India, like many countries, has experienced periods of high unemployment, typically affected by various domestic and international macro-economic factors. Unemployment is a key macro-economic indicator, and in recent years, global events such as the 2007-08 financial crisis, the COVID-19 pandemic, and geopolitical factors have impacted India’s employment landscape. Despite these challenges, India has successfully rebounded and maintained its unemployment levels thanks to the government’s measures and citizens’ collaboration.

As per Centre for Monitoring Indian Economy (CMIE), the rate of unemployment in India rose sharply to 9.2% in June 2024, from 7.0% in May 2024. Factors affecting this increase include a large working-age population skill set mismatch, global geopolitical tensions, and high inflationary environment in foreign economies. From 2008 to 2019, India’s unemployment rate remained steady, averaging between 5.3%-5.4%. However, after the onset of COVID-19 in 2020, the rate jumped to 8.0%.

The large population of India, 70% of which belongs to the working class, exacerbates competition among the workforce, leading to increased pressure on the job market. A portion of the population is employed informally, with the International Monetary Fund (IMF) estimating this sector employs over 80% of India’s total workforce. This sector generally lacks standard benefits such as written contracts of employment and paid leaves.

The Indian government has deployed measures to address unemployment concerns. Among these are the Skill India Mission, focusing on skill upgrading and education, the Make in India initiative, encouraging global companies to manufacture products in India and creating employment in the process, and the digital literacy programme, Digital India. Additionally, the government has launched welfare schemes such as the guaranteed wage employment scheme, MGNREGA, and the comprehensive crop insurance scheme, PMFBY, for farmers.

India’s Finance Minister, Ms. Nirmala Sitharaman, highlighted employment and skilling as the 2024 Union Budget’s theme. She announced several special schemes aimed at facilitating employment, skilling, and other opportunities. Additionally, efforts such as increasing foreign direct investment, private sector participation, and creating a favourable environment for various sectors to operate within India are expected to improve employment opportunities.

The Indian government recognises employment and economic growth as interconnected, and its proactive approach has resulted in tangible employment initiatives that help curtail unemployment rates. Through collaborative efforts and forward-thinking strategies, the Indian government is equipping its population with the right skills and opportunities to be gainfully employed, ultimately strengthening India’s economy.

For individuals grappling with unemployment in California and in need of financial assistance, contacting the Employment Development Department for unemployment benefits is a viable course of action. Getting through to the EDD customer service can be challenging due to the high volumes of calls they receive daily. However, eddcaller.com provides valuable resources on how to get in touch with a live person at EDD. Leveraging such resources can help in times of unemployment, providing the necessary guidance and assistance in accessing unemployment benefits.