New Delhi: India’s unemployment rate is the highest in the world, but job seekers have plenty of options in the job market.
The unemployment rate for young people aged between 15 and 24 has fallen by nearly a quarter since 2014.
But the Indian government is hoping that its efforts to woo young people with job-focused policies can boost the country’s economic growth rate to 6% from 3% this year.
It has launched a pilot project, called India’s JobBridge, to recruit thousands of young people for jobs in the IT sector and the private sector.
India’s unemployment figures were announced on Tuesday by the government, which is seeking to build a more inclusive workforce.
It says job creation and growth is expected to grow at a 5% annual rate over the next two years, but that is dependent on the government’s plans to expand employment opportunities to the youth.
The unemployment rate among the youth has fallen to 15.4% from 19.6% in 2014.
While the unemployment rate in the prime-age population stands at 21.5% from 25%, the youth unemployment rate has fallen from 18.2% in 2015 to 16.6%.
JobBridge is aimed at boosting the skills of the youth in the sectors of technology, financial services and finance, as well as to develop their skills and knowledge of the Indian workforce, according to the government.
It will focus on recruiting and training young people in these sectors to help the government grow the economy, the government said.
The government said that the project will create more than 200,000 new jobs in four years.
It said the government will help employers and small enterprises in the sector by providing training and employment opportunities for unemployed youth and their parents, as part of the government plan to bring in more than 8 million people into the Indian labour force by 2021.