By The India Employment Report (IER 2024) has called for evolving a comprehensive policy aimed at promoting inclusive employment opportunities in diverse domains and addressing the challenges facing India’s workforce including the gaps in skill development.
Speaking at a colloquium organised by Technopark-based startup Lifology Foundation at Technopark here, industry stakeholders and policy makers noted that IER 2024 has its emphasis on quality education, technical training, and policy support to enhance employability in the evolving Indian job market.
This seminal report, a joint initiative of the Institute for Human Development and the International Labour Organization (ILO), provides an in-depth analysis of the employment scenario in India over the past two decades. It offers specific insights into youth employment, education, and skills development, leveraging data from 2000-2022 and the first quarter of 2023.
Shri Dinesh P Thampi, Vice President & Delivery Centre Head, TCS; Shri Richard Antony, Director (India Operations), Global Delivery Services, EY; Dr. Ajayya Kumar V, COO, Emircom, UAE; Shri Deepu S Nath, MD, Faya India; Shri Riyas PM, Executive Director, Kerala Innovation Council; and Shri Rahul J Nair, Co-Founder & Director, Lifology Foundation, were the panelists who discussed the report’s findings, which indicated significant trends and shifts in the labour market.
The conversation also saw a gathering of distinguished industry leaders, academicians, and policymakers.
The IER 2024 notes that there has been an improvement in labour market indicators since 2019, including a decrease in unemployment rates and an increase in labour workforce participation, especially among rural women.
The report shows the continuing dominance of the informal sector and a rise in self-employment and unpaid family work, predominantly among women. It also delineates the challenges being faced by youth in the labour market such as low participation rates, higher rates of informal employment, lower wages, and challenges posed by technological progress.
Lifology Foundation, a Guinness World Record winning educational organization, focuses on career management, skill development and education sectors.
