Economics Project on Unemployment for CBSE Class 12

INTRODUCTION

Unemployment is a phenomenon that occurs when a person who is actively searching for employment is unable to find work, i.e., the Unemployment rate is the per cent of the labor force without work. During the early days, there was not much unemployment because most people lived in villages engaged in agriculture. The industrial civilization bought a change in the sphere of employment. It is important to make economics project on unemployment for class 12 in cbse.

OBJECTIVES OF STUDY

• To know more about unemployment
• To understand the history behind unemployment
• To figure out the impact and causes of unemployment
• To evaluate the current situation of unemployment

NEEDS AND SIGNIFICANTS

It is very significant to study unemployment. We will know more about our country and what population of our country INDIA is employed. The best way to study contemporary employment situation in India is through economics project on unemployment for CBSE class 12.

We will know the types of unemployment in our country like educated unemployment, which is very common in urban areas. Many students who enrolled and post matriculated cannot find jobs, and this leads to a waste of resources in our country. Other employed such as seasonal disagreed, which turns the people into a liability rather than an asset of our country. While studying, we can conclude how to stop this unemployment.

TYPES OF UNEMPLOYMENT WORLD:

There are three major types of unemployment, and they are:

1. Cyclic Unemployment
2. Frictional unemployment
3. Structural unemployment.

Cyclical Unemployment

Over time, the economy experiences many ups and downs. That’s What we call cyclical unemployment because it goes in cycles.

Cyclical unemployment occurs because of these cycles. When the economy enters a recession, many jobs are lost, these are Cyclical unemployment.

Frictional Unemployment

Frictional unemployment occurs because of normal turnover in the market and the time it takes to find new jobs for workers even if there are enough workers to satisfy every job opening, it takes time for them to leer for the jobs.

Structural Unemployment

This occurs because of the absence of demand for a certain type of work. This typically happens when there are mismatches between the skills employers want and the skills workers have. Major advances in technology, as well as finding the lower costs of labour, leads to this type of unemployment.

CAUSES OF UNEMPLOYMENT WORLD

• Population Explosion
• Lack of vocational and technical education.
• Rural areas leered people to migrate to cities for official jobs.
• Many people are physically unfit for hard manual jobs.
• Shyness toward factory jobs.
• More preference for White collard jobs.
• Many social negative impacts on reaction against specific jobs.
• Lack of obsession with labour, in under industrialized areas.
• Lack of vocational education results in backwardness in technical skills required for jobs.

TYPES OF UNEMPLOYMENT IN INDIA

We know that the situation in which the person is capable of working both physically and mentally at the existing wage rate, but does not have a job is unemployment.

Types:

• Open unemployment
• Cyclical unemployment
• Seasonal unemployment
• Educated unemployment
• Technological unemployment

1. Open unemployment: This situation is wherein a labour force does not have a job that may yield them a regular income. This can be counted in the number of unemployed persons. The labour force expands faster than the rate of the economy. So, all people do not get gob.
2. Cyclical Unemployment: It is caused by trade cycles at regular intervals. Generally, the ups and downs in the business activities result in this unemployment.
3. Seasonal Unemployment: It is the unemployment that occurs during certain seasons of the year. In some industries like holiday resorts, agriculture, i.e., factories, etc. production activities take place only in some seasons. So, they offer employment only for some period of a year. People engaged in such types of activities remain during the off-seasons.
4. Educated Unemployment: Among the educated people, apart from open unemployment, they are unemployed because their qualifications do not match the job. The faulty education system, moss output, preference for white collared jobs, lack of employment skills, salary arguments, etc. are reasons for unemployment among youth who are educated in India.
5. Technological unemployment: It is the result of a certain development in technology. The production sectors, which may not need many laborers, are the cause. Modern technology leering capital intensive requires fewer labourers and contributes to this kind of unemployment.

REASON FOR UNEMPLOYMENT IN INDIA

Though many reasons led to the problem of unemployment in India, some are:

• Increased Population
• Education System
• Lack of interest in the industrial sector
• Preference to experienced.

1. Increased Population: Due to an increase in population, people could not be able to get a job as various applicants apply for the same job.
2. Education System: Lack of vocational education, Ineffective and low-quality education system providing only theoretical knowledge is one of the causes.
3. Lack of interaction in the industrial sector: Most of the Indian youth show interest in profitable white collared jobs and refuse to work in industrial sectors.
4. Preference for experience: Criteria for selecting candidates with having an experience rather than freshers leads to unemployment

YOUTH UNEMPLOYMENT WORLD

Youth unemployment is the unemployment defined by young people who are jobless between 15-and 24 years old, UN.

To qualify as unemployed, the individual must be without employment, willing and able to work, and actively searching for a job.

Youth unemployment rates tend to be higher than the adult unemployment rate in every country in the world.

YOUTH UNEMPLOYMENT INDIA.

The youth unemployment rate was around 10 per cent in 2005. But they haven’t reliably reported statistics to the UN over the years. However, there has been an increase in young adults remaining in school and getting an additional degree because there aren’t employment opportunities. They are called the phenomenon of time passing because the young are simply passing the time in college while waiting for a paid employed job.

INDIA UNEMPLOYMENT RATE

The unemployment rate in India decreased by 4.90 per cent in 2017 from 5.20 per cent in 2016. The unemployment rate in India averaged 7.32 per cent from 1983 until 2017. Reached an all-time high of 8.40 per cent in 2012 and a record low in 2017 at 4.90.

STEPS TAKEN BY THE GOVERNMENT

• MAHATMA GANDHI NATIONAL RURAL GUARANTEE ACT 2005.
• NATIONAL CAREER SERVICE SCHEME.

MAHATMA GANDHI NATIONAL RURAL GUARANTEE ACT 2005.

The Government of India has taken several steps to decrease the unemployment rate, like launching Mahatma Gandhi National Rural Guarantee Scheme, which guarantees 100-day employment to an unemployed person during a year. It has been implemented in 200 districts. The remuneration for this work is 150 per day.

The Government of India published a weekly newspaper titled “Employment News.” It comes every Saturday evening, revealing the information about vacancies in government jobs across India.

NATIONAL CAREER SERVICE SCHEME

The Government of India has initiated the National Career Service scheme through a web portal named the national career service portal (www.ncs.gov.in) has been launched by the ministry of labor and employment (India). Through this portal, employees can avail the facility of a common platform for updating job information Private as well as government job data are available in the portal.

Rural Employment Guarantee Programme (REGP)

This program aims at creating employment opportunities in rural areas and small towns. Under this program, one can get financial assistance in the form of bank loans to set up an enterprise that generates employment.

Prime Minister’s Rosyar Yojana (PMRY).

Educated employment from low-income families in rural and urban can get financial health setup and enterprise that generates employment under PMRY. It generates employment by setting up a 1 lakh micro-enterprise during the 3^rd plan.

Swarna Jayanthi Gramin Share

Rozgar Yojana (STSRY)

It mainly aims at creating employment opportunities for both employment and wage employment in urban areas. The cost of the program between the central and the state is in the ratio of 75:25.

Sampoorna Grameen Rozgar Yojana (SGRY).

This was launched in September 2001. The aim is to provide wage employment to poor, unskilled workers. In rural areas and this program encourages labour-intensive work among the rural people who are willing to render manual or unskilled services — the cost of the program is sharsharedthe central and state.

HOW TO RECOVER FROM THIS PROBLEM.

To overcome this situation of unemployment in India, various can find out some of these are:

1. The population should be controlled in a manner to provide more job opportunities for limited people.
2. The education system should be more advanced and technical.
3. The government should focus on every sector, especially such as in agriculture so that people should not be forced to move from rural to urban areas.
4. The development of rural areas is required to avoid migration.

SOLUTION OR REMEDIES.

The problem of unemployment for an immediate solution is not very easy to solve.

Only if sincere attempts are made problems may be solved timely.

1. Population explosion is one of the most important factors of the present unemployment problem.
2. More vocational sectors must be opened. So that young can be trained and could fit for any Jobs.
3. The government should try for rapid industrialization is under industrialized regions for the country and provide more opportunities.
4. The village and cottage industry should be developed so that more opportunities are provided and to reduce migration from rural areas to cities in search of jobs.

FINDINGS

• By completing this project, I came to know that unemployment affects the country’s overall income.
• Through completing this project, I can understand that industrialization can affect unemployment positively as well as negatively.
• Lack of skills is also an important cause of unemployment.
• The primary reason for unemployment is the lack of technical education and the interest of youth towards white collared jobs.
• Doing this project gives me more awareness of the effects, measures, causes, etc. on unemployment.

CONCLUSION

We should keep in mind that self-help is the best help. We must admit the bitter fact that no government can provide jobs to all unemployed youth. More government measures cannot solve such an enormous problem. Still, the government should adopt measures to create opportunities for self-employment. Promoting jobs for self may be preventing unemployment from limiting. This is the conclusion for economics project class 12 topic unemployment in india.

BIBLIOGRAPHY

• Wiley Online Library
• World development econo.com.
• Financial times magazine
• Fosters govt rate.com.
• infoindianeconomy.com
• Economics Textbook [MICRO] Class-11.
• Times of India (TOI)
• Financial pro weekly
• NCRT textbook class 8,9,10.

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