Labor Force and Unemployment in India
A large section of rural India lives on the brink of hunger and starvation. The most serious problems of rural India are that of Forced Migration (both Seasonal and Permanent), inadequate infrastructure especially in terms of water security and connectivity to markets, slow growth in rural employment opportunities as compared to population growth. This paper aims at understanding the trend of unemployment in India corresponding to the rise in labor force over the years. Using secondary data available through National Sample Survey Organization we are able to project the unemployment situation in major Indian sectors. It is evident through this study that unemployment will be a major concern in upcoming years, where people will be migrating from the Agricultural sector to other sectors and with less opportunities in other sectors it will pose a huge problem of unemployment. It is estimated that all the sectors except Construction and mining will suffer deceleration in employment. Indeed, the government needs to frame economic policies to increase the domestic production to boost the situation.
Keywords - Unemployment, Compound Annual Growth Rate, Gross Value Added, Labor Force