INCREASING THE EMPLOYABILITY OF YOUTHINCREASING THE EMPLOYABILITY OF YOUTH

Srihari kapuSastry ramana Sai sashidharShivaji Ravindra

Introduction

Unemployment (or joblessness) occurs when people are without work and actively seeking work. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. During periods of recession, an economy usually experiences a relatively high unemployment rate.[1] According to International Labor Organization report, more than 197 million people globally are out of work or 6% of the world's workforce were without a job in 2012.[2] India’s rate of unemployment is 3.8% in 2013 .[3] 

Causes for unemployment :

figure1

Solution for unemployment

Demand side policies:Monetary policy and fiscal policy can both be used to increase short-term growth in the economy, increasing the demand for labor and decreasing unemployment. The demand for labor in an economy is derived from the demand for goods and services. As such, if the demand for goods and services in the economy increases, the demand for labor will increase, increasing employment and wages.Supply side policies:Minimum wages and union activity keep wages from falling, which means too many people want to sell their labor at the going price but cannot. Supply-side policies can solve this by making the labor market more flexible. These include removing the minimum wage and reducing the power of unions, which act as a labor cartel. Other supply side policies include education to make workers more attractive to employers. Cutting taxes on businesses and reducing regulation, create jobs and reduce unemployment.Shifting tax burden:This method will shift tax burden to capital intensive firms and away from labor intensive firms. In theory this will make firms shift operations to a more politically desired balance between labor intensive and capital intensive production. The excess tax revenue from the jobs levy would finance labor intensive public projects. However, by raising the value of labor artificially above capital, this would discourage capital investment, the source of economic growth. With less growth, long-run employment would fall.

Proposed solutionsProposed solutions

Increasing productivity.Increasing productivity.Decreasing population.Decreasing population.Making reforms in agricultural sector.Making reforms in agricultural sector.Encouraging young Entrepreneurship.Encouraging young Entrepreneurship.Producing skilled students.Producing skilled students.Inviting foreign direct investments.Inviting foreign direct investments.Establishing new industries & firms.Establishing new industries & firms.Employing local labor in firms.Employing local labor in firms.

India's quarterly Gross Domestic Product grew at 4.8 percent in the first quarter of 2013. the productivity of India should increase giving rise to increase exports. The imports from foreign countries should be reduced as they will be burden to the nation i.e. they may effect currency value, G.D.P & PPP(purchasing power priorities). So what we suggest is there should be an increase in the productivity in industrial, agricultural, manufacturing, petroleum sectors, e.c.t.

Figure 2

Increasing productivity

In countries with large population. There is a possibility of unemployment, in such a case the practice of having limited number of child (1 or 2 child) should be adopted & the program's like family planning operations should be implemented by government for controlling the growing population. It’s been observed that china is adopting this policy one or none.

There are a number of issues with respect to private sector participation. One aspect is the government rules and regulations. Either there is no legislation or there exists a multitude of legislations. Getting through these complicated set of rules is difficult and poses a big problem for private players. Even simple things like a warehouse receipt system is a complicated issue in India. Ideally there should be a legislation which helps people to come forward and offer these services with ease. Implementing legislation itself takes an extremely long time in India and even when established there is a lack of clarity which increases complexity. There is a high degree of risk involved. New techniques in agriculture should be adopted and farmers should be made educated about various problems related to crops & about use age of manure, fertilizers e.c.t. There should be proper field work done by the scientists and researchers, indeed they should interact with people

Agricultural reforms

Decreasing population

" Quite often, it's a question of information sharing, with small farmers have difficulty in getting proper information about practices, input markets and output markets. This can be made available through rural kiosks or common service centers."

Producing skilled students.In India there are many good educational bodies. We can observe that India is the one of the countries' that is producing large number of professional and non professional students. We prefer 10 basic techniques for improving skills of the students.

Communication and interpersonal skills Problem solving skills Using your initiative and being self-motivated Working under pressure and to deadlines Organizational skills

Team working Ability to learn and adapt Numeracy Valuing diversity and difference Negotiation skills

Inviting foreign direct investments

Foreign Direct Investments have opened a wide spectrum of opportunities in the trading of goods and services in India both in terms of import and export production. Products of superior quality are manufactured by various industries in India due to greater amount of FDI inflows in the country. FDI’s can improve the growth of the country, by FDI local people can be employed into various firms that were been under taken by international bodies.

Encouraging young Entrepreneurship.Entrepreneurship is an employment strategy that can lead to economic self-sufficiency for people with disabilities. Self-employment provides people with disabilities and their families with the potential to create and manage businesses in which they function as the employer or boss, rather than merely being an employee. Oftentimes, people with disabilities are eligible and receive supplemental supports (technical and financial) which can serve as a safety net that may decrease the risk involved with pursuing self-employment opportunities.Many organizations like IACQER are encouraging young researchers to become as enterpuners.

Establishing new industries & firms.Establishing new industries & firms makes a nation to grew economically and it provides lot of people to get employed. We suggest in a country like India putting up new firms is an risky issue as investor’s have a bad belief that corruption is more in India. But still we suggest you that the investing in India is profitable and it’s flexible too. The are many firms that we many firms born , grew, and reached world class significance. The best example is TATA, RELAINCE, etc..

Employing local labor in firms.In India the advantage is that labor were available at low wages. So, there is no need for the companies to bring workers. This can make the local people to strengthen financially.

Impacts of the solution.

Increases self reliability.Increases employment.Makes a country to grew financially.Brings out good qualified professionally skilled workers.Brings out not a lot but a bit change in agricultural sector and there

by increasing the yield of crops.The GDP of the nation can be increased.Employment in country side can increase.

Thank you!!!

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We here by conclude that “the progress of a sub continent can be a slow process but we should remember that slow process is also processed”. By following the above measures we can achieve a great success in changing the jobless peoples fate and make them stand in a good position and can turn them as idols for up coming generations.

References

[1]  International Labor Organization (October 1982)."Resolution concerning statistics of the economically active population, employment, unemployment, and underemployment, adopted by the Thirteenth International Conference of Labor Statisticians; see page 4" (PDF). Retrieved November 26, 2007.

[2]  The Saylor Foundation. "Unemployment Rate." pp. 1 Retrieved 20 June 2012[3]"Press Note on the second Annual Employment & Unemployment Survey (2011-12)". Labor Bureau, Government of India.Figure 1 :http://www.indexmundi.com/g/g.aspx?c=in&v=74Figure 2 :http://www.tradingeconomics.com/india/gdp