Rosa Abraham, a coauthor of the report, suggests that some choose to remain unemployed due to unsatisfactory wages or coming from affluent backgrounds, and notes a decline in the availability of desirable salaried jobs despite economic growth.

IB Economics (IA) Commentary Suggestions:

This article offers a great insight into the macroeconomic concept of unemployment, particularly among educated youth in a growing economy. You could look into the mismatch between education and job opportunities, highlighting the potential reasons behind such high unemployment rates among recent graduates. Using the Phillips Curve, you can illustrate the relationship between unemployment and inflation in the Indian context. The key concepts to focus on here is the economic well-being.

Source of image: REUTERS/Niharika Kulkarni

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